MIRA
INFORM REPORT
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Report Date : |
19.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
GULF UNION FOOD COMPANY LTD |
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Registered Office : |
Al Kharj Road, Industrial Area, Phase 3, P O Box – 365,
Riyadh 11383, |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
1996 |
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Com. Reg. No.: |
1010149731, Riyadh |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the production of fruit juices and carbonated water |
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$ 800,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name :
GULF UNION FOOD COMPANY LTD
Also Known As :
GULF UNION JUICE FACTORY
Country of Origin :
Saudi Arabia
Legal Form :
Limited Liability Partnership
Registration Date :
1996
Commercial Registration Number :
1010149731, Riyadh
Chamber Membership Number :
76900
Issued Capital :
SR 140,000,000
Paid up Capital :
SR 140,000,000
Total Workforce :
700
Activities :
Production of fruit juices and carbonated water
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Recommended Credit Limit :
US$ 800,000
COMPANY NAME
GULF UNION FOOD COMPANY LTD
ALSO KNOWN AS: GULF UNION JUICE FACTORY
ADDRESS
Registered & Physical Address
Street : Al Kharj
Road
Area : Industrial
Area, Phase 3
PO Box : 365
Town : Riyadh 11383
Country : Saudi Arabia
Telephone : (966-1) 2652855
Facsimile : (966-1)
2652779
Email : admin-info@gulf-union.com
Premises
Subject operates from a large suite of offices and a factory that are
owned and located in the Industrial Area of Riyadh.
Branch Office (s)
Location Description
PO Box : 6408 Owned
office premises
Riyadh 11442
KEY PRINCIPALS
Name Position
Dr Sulaiman Al Roshaidi Managing
Partner
Abdulrahman Al Qassim Partner
Saud Al Moshah General
Manager
Fadel Al Rahim Production
Manager
Abdul Khaliq Mansour Commercial
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1996 (Production
began in 1999)
History : Subject was
originally established in 1996 as a Sole Proprietorship owned by Dr Sulaiman Al Roshaidi.
However in 1999, and upon the introduction of a new partner, namely
Abdulrahman Al Qassim, the business was re-registered as a Limited Liability
Partnership.
Legal Form : Limited Liability
Partnership
Commercial Reg. No. : 1010149731,
Riyadh
Chamber Member No. : 76900
Issued Capital : SR 140,000,000
Paid up Capital : SR 140,000,000
Name of Partner (s)
Dr Sulaiman Al Roshaidi
Abdulrahman Al Qassim
OPERATIONS
Activities: Engaged in the production of fruit juices and carbonated water.
Import Countries: Europe and the United States of America
Brand Names: MAAZA, CAPTAIN, COOL UP, ANHAR and ORIGINAL
Subject has a workforce of approximately 700 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
Malaz Branch
PO Box : 42536
Riyadh 11551
Tel : (966-1) 4776450
Fax : (966-1) 4769502
Al Rajhi Banking & Investment Corporation
PO Box : 28
Riyadh 11411
Tel : (966-1) 4054647 / 4054244
Fax : (966-1) 4044753 / 4052950
Account No. 16254/2
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
Date of transaction October
2002 June 2004
Credit amount 100,000 100,000
Amount overdue 0 0
Payment terms 30
days 30
days
Payment Method Letters
of Credit Letters
of Credit
Paying record No
Complaints No
Complaints
Currency Euros US
Dollars
GENERAL COMMENTS
Established in 1996, subject is involved in the production of fruit
juices and carbonated water under the brand names of Maaza, Cool Up, Anhar and
Original.
According to local sources subject’s operating history is clear with
payments met in a timely manner. The financial position is satisfactory and the
business 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.47.08 |
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UK Pound |
1 |
Rs.71.17 |
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Euro |
1 |
Rs.66.98 |
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%)