MIRA
INFORM REPORT
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Report Date : |
18.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
SAUDI CAN COMPANY LTD |
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Registered Office : |
Al
Khomra Industrial Area, PO
Box 1227 & 2757, Jeddah 21431 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
05.12.1984 |
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Com. Reg. No.: |
4030046744, Jeddah |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacture of Cans |
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$ 500,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : SAUDI CAN COMPANY LTD
Also Known As : SAUDI CANS MANUFACTURING CO LTD
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 5th December 1984
Commercial Registration Number : 4030046744, Jeddah
Chamber Membership Number : 24654
Issued Capital : SR 3,250,000
Paid up Capital : SR 3,250,000
Total Workforce : 120
Activities : Manufacture of cans
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 500,000
COMPANY NAME
SAUDI CAN COMPANY
LTD
ALSO KNOWN AS: SAUDI CANS MANUFACTURING CO LTD
ADDRESS
Registered & Physical Address
Location : Al
Khomra Industrial Area
PO Box : 1227 & 2757
Town : Jeddah
21431
Country : Saudi Arabia
Telephone : (966-2) 6372269
Facsimile : (966-2) 6430384
Mobile : (966-50) 5605823 / 9799351
Email : saudibox@easal.net
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the
Industrial Area of Jeddah.
Branch Office
(s)
Location Description
·
4th
Industrial Area Factory
premises
PO Box 27569
Jeddah 21461
Tel: (966-2) 6430023
/ 6284333
Fax: (966-2) 6430384
KEY PRINCIPALS
Name Position
·
Ali
Omar Ba Shanfer Managing
Partner
·
Mohamed
Omar Ba Shanfer Partner
·
Khalid
Abu Salim Production
Manager
LEGAL FORM & OWNERS
Date of Establishment : 12-03-1405 Hijri (corresponding to 5th December
1984)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 4030046744, Jeddah
Chamber Member No. : 24654
Issued Capital : SR 3,250,000
Paid up Capital : SR 3,250,000
Name of Partner (s)
·
Ali
Omar Ba Shanfer
·
Mohamed
Omar Ba Shanfer
OPERATIONS
Activities: Engaged in the manufacture of cans.
Import
Countries: Germany and the
Far East
Subject has a
workforce of approximately 120 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
·
National
Commercial Bank
Al Balad Branch
King Abdulaziz Street
PO Box : 5066
Jeddah 21422
Tel : (966-2) 6434777
Fax : (966-2) 6441686
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.28 |
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UK Pound |
1 |
Rs.73.43 |
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Euro |
1 |
Rs.68.22 |
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%)