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Report No. : |
341889 |
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Report Date : |
23.09.2015 |
IDENTIFICATION DETAILS
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Name : |
AL BASMA AL OULA TRADING AND CONTRACTING CO |
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Registered Office : |
Saihat Road Al Khalidiyah District 14877 Dammam 31434 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
21.05.1423 Hijri (corresponding to 31st July
2002) |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Subject’s operations are performed through the following
divisions:
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No. of Employees : |
80 |
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 : AL BASMA AL OULA TRADING AND CONTRACTING CO
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 31st July 2002
Commercial Registration Number : 2050040927, Khobar
Chamber Membership Number : 80939
Issued Capital : SR 150,000
Paid up Capital : SR 150,000
Total Workforce : 80
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : No Complaints
Operating Trend : Steady
AL
BASMA AL OULA TRADING AND CONTRACTING CO
Street :
Saihat Road
Area :
Al Khalidiyah District
PO Box :
14877
Town :
Dammam 31434
Country :
Saudi Arabia
Telephone :
(966-13) 8509333 / 8375053 / 8504590
Facsimile :
(966-13) 8509333 / 8504580 / 8394193
Mobile :
(966-50) 8286000
Email : info@albasmatrading.com
Subject operates from a medium sized suite of offices that
are rented and located in the Central Business Area of Dammam.
Branch Office (s)
Location Description
· Dammam,
Outlet 1 Office
& showroom premises
Tel:
(966-13) 8504590
· Dammam,
Outlet 2 Office
& showroom premises
Tel:
(966-13) 8371438
· Dammam,
Outlet 3 Office
& showroom premises
Tel: (966-13) 8373102
· Al
Khobar Office
& showroom premises
Tel:
(966-13) 8990248
· Al
Ahsa Office
& showroom premises
Tel:
(966-13) 5922343
· Riyadh
Office
& showroom premises
Tel:
(966-11) 2712648
· Hafr
Al Batein Office
& showroom premises
Tel:
(966-13) 7201306
· Jeddah
Office
& showroom premises
Tel:
(966-12) 6130783
Name Position
· Mohamed
Matar Al Ghamdi Managing
Partner
· Saqar
Mohamed Matar Al Ghamdi Partner
· Fathiya
Abdullah Al Ghamdi Partner
· Ramesh
Budhiya Accountant
· Mohamed
Sudhair Sales
Manager
Date of
Establishment :
21/05/1423 Hijri (corresponding to 31st July 2002)
Legal
Form : Limited
Liability Partnership
Commercial
Reg. No. :
2050040927, Khobar
Chamber
Member No. : 80939
Issued Capital : SR
150,000
Paid up Capital : SR
150,000
· Mohamed
Matar Al Ghamdi
· Saqar
Mohamed Matar Al Ghamdi
· Fathiya
Abdullah Al Ghamdi
· Al
Fahma Coldstore Branch of Al Basma Al Oula Trading & Contracting Co
Dammam
Activities: Subject’s operations are performed
through the following divisions:
· Manufacturing Division
Engaged
in the manufacture of steel and aluminium products.
· IT Division
Engaged
in the provision of IT solutions and services.
· Foodstuffs Division
Engaged
in the import and distribution of general foodstuff products.
· Trading Division
Engaged
in the import and distribution of building materials and construction
equipment.
· Construction & Real Estate Division
Engaged as general construction
contractors and providers of real estate services.
Import Countries: India, Turkey and China
Principal
Suppliers:
·
Ashoka
International India
·
Vegas
Industries India
·
Alba Kalip Turkey
·
Shaheenlar
Ferforge Turkey
·
Hebei
Ornamental China
·
Al Fozan Building
Material Co Saudi Arabia
·
Al Muhaidib
Building Material Co Saudi Arabia
·
Al Faris
Trading Co Saudi
Arabia
Operating Trend: Steady
Subject has a workforce of 80 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
21,000,000 SR
26,300,000
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
Street
PO
Box: 18
Dammam
31411
Tel:
(966-13) 8323440
Fax:
(966-13) 8337829
No complaints regarding subject’s payments have been
reported.
According to local sources, subject meets its payment
obligations in a timely manner and the company 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.