MIRA INFORM REPORT
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Report Date : |
29.12.2011 |
IDENTIFICATION DETAILS
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Name : |
RAYAN PLASTIC FACTORY CO |
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Registered Office : |
Al Kharj Road, New
2nd Industrial City, Phase C, P O Box 99862, Riyadh 11625 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
08.06.1991 |
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Com. Reg. No.: |
1010213199, Riyadh |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacture of plastic products |
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No. of Employees
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100 |
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 |
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
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Saudi Arabia
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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 |
SUMMARY
Company Name : RAYAN PLASTIC FACTORY CO
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 8th June 1991
Commercial Registration Number : 1010213199, Riyadh
Chamber Membership Number : 22205
Issued Capital : SR 30,000,000
Paid up Capital : SR 30,000,000
Total Workforce : 100
Activities : Manufacture of plastic products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 500,000
Person Interviewed : Ahmed Saleh, Finance Manager
COMPANY NAME
RAYAN PLASTIC FACTORY CO
company ADDRESS
Registered &
Physical Address
Street : Al Kharj Road
Area : New 2nd Industrial City,
Phase C
PO Box : 99862
Town : Riyadh 11625
Country : Saudi Arabia
Telephone : (966-1) 2651313
Facsimile : (966-1) 2941328
Email : mail@rayanplastic.com / rayan1@nesma.net.sa
Premises
Subject operates
from a medium sized suite of offices and a factory covering an area of 15,000
square metres that are owned and located in the Industrial Area of Riyadh.
KEY PRINCIPALS
Name Position
·
Hassan Ali Al Sairafi Managing
Partner
·
Sami Joudah General
Manager
·
Ahmed Saleh Finance
Manager
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Bashir Joudah Production
Manager
·
Nabil Saad Technical
Manager
LEGAL FORM & OWNERS
Date of Establishment : 8th
June 1991
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 1010213199,
Riyadh
Chamber Member No. : 22205
Issued Capital : SR 30,000,000
Paid up Capital : SR 30,000,000
Name of Partner (s)
·
Hassan Ali Al Sairafi
·
Al Khaleej Contracting, Industry & Trading Co
Riyadh
Saudi
OPERATIONS
Activities: Engaged in the manufacture of plastic
products, including polyethylene bags, polyethylene
rolls,
disposable
spoons, disposable forks and plates.
Import
Countries: India, Belgium
and the United States of America.
Operating Trend: Steady
Subject has a
workforce of approximately 100 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 25,200,000 SR 26,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Arab
National Bank (ANB)
King Faisal Street
North Morabbaa
PO Box: 56921
Riyadh 11564
Tel: (966-1) 4029000
Fax: (966-1) 4027747
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.53.21 |
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UK Pound |
1 |
Rs.83.32 |
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Euro |
1 |
Rs.69.51 |
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.