MIRA
INFORM REPORT
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Report Date : |
20.01.2011 |
IDENTIFICATION DETAILS
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Name : |
LULU SAUDI HYPERMARKETS LLC AL KHOBAR |
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Formerly Known As : |
LULU INTERNATIONAL GRAND MARKET CO. LTD (AL KHOBAR) |
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Registered Office : |
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Country : |
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Year of Establishment : |
2007 |
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Com. Reg. No.: |
2050052123 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Operators of a hypermarket |
RATING & COMMENTS
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MIRAs 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 : |
SR 8,000,000 |
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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 |
Company NAME
Lulu
Saudi Hypermarkets LLC Al Khobar (Correct)
SAUDI HYPERMARKETS L.L.C (Requested)
ADDRESS
Building :
Street :
Area : Near
P.O. Box : 248
Town : Al Khobar 31952
Country :
Telephone : (966 3) 894
7575 / 898 3745
Fax : (966 3) 889 8336 / 894 7676 / 896 0239
E-Mail : lulueastern@sa.lulumea.com
Website : www.sa.lulumea.com
Trading Styles : Lulu Hypermarket / Lulu Saudi Hypermarket LLC
Also Known as :
Lulu International Grand Market Co. Ltd (Al Khobar)
SENIOR COMPANY PERSONNEL
Name Position
1. Yousuf Ali Masaliam Vitil Abdulqader Managing
Director
2. Abdul Basheer M. Regional Manager
3. Hashim K. General Manager (Khobar
Branch)
4. Mohammed Sharif Accounts Manager (Khobar Branch)
Total Employees : 500 (subject)
22,000 (group)
PAYMENTS
No complaints have been heard regarding payments from local suppliers or
banks.
This undertaking comprises a registered branch of Lulu International
Grand Market Co. Ltd.
Subject is a member of the important EMKE Group headquartered in UAE
and headed by EMKE Store (UAE). The Group operates popular brands of
retail chain stores that include the renowned Lulu chain of
supermarkets, department stores, hypermarkets and now shopping malls.
EMKE Group's retail chains cater to over 320,000 customers everyday
and enjoy over 32% of the total retail market share within the GCC.
Ranked as one of the biggest Indian-owned conglomerates in the Gulf,
the group's employee profile offers a snapshot of multi-ethnicity,
employing more than 22,000 people with consolidated sales turnover in
the region of Dh 10 billion.
Associations inspire added confidence and we consider it is
acceptable to deal with subject for LARGE amounts. However it should be
borne in mind that subject is only a branch operation and international
suppliers may prefer to see the complete picture by obtaining information on
Lulu International Grand Market Co. Ltd.
Opinion on maximum credit : SR 8,000,000 (associations inspire
confidence for higher amounts if
required)
Trade risk assessment :
PRINCIPAL BANKERS
NAME : SABB (FMLY SAUDI
BRITISH BANK)
Branch :
PO Box : 35
Town : Al Khobar 31952
Telephone: (966 3) 864 2868
Fax : (966 3) 894 3890
The company also has an account with the following banks :
1. Al Rajhi Bank
Dammam 31411
Telephone: (966 3) 834 2560
Fax : (966 3) 832 3943
2. National Commercial Bank (Al Ahli)
Al Khobar
Telephone: (966 3) 864 6474
Fax : (966 3) 894 5696
3. Samba Financial Group (fmly Saudi American Bank)
Al Khobar 31421
Telephone: (966 3) 894 5630
Fax : (966 3) 857 5503
FINANCIAL INFORMATION
Private companies in
the following information :
Sales Turnover : SR 420,000,000 - 2010 approx
Net Profit : not given but stated to be 8%-12%
of the sales
Financial year ends 31 December.
The following financial information applies to Lulu International Grand
Market Co. Ltd :
Sales Turnover : SR 720,000,000 - 2008 - exact
: SR 855,000,000 - 2009 exact
: SR 945,000,000 2010 - approx
Net Profit : not given but stated to be 8%-12%
of sales
Financial year ends 31 December.
The following financial information applies to subjects
Sales Turnover : SR 420,000,000 - 2008 - exact
:
SR 485,000,000 - 2009 exact
: SR 525,000,000 2010 - approx
Net Profit : not given but stated to be 8%-12%
of sales turnover
Financial year ends 31 December.
