MIRA INFORM REPORT
|
Report Date : |
29.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
UNITED FOOD SERVICES CO |
|
|
|
|
Registered Office :` |
Al Khalidiya Area, P O Box 64, Al Khobar 31952 |
|
|
|
|
Country : |
Saudi Arabia |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
25.03.1997 |
|
|
|
|
Com. Reg. No.: |
2051021680, Al Khobar |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business : |
Distributors of general foodstuff products |
|
|
|
|
No. of Employees
: |
85 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
US$ 3,000,000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment
Behaviour : |
Regular |
|
|
|
|
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 : UNITED FOOD SERVICES CO
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 25th March 1997
Commercial Registration Number : 2051021680, Al Khobar
Issued Capital : SR 600,000
Paid up Capital : SR 600,000
Total Workforce : 85
Activities : Distributors of general foodstuff products.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 3,000,000
Person Interviewed : Mario Ibrahim, Chief Financial Officer
COMPANY NAME
UNITED FOOD SERVICES CO
company ADDRESS
Registered &
Physical Address
Location : Al Khalidiya Area
PO Box : 64
Town : Al Khobar 31952
Country : Saudi Arabia
Telephone : (966-3) 8147440
Facsimile : (966-3) 8147450 / 8947455
Email : contact@unitedgroup.com
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Suburban Business Area of Al Khobar.
KEY PRINCIPALS
Name Position
·
Khalid Yousef
Al Haj Managing
Partner
·
Ahmed
Khalid Yousef Al Haj Partner
·
Walid
Khalid Yousef Al Haj Partner
·
Majid
Abu Mahfouz Marketing
Manager
·
Mario
Ibrahim Chief
Financial Officer
LEGAL FORM & OWNERS
Date of Establishment : 17/11/1417
Hijri (corresponding to 25th March 1997)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 2051021680,
Al Khobar
Issued Capital : SR 600,000
Paid up Capital : SR 600,000
Name of Partner
(s)
·
Khalid
Yousef Al Haj
·
Ahmed Khalid
Yousef Al Haj
·
Walid
Khalid Yousef Al Haj
AFFILIATED COMPANIES
·
United
Food Industries
Al Khobar 31952
CR No. 2050012095
·
United
Trading National
Al Khobar 31952
CR No. 2051028313
OPERATIONS
Activities: Engaged in the import and distribution of general
foodstuff products.
Import
Countries: Europe and the
United States of America
International
Suppliers:
·
McDonalds United States of America
Operating Trend: Steady
Subject has a
workforce of 85 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 204,670,000 SR 210,000,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Mario
Ibrahim, Chief Financial Officer
BANKERS
·
National
Commercial Bank
PO Box: 1
Al Khobar 31952
Tel: (966-3) 8949669
Fax: (966-3) 8646474
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.53.21 |
|
UK Pound |
1 |
Rs.83.32 |
|
Euro |
1 |
Rs.69.51 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.