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Report No. : |
340035 |
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Report Date : |
15.09.2015 |
Note: Correct name of the company is “BRANCH OF MANSOUR BIN
FAISAL AL SAUD EST”
IDENTIFICATION DETAILS
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Name : |
BRANCH OF MANSOUR BIN FAISAL AL SAUD EST |
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Registered Office : |
Darul Iman Intercontinental 7002 Madinah |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
17.03.1400 Hijri
(corresponding to 4th February 1980) |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Subject is engaged in the wholesale and retail of bags, wallets and
furniture products. |
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No. of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Saudi Arabia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SAUDI ARABIA - ECONOMIC OVERVIEW
Saudi Arabia has an oil-based economy with strong government controls over major economic activities. It possesses about 16% of the world's proven petroleum reserves, ranks as the largest exporter of petroleum, and plays a leading role in OPEC. The petroleum sector accounts for roughly 80% of budget revenues, 45% of GDP, and 90% of export earnings. Saudi Arabia is encouraging the growth of the private sector in order to diversify its economy and to employ more Saudi nationals. Diversification efforts are focusing on power generation, telecommuncations, natural gas exploration, and petrochemical sectors. Over 6 million foreign workers play an important role in the Saudi economy, particularly in the oil and service sectors, while Riyadh is struggling to reduce unemployment among its own nationals. Saudi officials are particularly focused on employing its large youth population, which generally lacks the education and technical skills the private sector needs. In 2014 the Kingdom ran its first budget deficit since 2009, and faces budget deficits for the foreseeable future because it requires an oil price greater than $100 per barrel to balance its budget. Although the Kingdom can finance high deficits for several years by drawing down its considerable foreign assets or borrowing, it probably will begin to reduce capital spending if oil prices stay low through the next year.
|
Source
: CIA |
Company Name : BRANCH OF MANSOUR BIN FAISAL AL SAUD EST
Doing Business As : AL TAWFEEQ FOR TRADING EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 4th February 1980
Commercial Registration Number : 4650029943, Madinah
Chamber Membership Number : 23900
Invested Capital : SR 100,000
Total Workforce : 20
Activities : Wholesalers and retailers of bags, wallets and furniture products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
BRANCH OF MANSOUR BIN
FAISAL AL SAUD EST
AL TAWFEEQ FOR TRADING EST
Location : Darul Iman
Intercontinental
PO Box :
7002
Town : Madinah
Country : Saudi Arabia
Telephone : (966-14)
8360752
Facsimile : (966-14)
8350556
Email : altawfeeq2@yahoo.com
Subject operates from a small suite of offices and a showroom that are
rented and located in the Suburban Business Area of Madinah.
Name Position
· HH Prince Mansour
Bin Faisal Al Saud Abdulrahman Al Saud Proprietor
· Jamal Abu Hassan Sales
Manager
· Abu Saeed Accountant
Date of
Establishment : 17/03/1400 Hijri
(corresponding to 4th February 1980)
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 4650029943, Madinah
Chamber Member No. : 23900
Invested Capital : SR 100,000
HH Prince Mansour Bin Faisal Al Saud Abdulrahman Al Saud is the sole
proprietor of the business.
Activities: Engaged in the wholesale and retail of bags, wallets and furniture
products.
Import Countries: Europe and the Far East
Operating Trend: Steady
Subject has a workforce of 20 employees.
Financial highlights provided by local sources are given below:
Currency: Saudi Riyals (SR)
Year
Ending 31/12/13: Year Ending
31/12/14:
Total Sale SR
11,285,000 SR
11,500,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
National Commercial Bank
Madinah
Tel: (966-14)
8440404
No complaints regarding subject’s payments have been reported.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the business is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.37 |
|
UK Pound |
1 |
Rs.102.54 |
|
Euro |
1 |
Rs.75.32 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.