MIRA INFORM
REPORT
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Report Date : |
18.01.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
MALCO GROUP AL SAUDIAH CO LTD |
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Registered Office : |
Industrial Zone No. 3, |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
24.01.2004 |
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Com. Reg. No.: |
1010193800, |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Production of
bakery products, chocolate, confectionery, ice cream and pasta |
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$ 1,500,000 |
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Status : |
Good |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 : MALCO GROUP AL SAUDIAH CO LTD
Also Known As : SAUDI MALCO GROUP
Country of Origin :
Legal Form : Limited Liability Partnership
Registration Date : 24th January 2004
Commercial Registration Number :
1010193800,
Chamber Membership Number : 141729
Issued Capital : SR 10,000,000
Paid up Capital : SR 10,000,000
Total Workforce : 800
Activities :
Production of bakery products,
chocolate, confectionery, ice cream and
pasta.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 1,500,000
Person Interviewed : Raju Tarfdar, Finance Manager
COMPANY NAME
MALCO GROUP AL SAUDIAH CO LTD
ALSO KNOWN AS
SAUDI MALCO GROUP
company ADDRESS
Registered & Physical Address
Location : Industrial Zone No. 3,
PO Box : 355011
Town :
Country :
Telephone : (966-1) 2656000
Facsimile : (966-1) 2659000
Email : shwki.hilo@saudimalcogroup.com
/ paindor@saudimalcogroup.com
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Riyadh.
KEY PRINCIPALS
Name Nationality Position
·
Hisham Mohamed Al Koussa Lebanese Managing Partner
·
Marwan Mohamed Al Koussa Lebanese Partner
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Rabee Mohamed Al Koussa Lebanese Partner
·
Ali Bin Abdullah Al Tamimi Saudi Partner
·
Tariq
Ali Bin Abdullah Al Tamimi Saudi Partner
·
Telal
Ali Bin Abdullah Al Tamimi Saudi Partner
·
Marwan
Bibi - General
Manager
·
Raju
Tarfdar - Finance
Manager
·
Mohamed
Al Samani - Administration
Executive
LEGAL FORM & OWNERS
Date of Establishment : 02/12/1424
Hijri (corresponding to 24th January 2004)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 1010193800,
Chamber Member No. : 141729
Issued Capital : SR 10,000,000
Paid up Capital : SR 10,000,000
Name of Partner (s)
·
Hisham Mohamed Al Koussa
·
Marwan Mohamed Al Koussa
·
Rabee Mohamed Al Koussa
·
Ali Bin Abdullah Al Tamimi
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Tariq
Ali Bin Abdullah Al Tamimi
·
Telal
Ali Bin Abdullah Al Tamimi
OPERATIONS
Activities: Engaged in the production of
bakery products, chocolate, confectionery, ice cream and pasta.
Subject also provides catering services.
Import
Countries:
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 31/12/08: Year
Ending 31/12/09:
Total Sales SR 71,800,000 SR 75,000,000
Local sources consider
subject’s financial condition to be Good.
The above figures
were provided by Mr Raju Tarfdar, Finance Manager
BANKERS
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Saudi
Investment Bank (SAIB)
PO Box: 3533
Tel: (966-1) 4778433 / 4792851 / 4761580
Fax: (966-1) 4776781 / 4761976
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 |
|
US Dollar |
1 |
Rs.45.59 |
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|
1 |
Rs.72.31 |
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Euro |
1 |
Rs.60.73 |
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.