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MIRA INFORM REPORT
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Report No. : |
483621 |
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Report Date : |
05.01.2018 |
IDENTIFICATION DETAILS
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Name : |
OUDA MARZOUK AL HARBI SONS TRADING CO |
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Registered Office : |
Barazan Street Barazan Area PO Box 2316 Hail 81462 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2017 |
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Date of Incorporation : |
28.01.1941 |
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Com. Reg. No.: |
3350021553 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Subject is engaged in the import and distribution of
general foodstuffs. |
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No. of Employees : |
32 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 87% of budget revenues, 42% 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. Over 6 million foreign workers play an important role in the Saudi economy, particularly in the oil and service sectors; at the same time, however, 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 2016, the Kingdom incurred a budget deficit estimated at 13.6% of GDP, which was financed by bond sales and drawing down reserves. Although the Kingdom can finance high deficits for several years by drawing down its considerable foreign assets or by borrowing, it has cut capital spending. Plans to cut deficits include introducing a value-added tax and reducing subsidies on electricity, water, and petroleum products. In January 2016, Crown Prince and Deputy Prime Minister MUHAMMAD BIN SALMAN announced that Saudi Arabia intends to list shares of its state-owned petroleum company, ARAMCO - another move to increase revenue and outside investment. The government has also looked at privatization and diversification of the economy more closely in the wake of a diminished oil market. Historically, Saudi Arabia has focused diversification efforts on power generation, telecommunications, natural gas exploration, and petrochemical sectors. More recently, the government has approached investors about expanding the role of the private sector in the health care, education and tourism industries. While Saudi Arabia has emphasized their goals of diversification for some time, current low oil prices may force the government to make more drastic changes ahead of their long-run timeline.
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Source
: CIA |
SUMMARY
Company Name : OUDA MARZOUK AL HARBI SONS TRADING CO
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 28th January 1941
Commercial Registration Number : 3350021553, Hail
Issued Capital : SR 1,000,000
Paid up Capital : SR 1,000,000
Total Workforce : 32
Activities : Distributors of general foodstuffs
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY
NAME
OUDA MARZOUK AL HARBI
SONS TRADING CO
ADDRESS
Registered &
Physical Address
Street :
Barazan Street
Area :
Barazan Area
PO Box :
2316
Town :
Hail 81462
Country : Saudi Arabia
Telephone :
(966-16) 5325055
Facsimile :
(966-16) 5431589 / 5331400
Mobile :
(966-55) 7000031
Email : na4n33@yahoo.com
Premises
Subject operates from a medium sized suite of offices that
are rented and located in the Central Business Area of Hail.
KEY
PRINCIPALS
Name Position
· Nasser
Ouda Marzouk Al Harbi Managing Partner
· Fahd
Ouda Marzouk Al Harbi Partner
LEGAL
FORM & OWNERS
Date
of Establishment :
01/01/1360 Hijri (corresponding to 28th January 1941)
History :
Subject began as a Sole Proprietorship but re-registered as a Limited Liability
Partnership in
August 2010.
Legal
Form : Limited
Liability Partnership
Commercial
Reg. No. :
3350021553, Hail
Issued Capital : SR
1,000,000
Paid up Capital : SR
1,000,000
Name of Partner (s)
· Nasser
Ouda Marzouk Al Harbi
· Fahd
Ouda Marzouk Al Harbi
AFFILIATED
COMPANIES
· Sama
Al Arab Food Factory
PO
Box: 2316
Hail
81462
Tel:
(966-16) 5325055
Fax: (966-16) 5431589 / 5331400
OPERATIONS
Activities: Engaged in the import and distribution
of general foodstuffs.
Import Countries: Europe and the Far East
Operating Trend: Steady
Subject has a workforce of 32 employees.
FINANCIAL
DATA
Financial highlights provided by local sources are given
below:
Currency: Saudi Riyals (SR)
Year
Ending 31/12/16: Year Ending
31/12/17:
Total Sales SR
21,375,000 SR
21,800,000
Local sources consider subject’s financial condition to be
Fair.
The above financial figures are based on estimations by our
local sources.
BANKERS
·
Arab National Bank (ANB)
King
Faisal Street
PO
Box: 56921
Riyadh
11564
Tel: (966-11)
4029000
Fax:
(966-11) 4027747
PAYMENT
HISTORY
No complaints regarding subject’s payments have been
reported.
GENERAL
COMMENTS
The subject and its shareholders/owners have been searched
in the following databases; Office of Foreign Assets Control (OFAC), United
Nations Security Council Sanctions, Australian Sanctions List, US Consolidated
Sanctions List, EU Financial Sanctions List and UK Financial Sanctions List and
nothing adverse could be found on the exact names listed within the report.
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 |
INR 63.39 |
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1 |
INR 85.74 |
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Euro |
1 |
INR 76.25 |
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SAR |
1 |
INR 16.90 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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VIV |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.