MIRA INFORM REPORT

 

 

Report Date :           

06.12.2011

 

IDENTIFICATION DETAILS

 

Name :

NESMA RECYCLING CO LTD

 

 

Registered Office :

Al Nuzha District, P O Box 7195, Jeddah 21462

 

 

Country :

Saudi Arabia

 

 

Date of Incorporation :

20.01.2003

 

 

Com. Reg. No.:

4030141465, Jeddah

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Recycling of scrap metal and other waste materials

 

 

No. of Employees :

300 Persons

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 250,000

Status :

Satisfactory

Payment Behaviour :

No Complaints

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Saudi Arabia

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : NESMA RECYCLING CO LTD

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Limited Liability Partnership

Registration Date                                   : 20th January 2003

Commercial Registration Number            : 4030141465, Jeddah

Chamber Membership Number                : 97742

Issued Capital                                        : SR 1,000,000

Paid up Capital                                      : SR 1,000,000

Total Workforce                                     : 300

Activities                                               : Recycling of scrap metal and other waste materials

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 250,000

Person Interviewed                                 : Faisal Al Anasri, Administration Manager

 

 

 

COMPANY NAME

 

NESMA RECYCLING CO LTD

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Al Nuzha District

PO Box             : 7195

Town                 : Jeddah 21462

Country             : Saudi Arabia

Telephone         : (966-2) 6581188 / 6693322 / 6059588 / 6589053 / 6589058

Facsimile          : (966-2) 6594848 / 6587306

Mobile               : (966-50) 4601904 / (966-55) 0070033

Email                : namawp@nesma.com / f.ansari@nesma.com

 

Premises

Subject operates from a large suite of offices and a warehouse that are rented and located in the Suburban Business Area of Jeddah.

 

Branch Offices

 

     Location                                                                                          Description

 

·       Al Hamra District                                                                               Office premises

Jeddah

Tel: (966-2) 6693322

Fax: (966-2) 6693322

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Sheikh Saleh Ali Abdulrahman Al Turki                                               Managing Partner

 

·       Layaqat Ali                                                                                       General Manager

 

·       Faisal Al Anasri                                                                                Administration Manager

 

·       Mohamed Al Akkaz                                                                           Finance Manager

 

·       Naghi Hosni                                                                                      Financial Controller

 

·       Marwan Al Shareef                                                                            Public Relations Manager

 

·       Mazen Monshi                                                                                  Commercial Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 17/11/1423 Hijri (corresponding to 20th January 2003)

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 4030141465, Jeddah

 

Chamber Member No. : 97742

 

Issued Capital              : SR 1,000,000

 

Paid up Capital            : SR 1,000,000

 

Name of Partner (s)

 

·       Sheikh Saleh Ali Abdulrahman Al Turki

 

·       Nesma Holding

PO Box: 7195

Jeddah 21462

Tel: (966-2) 6693322

Fax: (966-2) 6696499

 

 

AFFILIATED COMPANIES

 

Subject belongs to the Nesma group of companies that consists of the following concerns:

 

·       Nesma Shipping

 

·       Nesma Aviation

 

·       Nesma Orbit

 

·       Unitrade

 

·       Al Faris Al Arabi Trading Company

 

·       Nesma Electronics

 

·       Shaheen Arabia Development Co Ltd

 

·       IBS

 

·       Kaefer

 

·       Nesma & Partners

 

·       Nesma Eser Onur

 

·       Nesma Havatek

 

·       Al Faris Food Industries Ltd

 

·       Nesma Batterjee

 

·       Nesma Embroidery

 

·       Nesma Ommat

 

·       Koncar

 

·       Nesma Electric

 

·       Al Bishara

 

·       Nesma Real Estate

 

·       Jollibee

 

·       Nesma Chocolate

 

·       Nesma Markets

 

·       Financial Investments Group

 

·       NDigitec

 

·       Nesma Security

 

·       Nesma Trading

 

·       Pannesma Co Ltd

 

·       Jadarah

 

·       Mihnati

 

·       Nesma Advanced Technology

 

·       Nesma Mahkaa

 

·       Nesma Telecom

 

·       Norconsult

 

·       TCIL

 

·       Bargail

 

·       Istanbul Lines

 

·       Namma Container Lines

 

·       Namma Cargo

 

·       Namma Shipping Lines

 

·       NPS

 

·       Negmar

 

·       Nesma Airlines

 

·       Mawaddah

 

·       Namma Tours

 

·       Nesma Travel

 

 

OPERATIONS

 

Activities: Engaged in the collection and processing of discarded paper, metals and plastics.

 

Nesma Recycling provides a comprehensive range of scrap management and technically advanced scrap handling services for all types of industry accounts throughout metropolitan Jeddah and the Kingdom of Saudi Arabia. Extensive scrap processing and preparation is completed at our facility situated near the industrial area of Jeddah.

Subject has a workforce of approximately 300 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

 

·       Arab National Bank (ANB)

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.40

UK Pound

1

Rs.80.20

Euro

1

Rs.68.92

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.