MIRA
INFORM REPORT
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Report Date : |
16.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
AL
WATANIA POULTRY |
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Registered Office : |
Al
Wasil Area, P O Box 1181 & 1679, Qassim 81999 |
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Country : |
Saudi
Arabia |
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Date of Incorporation : |
1980 |
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Com. Reg. No.: |
1131006319 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged as processors of chickens, eggs
and producers of animal feeds. |
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 : |
US$
2,000,000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : AL WATANIA POULTRY
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 1980
Commercial Registration Number : 1131006319, Qassim
Membership Number : 1459
Issued Capital : SR 100,000,000
Paid up Capital : SR 100,000,000
Total Workforce : 6,500
Line of Business : Processors of chickens, eggs and producers of animal feeds.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
AL
WATANIA POULTRY
ADDRESS
Registered & Physical Address
Location : Al Wasil Area
PO Box : 1181 & 1679
Town : Qassim 81999
Country : Saudi Arabia
Telephone : (966-6) 3920230 / 3911574 / 3248193
Facsimile : (966-6) 3911304
Email : import@al-watania.com
Premises
Subject
operates from a large suite of offices and a factory that are owned and located
in the Industrial Area of Qassim.
Branch Office (s)
Location Description
· Buraidah Hail Road Poultry
farm & Feed mill
Buraidah
Tel: (966-6) 3920050 / 3920403
Fax: (966-6) 3920111
KEY PRINCIPALS
· Sheikh Sulaiman Abdulaziz Al
Rajhi Managing
Partner
· Sheikh Ahmed Sulaiman Abdulaziz
Al Rajhi Partner
· Sheikh Ali Sulaiman Abdulaziz Al
Rajhi Partner
· Ibrahim Al Rajhi General
Manager
· Amar Gamal Export
Manager
· Hisham Hudith Finance
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 11/11/1400 Hijri (corresponding to 1980)
Legal Form : Limited Liability Partnership
Commercial Reg. No. : 1131006319, Qassim
Membership No. : 1459
Issued
Capital : SR 100,000,000
Paid
up Capital : SR 100,000,000
Name of Partner (s)
· Sheikh Sulaiman Abdulaziz Al
Rajhi
· Sheikh Ahmed Sulaiman Abdulaziz
Al Rajhi
· Sheikh Ali Sulaiman Abdulaziz Al
Rajhi
· Sulaiman Abdulaziz Al Rajhi
Holding Co
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
· Al Watania For Industries &
Trade
Al Rajhi Building
Old Industrial Area
PO Box: 4130
Riyadh 11491
Tel: (966-1) 4470088 / 4489178
/ 4481364
Fax: (966-1) 4489256 / 4481364
Email: info@wataniaind.com
· Al Rajhi Development Co Ltd
PO Box : 4301
Riyadh 11491
Tel : (966-1) 4761581 / 4769102 / 4777576
Fax : (966-1) 4769775
· Gulf Packaging System
Industrial City
PO Box : 2143
Jeddah 21451
Tel : (966-2) 6380735 / 6380736
· Saudi Arabian Amiantit Co Ltd
PO Box : 1029
Riyadh 11431
Tel : (966-1) 4658665
· Amar Line Maritime Co Ltd
Madinah Road
PO Box : 1689
Jeddah 21441
Tel : (966-2) 6510773
· Al Rajhi & Al Sedais Co
Madinah Road
PO Box : 1597
Jeddah 21441
Tel : (966-2) 6511173
· Al Rajhi Banking & Investment
Corporation
Al Batha Street
PO Box : 242
Riyadh 11411
Tel : (966-1) 4032473 / 4054244
Fax : (966-1) 4035588
· Saudi Ceramic Co
PO Box : 3893
Riyadh 11481
Tel : (966-1) 4770715 / 4880379
Fax : (966-1) 4782897
· Arabian Gulf Manufacturers
Limited (Gulfmaid)
Makkah Road, Kilo-7
Industrial City, Phase 5
PO Box : 2143
Jeddah 21451
Tel : (966-2) 6377944 /
6801416
Fax : (966-2) 6365445 /
6380540
· Al Rajhi Commercial Foreign
Exchange
Palestine Street
PO Box : 4514
Riyadh 21412
Tel : (966-1) 6700260
Fax : (966-1) 6716387
· Al Rajhi Company for Industry
& Trading
First Industrial Area
PO Box : 4130
Riyadh 11491
Tel : (966-1) 4470088
Fax : (966-1) 4489256
· Al Rajhi Company for Agriculture
Ltd
Prince Abdullah Street
Malaz
PO Box : 51764
Riyadh 11553
Tel : (966-1) 4763313 / 4768368
Fax : (966-1) 4768370
· Gulf Packaging Industries Company
Ltd
First Industrial City
PO Box : 8556
Dammam
Tel : (966-3) 8570044 / 8576063
Fax : (966-3) 8577345 / 8572903
· Yanbu Cement Company
Madinah Road
PO Box : 5330
Jeddah 21422
Tel : (966-2) 6534588 / 6534584
· International Spare Parts Trading
& Manufacturing Co Ltd (Alaman)
Khorais Road
First Industrial City
PO Box : 51482
Riyadh
Tel : (966-1) 4486394 / 2318882
LINE OF BUSINESS
Operations : Engaged
as processors of chickens, eggs and producers of animal feeds.
Al-Watania Poultry
is one of the world's largest producers of poultry and related products - and
the largest in the Middle East. It enjoys a 40 per cent market share in the GCC
and produces 500,000 chickens and 1 million eggs a day. Al-Watania chickens are
naturally fed and halal slaughtered according to Islamic Sharia'a laws.
The Al-Watania Poultry Project operates in an integrated complex of residential areas, production plants and telecommunications facilities covering 200 square kilometres; the complex was built at a cost of SR3 billion. Al-Watania Poultry was the first poultry company in Saudi Arabia to obtain ISO 9002 certification.
Subject facilities include 116 farms engaged in the growing and breeding of chickens, and 4 feed mill plants with a production capacity of 1,800 metric tonnes per day.
Al Watania Feed Mill
Various chicken feeding needs are ensured by 4 Feed Mill plants whose production capacity is 1800 M.T. per day. Utmost care is being ensured towards quality feed for Breeders, Boiler and Commercial Layers.
The company has introduced various value added products such as chicken nuggets, chicken kufta, chicken burger, chicken shawarma, mortadella, ground chicken and other products.
Import
Countries :
Europe and GCC countries.
Subject
has a workforce of approximately 6,500 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
·
Al
Rajhi Banking & Investment Corporation
Main Branch
Qassim
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
Date of transaction January 2006
Credit
amount 49,000
Amount
overdue 0
Payment
terms 30 days
Payment
Method Letters of
Credit
Paying
record No Complaints
Currency Pounds
Sterling
GENERAL COMMENTS
Opinion
on the credit figure of US$ 400,000
Established
in 1980, subject is involved in the processing of chickens, eggs and producers
of animal feeds.
During
the course of this investigation nothing detrimental was uncovered regarding
subject’s operating history or the manner in which payments are fulfilled. As
such the company is considered to be a fair trade risk and the above credit
figure is deemed to be within subject’s financial means.
Maximum
suggested credit figure: US$ 2,000,000
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/normal. |
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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