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MIRA INFORM REPORT
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Report No. : |
507792 |
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Report Date : |
10.05.2018 |
IDENTIFICATION DETAILS
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Name : |
ALI SAAD H ALHASANIAH EST FOR BUILDING MATERIALS |
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Registered Office : |
Saleh Eddine Building Material Complex, Al
Hindawiah District, PO Box 17806, Jeddah 21494 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
17.02.2018 |
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Com. Reg. No.: |
4030144140, Jeddah |
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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, decoration materials, steel and timber. |
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No. of Employees : |
13 |
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 (30.09.2017) |
Current Rating (31.12.2017) |
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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. Approximately 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.
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 recently
introduced a value-added tax of 5%. 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 :
ALI SAAD H ALHASANIAH EST FOR BUILDING MATERIALS
Country of Origin :
Saudi Arabia
Legal Form :
Sole Proprietorship
Registration Date :
17th February 2018
Commercial Registration Number :
4030144140, Jeddah
Invested Capital :
SR 20,000
Total Workforce :
13
Activities :
Distributors of building materials, decoration materials,
steel and timber
Financial Condition :
Undetermined
Payments :
Unknown
COMPANY
NAME
ALI SAAD H ALHASANIAH EST FOR BUILDING MATERIALS
ADDRESS
Registered & Physical
Address
Building : Saleh Eddine Building Material Complex
Area : Al Hindawiah District
PO Box :
17806
Town : Jeddah 21494
Country : Saudi Arabia
Telephone : (966-12) 6488999
Facsimile : (966-12) 6488666
Mobile : (966-59)
8590902
Email : ahmdkasim2010@hotmail.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Jeddah.
Branch Offices
Location Description
Main Street Office
premises
Abha
Tel: (966-17) 2236080 / 2237298
Fax: (966-17) 2237298
KEY
PRINCIPALS
Name Position
Saad Hussein Sultan
Alhasaniah Proprietor
& General Manager
LEGAL
FORM & OWNERS
Date of Establishment : 02/06/1439 Hijri (corresponding
to 17th February 2018)
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 4030144140,
Jeddah
Invested Capital : SR 20,000
Mr Saad Hussein Sultan Alhasaniah is the sole
proprietor of the business.
AFFILIATED
COMPANIES
Ali Saad H Alhasaniah Est for Building
Materials
Main Street
PO Box: 943, Khamis Mushait 61961
Abha
Tel: (966-17) 2236080 / 2237298
Fax: (966-17) 2237298
CR No. 585526776
OPERATIONS
Activities: Engaged in the import and distribution of building materials, decoration materials, steel and timber.
Import Countries: Europe and the Far East
Subject has a workforce of 13 employees.
FINANCIAL
DATA
Subject is a newly formed business and as a result financial information
is not currently available.
BANKERS
Arab National Bank
Medina Road
PO Box: 9463
Jeddah 21413
Tel: (966-12) 6600272
Fax: (966-12) 6650202
PAYMENT
HISTORY
Unknown
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.
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 67.38 |
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1 |
INR 91.09 |
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Euro |
1 |
INR 79.75 |
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SAR |
1 |
INR 17.96 |
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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PRA |
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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
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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.