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MIRA INFORM REPORT
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Report No. : |
487959 |
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Report Date : |
27.01.2018 |
IDENTIFICATION DETAILS
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Name : |
AL SAD ALARABI TRADING EST |
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Registered Office : |
Exit No.17, Madinah El Manwarah, Riyadh |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
04.05.2017 |
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Com. Reg. No.: |
1010513832, Riyadh |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject is engaged in the import and distribution of building materials,
insulation and waterproofing products and materials. |
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No. of Employees : |
8 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
NB |
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Credit Rating |
Explanation |
Rating Comments |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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 2017, the Kingdom incurred a budget deficit estimated at 8.3% 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 and
reduced subsidies on electricity, water, and petroleum products and plans to
introduce a value-added tax. 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 :
AL SAD ALARABI TRADING EST
Country of Origin :
Saudi Arabia
Legal Form :
Sole Proprietorship
Registration Date :
4th May 2017
Commercial Registration Number :
1010513832, Riyadh
Invested Capital :
SR 10,000
Total Workforce :
8
Activities :
Distributors of building materials, insulation and waterproofing products
and materials
Financial Condition :
Undetermined
Payments :
Unknown
Person Interviewed :
Mohamed Ali, Sales Manager
COMPANY
NAME
AL SAD ALARABI TRADING EST
ADDRESS
Registered &
Physical Address
Location : Exit No.17, Madinah El Manwarah
Town : Riyadh
Country : Saudi Arabia
Telephone : (966-11)
2411760
Mobile : (966-58)
0274581 / (966-54) 4066663
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Riyadh.
KEY
PRINCIPALS
Name Position
Hisham Mohamed Madkhali Proprietor
& General Manager
Mohamed Ali Sales
Manager
LEGAL
FORM & OWNERS
Date of Establishment : 4th
May 2017
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 1010513832,
Riyadh
Invested Capital : SR 10,000
Mr Hisham Mohamed Madkhali is the sole
proprietor of the business.
OPERATIONS
Activities: Engaged in the import and distribution of building materials,
insulation and waterproofing products and materials.
Import Countries: Europe and the Far East
Subject has a workforce of 8 employees.
FINANCIAL
DATA
Subject is a newly formed business and as a result financial information
is not currently available.
BANKERS
Riyad Bank
King Abdul Aziz Road
PO Box: 22622
Riyadh 11416
Tel: (966-11) 4013030
PAYMENT
HISTORY
Unknown
GENERAL
COMMENTS
In view of subject’s infancy, extensive payment and financial are not
available, therefore dealings are recommended to be on secured terms, and a
close monitoring of subject’s business development is advisable.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.50 |
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1 |
INR 90.92 |
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Euro |
1 |
INR 79.07 |
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SAR |
1 |
INR 16.95 |
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 : |
TPT |
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
·
Company
background and operations size
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Promoters
/ Management background
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Payment
record
·
Litigation
against the subject
·
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.