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Report No. : |
341556 |
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Report Date : |
23.09.2015 |
IDENTIFICATION DETAILS
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Name : |
SAUDI FAL CO LTD |
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Registered Office : |
Al Arooba Street, PO Box No.: 4900, Riyadh 11412 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
26.06.1433 |
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Com. Reg. No.: |
1010010880,
Riyadh |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject’s operations
are performed through the following divisions: ·
Construction Division Engaged as general
construction contractors. ·
Controls Division Engaged
in the development of oil products, including valves, regulators, measurement
and analytical products. ·
Environmental Division Engaged in the provision of environmental protection products and
solutions. |
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No. of Employees : |
100 |
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) |
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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.
|
Source
: CIA |
Company Name : SAUDI FAL
CO LTD
Country of Origin : Saudi
Arabia
Legal Form :
Limited Liability Company
Registration Date : 18th
May 2012
Commercial
Registration Number :
1010010880, Riyadh
Chamber Membership
Number : 5844
Issued Capital : SR
10,000,000
Paid up Capital : SR
10,000,000
Total Workforce : 100
Activities :
Subject operates several divisions (see below for details)
Financial Condition : Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Khaled Refaat, Finance Manager
SAUDI FAL CO LTD
Location : Al Arooba Street
PO Box : 4900
Town : Riyadh 11412
Country : Saudi Arabia
Telephone : (966-11) 4192990
Facsimile : (966-11) 4192239
Email :
riyadhoffice@saudifal.com.sa
/ sales@saudifal.com.sa / contact@falgroup.com
majed@saudifal.com.sa
/ admin@saudifal.com.sa
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Riyadh.
Branch Office
(s)
Location Description
·
Dammam -
Al Khobar Highway Office
premises
Industrial City
PO Box: 3070
Al Khobar 31952
Tel: (966-13) 8573157
Fax: (966-13) 8578491
CR No. 2051012091
·
PO Box:
30444 Office
premises
Yanbu
Tel: (966-14) 3210451
Fax: (966-14) 3210431
·
PO Box:
10627 Office
premises
Jubail
Tel: (966-13) 33408670
Fax: (966-13) 33408760
Name Position
·
Dr Fahd Mohamed Saleh Al Azzl Managing
Director
·
Rabeh
Fahd Mohamed Saleh Al Azzl Director
·
Falwa
Fahd Mohamed Saleh Al Azzl Director
·
Mahashel
Fahd Mohamed Saleh Al Azzl Director
·
Majed
Al Mutawa General
Manager
·
Mohammed
Kabbani IT
Manager
·
Samir
Abu Laila Administration
Manager
·
Anwar
Hussain Sales
Manager
·
Khaled Refaat Finance
Manager
·
Mohamed Hussary Financial
Controller
·
M Saud
Al Dossary Human
Resources Manager
Date of Establishment : 26/06/1433
Hijri (corresponding to 18th May 2012)
Legal Form :
Limited Liability Company
Commercial Reg. No. : 1010010880,
Riyadh
Chamber Member No. : 5844
Issued Capital : SR 10,000,000
Paid up Capital : SR 10,000,000
·
Fal Holding Co Ltd 100%
Riyadh
·
Fal Est
·
International
Ductile Pipe Co
·
Al Belad
Fire System Co
Activities: Subject’s operations are performed through
the following divisions:
·
Construction Division
Engaged as general
construction contractors.
·
Controls Division
Engaged
in the development of oil products, including valves, regulators, measurement
and analytical products.
·
Environmental Division
Engaged in the provision of environmental protection products and
solutions.
Operating Trend: Steady
Subject has a
workforce of 100 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 319,500,000 SR
332,900,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Khaled Refaat,
Finance Manager
·
National
Commercial Bank
Malaz Branch
PO Box: 42536
Tel: (966-11) 4776450
Fax: (966-11) 4769502
No complaints regarding
subject’s payments have been reported.
Please note that
subject’s address in Al Khobar is just a branch office. However branch offices
in Saudi Arabia are sometimes issued with their own commercial registration
number, particularly if they are located in a different town to the head
office.
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
|
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
: |
RAS |
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Report Prepared
by : |
TRU |
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.