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MIRA INFORM REPORT
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Report No. : |
488012 |
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Report Date : |
30.01.2018 |
IDENTIFICATION DETAILS
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Name : |
BABADER TRADING & CONTRACTING CO |
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Registered Office : |
Al Fanar Centre King Khaled Street Al Hindawia PO Box 854 Jeddah 21421 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
21.02.1995 |
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Com. Reg. No.: |
4030110125 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is engaged in the provision of holding company
services with interests in manufacture
of paints, adhesives and adhesives tapes, production of candies and honey,
distribution of construction chemicals including sealants and emulsions,
general foodstuffs, milk, juice, tea, tuna, oats and detergents and real
estate property investment and development. |
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No. of Employees : |
35 |
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 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 : BABADER TRADING & CONTRACTING CO
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Company
Registration Date : 21st February 1995
Commercial Registration Number : 4030110125, Jeddah
Issued Capital : SR 250,000
Paid up Capital : SR 250,000
Total Workforce : 35
Activities : Providers of holding company services
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY
NAME
BABADER TRADING & CONTRACTING CO
ADDRESS
Registered &
Physical Address
Building :
Al Fanar Centre
Street : King Khaled Street
Area : Al Hindawia
PO Box : 854
Town :
Jeddah 21421
Country :
Saudi Arabia
Telephone :
(966-12) 6473125
Facsimile : (966-12) 6477582
Email :
foodstuff@babader.com
Premises
Subject operates from a medium sized suite of offices that
are rented and located in the Central Business Area of Jeddah.
KEY
PRINCIPALS
Name Position
· Mahfouz Salem Saleh Babader Chairman
· Khaled Salem Saleh Babader Managing
Director
· Mohamed Salem Saleh Babader Director
· Mohamed Mossad Financial
Controller
LEGAL
FORM & OWNERS
Date
of Establishment :
22/09/1415 Hijri (corresponding to 21st February 1995)
Legal
Form : Limited
Liability Company
Commercial
Reg. No. : 4030110125
Issued Capital : SR
250,000
Paid up Capital : SR
250,000
Name of Partner (s)
· Mahfouz Salem Saleh Babader
· Khaled Salem Saleh Babader
· Mohamed Salem Saleh Babader
AFFILIATED
COMPANIES
· Khaled Salem Saleh Babder Est
Jeddah
CR No.
40300110122
· Arabian
Building Chemicals Factory
· Babader
Trading & Industrial Corp (Foods)
· Al
Baraka Sweets & Foods Factory
· Babader
Trading & Industrial Corp (Paints & Building Materials)
· National
Adhesive Tape Factory
· National
Adhesive Factory
· Real
Estate Division
· Babader
Auto Paints
· Plastic
Pallets Factory Co
OPERATIONS
Activities: Engaged in the provision of holding
company services with interests in manufacture of
paints, adhesives and adhesives tapes, production of candies and honey,
distribution of construction chemicals including
sealants and emulsions, general
foodstuffs, milk, juice, tea, tuna, oats and detergents and real estate
property investment and development.
Import Countries: Europe and the Far East
Subject has a workforce of 35 employees.
FINANCIAL
DATA
Companies registered in Saudi Arabia are not legally
required to make their accounts public and no financial information was released
by the company or submitted by outside sources.
BANKERS
·
Al Bank Al Saudi Al Hollandi
King
Abdulaziz Street
PO
Box: 67
Jeddah
Tel:
(966-12) 6446849
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.
Local sources report that the subject’s operating history is
clear with payment obligations met in a generally timely manner. The financial
position is satisfactory and the company is deemed 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 63.55 |
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1 |
INR 89.82 |
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Euro |
1 |
INR 78.87 |
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SAR |
1 |
INR 16.99 |
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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DIV |
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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
·
Company
background and operations size
·
Promoters
/ Management background
·
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.