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Report No. : |
340212 |
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Report Date : |
15.09.2015 |
IDENTIFICATION DETAILS
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Name : |
SIDDIQ AHMED TRADING CO LTD |
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Formerly Known As : |
SIDDIQ AHMED D REHMAN TRADING EST |
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Registered Office : |
Al Nojoom Roundabout, Heraj Street, Petromin District,
Dawar-al-Nujoom, PO Box 30107, Jeddah 21477 |
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Country : |
Saudi
Arabia |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
05.08.1990 |
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Com. Reg. No.: |
4030072200 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the wholesale and retail of general foodstuff products,
including rice, pulses, sugar, beans, wheat, spices and vegetable oil. |
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No. of Employees : |
50 |
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
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Saudi Arabia |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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.
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Source
: CIA |
Company Name :
SIDDIQ AHMED TRADING CO LTD
Country of Origin :
Saudi Arabia
Legal Form :
Limited Liability Partnership
Registration Date :
5th August 1990
Commercial Registration Number :
4030072200, Jeddah
Chamber Membership Number :
78532
Issued Capital :
SR 500,000
Paid up Capital :
SR 500,000
Total Workforce : 50
Activities :
Wholesalers and retailers of general foodstuff products
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Owais Riyad, Marketing Manager
SIDDIQ AHMED TRADING CO LTD
Registered &
Physical Address
Location : Al Nojoom
Roundabout
Street : Heraj Street
Area : Petromin
District, Dawar-al-Nujoom
PO Box : 30107
Town : Jeddah 21477
Country : Saudi Arabia
Telephone : (966-12)
6377620 / 6352616 / 6369537 / 6370644 / 6353084
Facsimile : (966-12)
6379254
Mobile : (966-55)
5620942 / (966-50) 4381829
Email : info@sadrfoodstuff.com
/ zaiqa@sadrfoodstuff.com
/ zaiqaspices@hotmail.com
Premises
Subject operates from a medium sized suite of offices and a showroom that
are rented and located in the Central Business Area of Jeddah.
Branch Offices
Location Description
Madinah Office
premises
Tel: (966-14) 8170426
Name Position
Siddiq Ahmed Kamal Dalil Rehman Managing
Partner
Kamal Siddiq Ahmed Kamal Dalil Rehman Partner
Omar Sheikh Chief
Financial Officer
Ghulam Farooq Sales
Manager
Mohamed Omair Financial
Controller
Owais Riyad Marketing
Manager
Date of Establishment : 14/01/1411 Hijri
(corresponding to 5th August 1990)
History : Subject began in
1990 under the name “Siddiq Ahmed D Rehman Trading Est”.
However in 2010 it changed names to “Siddiq
Ahmed Trading Co Ltd”.
Legal Form : Limited Liability
Partnership
Commercial Reg. No. : 4030072200,
Jeddah
Chamber Member No. : 78532
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Name of Partner
(s)
Siddiq Ahmed Kamal Dalil Rehman
Kamal Siddiq Ahmed Kamal Dalil Rehman
Kamal Siddiq Ahmed Kamal Trading Est
Heraj Street
PO Box: 30107
Jeddah 21477
CR No. 4030183889
Activities: Engaged in the wholesale and retail of general foodstuff products,
including rice, pulses, sugar, beans, wheat, spices and vegetable oil.
Subject also operates a supermarket located in
Aziziah, Jeddah.
Import Countries: Europe, Pakistan, India and Thailand
International Suppliers:
Shezan International Ltd Pakistan
Zaiqa Food Industries Ltd Pakistan
Mahant Industries India
Maskan Overseas India
Mahavir Rice India
Asia Golden Rice Thailand
Royal Plus Drink Co Thailand
Tirupati Basmati Rice Co India
Brand Names: ZAIAQ, ANAS and EVERYDAY
Operating Trend: Steady
Subject has a workforce of 50 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 Sales SR
19,250,000 SR
20,000,000
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
King Abdul Aziz Street
PO Box: 3555
Jeddah 21481
Tel: (966-12) 6446644
Fax: (966-12) 6446644
No complaints regarding subject’s payments have been reported.
During the course of this investigation nothing detrimental was
uncovered regarding subject’s operating history or the manner in which payments
are fulfilled. As such the company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.37 |
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1 |
Rs.102.54 |
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Euro |
1 |
Rs.75.32 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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.