MIRA INFORM REPORT

 

 

Report Date :

19.02.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

RAWABI MARKETING INTERNATIONAL (RMI)

 

 

Registered Office :

30th Street, Olaya District, P O Box 2951, Riyadh 11461

 

 

Country :

Saudi Arabia

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

21.03.1994

 

 

Com. Reg. No.:

1010152063, Riyadh

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Stockists and suppliers of chemicals, as well as general contractors,  specialising in water and sewage works and chemical transport tankers

 

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$ 3,000,000

Status :

Good

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

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                                     : RAWABI MARKETING INTERNATIONAL (RMI)

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Limited Liability Partnership

Registration Date                                   : 21st March 1994

Commercial Registration Number            : 1010152063, Riyadh

Chamber Membership Number                : 92854

Issued Capital                                        : SR 6,000,000

Paid up Capital                                      : SR 6,000,000

Total Workforce                                     : 220

Activities                                               : Stockists and suppliers of chemicals, as well as general contractors,

                                                              specialising in water and sewage works and chemical transport tankers

Financial Condition                                 : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 3,000,000

Person Interviewed                                 : Ayman Rawashada, Finance Manager

 

 

COMPANY NAME

 

RAWABI MARKETING INTERNATIONAL (RMI)

 

 

company ADDRESS

 

Registered & Physical Address

Street               : 30th Street

Area                 : Olaya District

PO Box             : 2951

Town                 : Riyadh 11461

Country             : Saudi Arabia

Telephone         : (966-1) 4647711 / 4762735 / 4783986 / 2170865

Facsimile          : (966-1) 2170866 / 4774426

Email                : info@rawabi.com.sa

 

Premises

Subject operates from a medium sized suite of offices that are owned and located in the Central Business Area of Riyadh.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       PO Box: 33508                                                                                 Sales office & warehouse

Jeddah 21458

Tel: (966-2) 6973203 / 6824251

Fax: (966-2) 6372116

 

·       Sitteen Commercial Center, 5th Floor                                                   Sales office

Sitteen Street

Riyadh

 

·       PO Box: 4596                                                                                   Sales office & warehouse

     Al Khobar 31952

     Tel: (966-3) 8330314 / 8323270

     Fax: (966-3) 8322939

 

·       Salahadin Street                                                                               Sales office & warehouse

     Riyadh

Tel: (966-1) 4621364 / 4621367

Fax: (966-1) 4624274

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·         Saud Mohamed Nasser Al Arifi                                                          Managing Partner

 

·         Matar Saud Mohamed Nasser Al Arifi                                                Partner

 

·         Bandar Saud Mohamed Nasser Al Arifi                                              Partner

 

·         Barakat Saud Mohamed Nasser Al Arifi                                             Partner

 

·         Khalil Turki Sulaiman                                                                        Partner

 

·         Nazar Ayad                                                                                     Commercial Manager

 

·         Sibiti Homaidan                                                                               Purchasing Manager

 

·         Fadi Al Hassan                                                                                Sales Manager

 

·         Ayman Rawashada                                                                          Finance Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 21st March 1994

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 1010152063, Riyadh

 

Chamber Member No. : 92854

 

Issued Capital              : SR 6,000,000

 

Paid up Capital            : SR 6,000,000

 

Name of Partner (s)

 

·         Saud Mohamed Nasser Al Arifi

 

·         Matar Saud Mohamed Nasser Al Arifi

 

·         Bandar Saud Mohamed Nasser Al Arifi

 

·         Barakat Saud Mohamed Nasser Al Arifi

 

·         Khalil Turki Sulaiman

 

AFFILIATED COMPANIES

 

·       Scientific Medical Equipment House (SMH)

Riyadh

     Saudi Arabia

 

·       National Co For Sulphur Products

Riyadh

     Saudi Arabia

 

·       German Metal Surface Treatment Chemicals Co

Riyadh

     Saudi Arabia

 

 

OPERATIONS

 

Activities: Engaged as stockists and suppliers of water and sewage treatment chemicals, industrial chemicals,

industrial solvents, metal surface treatment chemicals, electroplating chemicals and food industrial chemicals.

 

Subject is also engaged as general contractors, specialising in water and sewage works and chemical transport tankers.

 

Rawabi Marketing International (RMI) has a fleet consisting of more than 30 Trailers and 25 Road Tankers to deliver bulk chemicals.

 

On 3rd March 2004, RMI signed a supply agreement for Sulphuric Acid and Caustic Soda with Saudi Aramco. The value of the contract was not disclosed.

 

Import Countries: The Netherlands, Germany, Italy and India

 

International Suppliers:

 

·       Navdeep Chemicals Pvt Ltd                India

 

Export Countries: GCC countries, Jordan, Lebanon, Syria, Egypt and Yemen

 

Operating Trend: Steady

 

Subject has a workforce of approximately 220 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Saudi Riyals (SR)

 

                                    Year Ending 31/12/07:                Year Ending 31/12/08:                Year Ending 31/12/09:

 

Total Sales                    SR 198,000,000             SR 322,000,000             SR 327,000,000

 

Local sources consider subject’s financial condition to be Good.

 

The above financial figures were confirmed by Ayman Rawashada, Finance Manager

 

 

BANKERS

 

·       Riyad Bank

King Abdul Aziz Road

PO Box: 22622

Riyadh 11416

Tel: (966-1) 4013030

 

·       Saudi Investment Bank (SAIB)

PO Box: 3533

Riyadh 11481

Tel: (966-1) 4778433 / 4792851 / 4761580

     Fax: (966-1) 4776781 / 4761976

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                  December 1999                        July 2007                      July 2008

Credit amount                            32,010                          202,000             300,000

Amount overdue             0                                  0                                  0

Payment terms                          30 days                         180 days                       180 days

Payment Method                       Letters of Credit             Letters of Credit             Letters of Credit

Paying record                            No Complaints               No Complaints               No Complaints

Currency                                   Pounds Sterling             Pounds Sterling             Euros

 

GENERAL COMMENTS

 

Rawabi Marketing International (RMI) was established in 1994 and is engaged in the import and distribution of chemicals. It is owned by members of the Al Arifi family who are wealthy and respected businessmen in the local community.

 

Local sources report that the subject enjoys a good reputation for the quality of its products and meets its payment obligations in a timely manner.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.18

UK Pound

1

Rs.73.04

Euro

1

Rs.61.43

 

 

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

 

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.