MIRA
INFORM REPORT
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Report Date : |
21.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
BINZAGR UNILEVER LTD |
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Registered Office : |
Industrial
Estate, Phase 3, Road No. 35, PO Box
5694, Jeddah 21432 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
1978 |
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Com. Reg. No.: |
4030008871, Jeddah |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacture of Personal Care and Hygiene Products. |
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 : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : BINZAGR UNILEVER LTD
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 1978
Commercial Registration Number : 4030008871, Jeddah
Issued Capital : SR 91,400,000
Paid up Capital : SR 91,400,000
Total Workforce : 350
Activities : Manufacture of personal care and hygiene products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 500,000
COMPANY NAME
BINZAGR UNILEVER
LTD
ADDRESS
Registered & Physical Address
Location : Industrial Estate, Phase 3, Road
No. 35
PO Box : 5694
Town : Jeddah 21432
Country : Saudi Arabia
Telephone : (966-2) 6361366 / 6360629 / 6361025
Facsimile : (966-2) 6361220
Premises
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Jeddah.
KEY PRINCIPALS
Name Nationality Position
·
Wahib
Saeed Bin Zagr Saudi Managing
Director
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Tim
Dorrori Unkar British Chief
Executive Officer
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Yasser
Gamal - General
Manager
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Mohamed
M. Saeed - Production
Manager
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Sameh
Ahmed - Administration
Manager
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C.
Karan - Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1978
History : Subject was originally registered under the
name of “Binzagr Lever”, however on
23rd September 2007 subject re-registered
to the current style of “Binzagr Unilever Ltd”
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 4030008871, Jeddah
Issued Capital : SR 91,400,000
Paid up Capital : SR 91,400,000
Name of Partner (s)
·
Unilever
Overseas Holdings AG
·
Abdullah &
Said M O Binzagr Company
OPERATIONS
Activities: Engaged in the manufacture of personal care
and hygiene products.
Import
Countries: Germany, Austria
and China
Brand Names: LUX, DOVE, JIF, SIGNAL, COMFORT, LIFEBUOY
Subject has a workforce
of approximately 350 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
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Al Rajhi
Banking & Investment Corporation
King Abdulaziz Street
PO Box : 605
Jeddah 21421
Tel : (966-2) 6447790 / 6447676
Fax : (966-2) 6434022
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.
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%)