MIRA INFORM
REPORT
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Report Date : |
01.08.2011 |
IDENTIFICATION DETAILS
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Name : |
AFIA INTERNATIONAL CO |
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Registered Office : |
Industrial City, Phase
3, Street No. 31, PO Box 30439, Jeddah 21477 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
03.10.1993 |
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Com. Reg. No.: |
4030098629, Jeddah |
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Legal Form : |
Public Shareholding Company |
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Line of Business : |
Manufacture, refining and marketing of edible oils |
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$ 700,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Saudi Arabia |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Bottom of Form
SUMMARY
Company Name : AFIA INTERNATIONAL CO
Country of Origin : Saudi Arabia
Legal Form : Public Shareholding Company
Registration Date : 3rd October 1993
Commercial Registration Number : 4030098629, Jeddah
Chamber Membership Number : 47220
Issued Capital : SR 500,000,000
Paid up Capital : SR 500,000,000
Total Workforce : 800
Activities : Manufacture, refining and marketing of edible oils.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 700,000
COMPANY NAME
AFIA INTERNATIONAL CO
company ADDRESS
Registered & Physical Address
Location : Industrial City, Phase 3, Street
No. 31
PO Box : 30439
Town : Jeddah 21477
Country : Saudi Arabia
Telephone : (966-2) 6350000 / 6363767 / 6089453
Facsimile : (966-2) 6373015 / 6373182
Email : info@afia.com.sa
/ msamed@savola.com / wsibiani@savola.com
Premises
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Jeddah.
Branch Office (s)
Subject has branch offices located in Madinah and Riyadh.
KEY PRINCIPALS
Name Position
·
Dr
Abdul Raouf Manaa Chairman
·
Walid Habib Salah General
Manager
·
Matook Al Marfee Plant
Manager
·
Khalid
Radi Finance
Manager
·
Haytham
Rabee Commercial
Manager
·
Telal
Al Jadani Purchasing
Manager
LEGAL FORM & OWNERS
Date of Establishment : 16/04/1414
Hijri (corresponding to 3rd October 1993)
Legal Form :
Public
Shareholding Company
Commercial Reg. No. : 4030098629,
Jeddah
Chamber Member No. : 47220
Issued Capital : SR 500,000,000
Paid up Capital : SR 500,000,000
Name of Shareholder (s)
·
Savola
Group
·
Local
businessmen and private investors
OPERATIONS
Activities: Engaged in the manufacture, refining and
marketing of edible oils.
Import
Countries: Europe and GCC countries.
Brand Names: AFIA, HALA, AL ARABIA, SHAMS, LEEZA, DANA,
NAKHEEL and NAKHATI.
Operating Trend: Steady
Subject has a
workforce of approximately 800 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Saudi
Riyals (SR)
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales SR 85,000,000 SR 87,700,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
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Arab
National Bank
Madinah Road
PO Box: 9463
Jeddah 21413
Tel: (966-2) 6600272
Fax: (966-2) 6650202
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.44.16 |
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UK Pound |
1 |
Rs.72.10 |
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Euro |
1 |
Rs.63.10 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.