MIRA
INFORM REPORT
|
Report Date : |
28.02.2007 |
IDENTIFICATION
DETAILS
|
Name : |
ASTRA FOOD
COMPANY LTD |
|
|
|
|
Registered Office : |
Al Mahjer Street,
Petromin Area, P O Box 42412, Jeddah 21541 |
|
|
|
|
Country : |
Saudi Arabia |
|
|
|
|
Financials (as on) : |
31.12.2005 |
|
|
|
|
Date of Incorporation : |
1991 |
|
|
|
|
Com. Reg. No.: |
4030076432 |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business : |
Engaged in the import
and distribution of general foodstuff products and beverages. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
US$ 650,000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : ASTRA FOOD COMPANY LTD
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 1991
Commercial Registration Number : 4030076432, Jeddah
Membership Number : 31294
Issued Capital : SR 2,000,000
Paid up Capital : SR 2,000,000
Total Workforce : 50
Line of Business : Distributors of general foodstuff products and beverages.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
ASTRA FOOD COMPANY
LTD
ADDRESS
Registered & Physical Address
Street : Al Mahjer Street
Area : Petromin Area
PO Box : 42412
Town : Jeddah 21541
Country : Saudi Arabia
Telephone : (966-2) 6374027 / 6380371
Facsimile : (966-2) 6374044
Email : info@astra.com.sa
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Jeddah.
Branch Office (s)
Location Description
·
PO Box : 3863 Warehouse
premises
Riyadh 11481
Tel : (966-1) 4771488
Fax
: (966-1) 4780679
KEY PRINCIPALS
·
Sabih Al Masry Managing
Partner
·
Khalid Sabih
Al Masry Partner
LEGAL FORM &
OWNERS
Date of Establishment : 1991
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 4030076432,
Jeddah
Membership No. : 31294
Issued Capital : SR 2,000,000
Paid up Capital : SR 2,000,000
Name of Partner (s)
·
Sabih Al Masry
·
Khalid Sabih
Al Masry
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.
AFFILIATED COMPANIES
Subject is a member of the Astra Group of Companies, which consists of
the following concerns:
·
Nour
Communications Co Ltd
Sitteen Street
Malaz District
PO Box: 21557
Riyadh 11485
Tel: (966-1) 4776555 / 4728900 / 4740540 /
4776547
Fax: (966-1) 4787171 / 4727727
·
Arab Supply
& Trading Corporation
Airport Road
PO Box : 254
Tabuk
Tel : (966-4) 4220400
Fax : (966-4) 4281584 / 423 7649
·
Astra
Agricultural Co Ltd
Sitteen Street
Malaz
PO Box: 54061
Riyadh 11514
Tel: (966-1) 4772346 / 4731130
Fax: (966-1) 4782102
·
National Metal
Industries Co Ltd
New Industrial Area
PO Box: 1737
Riyadh 11441
Tel: (966-1) 4982572
Fax: (966-1) 4982580
·
Astra
Industrial Complex For Fertilizer & Agrochemicals Ltd (Astrachem)
Sitteen
Street
Malaz
PO Box: 54061
Riyadh 11514
Tel: (966-1) 4772346
Fax: (966-1) 4782102
Email: astrachem@nournet.com
·
Tabuk
Pharmaceutical Manufacturing Co Ltd
Madinah Road
Tabuk Industrial Area
PO Box: 1486
Tabuk
Tel: (966-4) 283030
Fax: (966-4) 283031
Email: tpmc-r@nournet.com.sa
·
Saudi Mais Co
for Medical Products
PO Box: 42801
Riyadh 11551
Tel: (966-1) 4983739
Fax: (966-1) 4983739
·
Al Mona
Company
PO Box: 41197
Riyadh 11521
Tel: (966-1) 4981687
·
Saudi Mais Co
for Irrigation Systems Ltd
PO Box: 42801
Riyadh 11551
Tel: (966-1) 4982779
Fax: (966-1) 4983739
·
Astra Caravan
Co Ltd
PO Box: 54061
Riyadh 11514
·
Astra Pharma
PO Box: 54061
Riyadh 11514
·
Al Masri Al
Khalaf Trading Company
·
Saudi Mats Co
·
International
Building Systems Factory Co Ltd
·
Astra Polymer Compounding
Co Ltd
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
general foodstuff products and beverages.
Import Countries
: Europe and the United
States of America.
Operating Trend
: Steady
Subject has a
workforce of 50 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : Saudi
Riyals (SR)
Year
Ending 31/12/04 : Year
Ending 31/12/05 :
Total Revenue SR 14,900,000 SR 17,000,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
·
National
Commercial Bank
King Abdul Aziz Street
PO Box : 3555
Jeddah 21481
Tel : (966-2) 6446644
Fax : (966-2) 6446644
·
Al Bank Al
Saudi Al Fransi
Al Sharafiya Branch
Madinah Road
PO Box : 7888
Jeddah 21472
Tel : (966-2) 6605863
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of transaction July 2006
Credit amount 56,595
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No Complaints
Currency Canadian
Dollars
GENERAL COMMENTS
Established in
1991, subject is owned and managed by Mr Sabih Al Masry and Mr Khalid Sabih Al
Masry who are well respected in the local business community.
According to local
sources, subject’s financial condition is satisfactory whilst payments are made
in a timely manner. The company’s operating history is reportedly clear and the
subject is considered to be a fair trade risk.
Maximum suggested
credit figure: US$ 650,000
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)
PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions