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Report No. : |
341697 |
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Report Date : |
23.09.2015 |
IDENTIFICATION DETAILS
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Name : |
ABDULLAH SALEH BA ZUHAIR TRADING EST |
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Registered Office : |
Aseer Street Deira
Area, Near Souq Al Qudus 13358 Riyadh 11493 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
22.10.2005 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject is engaged in the import and
distribution of general foodstuffs, beverages, household equipment, cleaning
and plastic products and materials. |
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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
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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.
|
Source
: CIA |
Company Name : ABDULLAH SALEH BA ZUHAIR TRADING EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 22nd October 2005
Commercial Registration Number : 1010213266, Riyadh
Chamber Membership Number : 161631
Invested Capital : SR 50,000
Total Workforce : 50
Activities : Distribution of general foodstuffs, beverages, household equipment,
cleaning and plastic products and materials
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mirza Mozam, Sales Manager
ABDULLAH
SALEH BA ZUHAIR TRADING EST
Street : Aseer Street
Area : Deira Area, Near Souq Al Qudus
PO Box :
13358
Town :
Riyadh 11493
Country :
Saudi Arabia
Telephone :
(966-11) 4595807 / 4584105
Facsimile :
(966-11) 4584105 / 4595807
Mobile :
(966-50) 3482650
Email : mmm0007@hotmail.com
Subject operates from a medium sized suite of offices that
are rented and located in the Suburban Business Area of Dammam.
Name Position
· Abdullah
Saleh Ba Zuhair Proprietor
& General Manager
· Mirza
Mozam Sales
Manager
Date
of Establishment : 22nd
October 2005
Legal
Form : Sole
Proprietorship
Commercial
Reg. No. :
1010213266, Riyadh
Chamber
Member No. :
161631
Invested Capital : SR
50,000
Mr Abdullah Saleh Ba Zuhair is the sole proprietor of the
business.
Activities: Engaged in the import and distribution
of general foodstuffs, beverages, household equipment, cleaning and plastic
products and materials.
Import Countries: United States of America and Malaysia
International
Suppliers:
·
MAT Export United
States of America
·
Tasty Import
Export Malaysia
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
17,330,000 SR
17,810,000
Local sources consider subject’s financial condition to be
Fair.
The above financial figures are based on estimations by our
local sources.
·
Arab National Bank (ANB)
King
Faisal Street
PO
Box: 56921
Riyadh
11564
Tel:
(966-11) 4029000
Fax:
(966-11) 4027747
No complaints regarding subject’s payments have been
reported.
Please note that the correct name of the subject is
“Abdullah Saleh Ba Zuhair Trading Est” and not “Ba Zuhir Abdulah Trading Est”.
According to local sources, subject meets its payment
obligations in a timely manner and the business is considered to be a fair
trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.63 |
|
UK Pound |
1 |
Rs.101.73 |
|
Euro |
1 |
Rs.73.26 |
INFORMATION DETAILS
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Analysis Done by
: |
HNA |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
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.