MIRA
INFORM REPORT
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Report Date : |
19.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
SUPREME FOOD
PROCESSING CO |
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Registered Office : |
Industrial Area,
Phase II, P O Box 505 & 6909, Riyadh 11383 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
1980 |
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Com. Reg. No.: |
1010087483 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the
processing and marketing of poultry and meat. |
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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Maximum Credit Limit : |
R 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : SUPREME FOOD PROCESSING CO
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 1980
Commercial Registration Number : 1010087483, Riyadh
Membership Number : 42322
Issued Capital : SR 10,000,000
Paid up Capital : SR 10,000,000
Total Workforce : 625
Line of Business : Processors and marketers of poultry and meat.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
SUPREME FOOD
PROCESSING CO
ADDRESS
Registered & Physical Address
Location : Industrial Area, Phase II
PO Box : 505 & 6909
Town : Riyadh 11383
Country :
Saudi Arabia
Telephone : (966-1) 2651370
Facsimile : (966-1) 2651095
Email : khalid.albakry@spc-ksa.com
Premises
Subject operates from
a large suite of offices and a factory that are owned and located in the
Industrial Area of Riyadh.
Branches
Subject operates
branches in Jeddah, Dammam and Khamis.
KEY PRINCIPALS
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Dr Hussain Al
Dabbagh Managing
Partner
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Shaun Holder General
Manager
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Khalid Al
Bakry Business
Development Manager
LEGAL FORM & OWNERS
Date of Establishment : 1980
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 1010087483,
Riyadh
Membership No. : 42322
Issued Capital : SR 10,000,000
Paid up Capital : SR 10,000,000
Name of Partner (s)
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Dr Hussain Al
Dabbagh
·
Dabbagh Group
Notes to the legal Form
A Limited Liability Partnership is a private entity formed by two or more partners who are liable for company debts to the extent of their contributed capital. A maximum of 50 partners are allowed in such a company. The total share capital must be SR 500,000 or more, divided into non-negotiable shares of equal value. The company may not include in its objects the conduct of banking, insurance or savings.
LINE OF BUSINESS
Operations : Engaged in the processing and marketing of
poultry and meat.
Import Countries
: Brazil
Trade Suppliers :
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Kerry
Ingredients Germany
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Newlyweds United Kingdom
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Frimenich United Kingdom
Subject has a
workforce of 625 employees.
FINANCIAL HIGHLIGHTS
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
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Saudi British
Bank
Dhabab Street
PO Box : 9084
Riyadh 11413
Tel : (966-1) 4050677
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of R 100,000 – 30 days:
Established in
1980, subject is involved in the processing and marketing of poultry and meat.
Local sources report
that payment obligations are met in a generally timely manner and the operating
history is clear. As such the company is deemed a fair trade risk and the above
credit figure is considered to be within subject’s financial means.
Maximum suggested
credit figure: R 100,000
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)