The following financial information applies to the EMKE Group (latest
available):
Sales Turnover : Dh
4,000,000,000 - 2006 - exact
: Dh 7,000,000,000 - 2007 - exact
: Dh 8,000,000,000 - 2008 - exact
: Dh 10,000,000,000 2009
exact
Net Profit : not given
Financial year ends 31 December.
LEGAL STATUS AND HISTORY
Date Started : 2007 (1428 H)
History : Subject was established in
Sub C.R. No. : 2050052123 (expiry date: 7 March 2013 / 25/04/1434 H)
Authorised Capital : SR 25,000,000 (Lulu International Grand Market Co.
Ltd)
Paid up Capital : SR 25,000,000 (Lulu International Grand Market Co.
Ltd)
Subject is a registered branch of a Limited Liability Company with
the following officials :
1. Yousuf Ali Masaliam Vitil Abdulqader
2. Ali Mosaad Mohammed
Subject is a registered branch of the following company
Lulu International Grand Market Co. Ltd
from
Telephone: (966 1) 491 8169
Fax : (966 1) 491 3089
Est. : 2007
C.R. No. : 1010215588
Capital : SR 25,000,000
Shareholders
Percentage
1. Yousuf Ali Masaliam Vitil Abdulqader 49.00%
(Indian national)
2. Ali Mosaad Mohammed 51.00%
(Saudi national)
Personal Profile on Yousuf Ali Masaliam Vitil Abdulqader:
Yousuf Ali Masaliam Vitil Abdulqader, Managing Director of Emke
Group ranks today among the top NRI Business personalities.
Yusuf Ali Masaliam Veettil Abdulqader holds the following positions:
- Chairman - Lakeshore Hospital & Research Center Ltd.,
Kerala.
- Managing Director - Lulu International Shopping Mall,
Kerala.
- Managing Director - Lulu International Convention Centre, Thrissur,
Kerala.
Government Bodies & Agencies:
- Member - U.A.E - Kerala Joint Working Group.
- Member - Overseas Indian Facilitation Centre.
- Director Board Member,
(ADCCI). Elected by the business
community in
Director Board member of the Abu
Dhabi Chamber of Commerce &
Industry (ADCCI) in the year
2005. This was the first time that
elections were held for the
ADCCI and expatriate was elected to the
Director Board of one of the
world's most prosperous and wealthy
business regulatory authorities.
In addition to this, he was also
unanimously elected by the Board
members as the Vice-chairman of
the prestigious Trade Committee
of the ADCCI.
- Director - Cochin International Airport Ltd. (CIAL)
- Director - Kerala State Industrial Development Corporation Ltd.,
(KSIDC).
- Vice Chairman - Non-Resident Keralites Affairs Committee (NORKA
ROOTS), Govt. of Kerala.
- Former Special Invitee to the Board of Directors - Air
Indian Airlines Ltd. (1997 -
1998).
- Former Member - Central Wakf Council, Government of
Social, Educational & Charitable
- Chairman - Muslim Educational
- Chief Patron - Le Mer Public School.
- Vice chairman -
- Founder Member - Indian Business / Professional Group, U.A.E.
- Member - Indian Business & Professional Council,
- Chief Patron - Indian Islamic Centers in U.A.E.
Yusuf Ali Masaliam Veettil Abdulqader is an Indian national, born in
1955 and married with 3 children.
Affiliated companies of Lulu Saudi Hypermarkets LLC Al Khobar :
Associates
Subject is a member of the important EMKE Group headquartered in UAE
and headed by EMKE Store (UAE), which also includes the following
companies :
1.
Al Ain
Telephone: (971 3) 766 7979
Fax : (971 3) 766 7978
2. Syscoms Information Tech
Al Ain
Telephone: (971 3) 765 7575
Fax : (971 3) 765 7574
3. Al Falah Plaza
Al Ain
Telephone: (971 3) 766 2200
Fax : (971 3) 766 5533
4. Khalidiya Mall
Telephone: (971 2) 642 7800
Fax : (971 2) 642 7800
5. Al Wahda Mall
Telephone: (971 2) 443 7700
Fax : (971 2) 443 7171
6. Al Raha Mall
Telephone: (971 2) 556 2229
Fax : (971 2) 556 1789
7.
Telephone: (971 2) 678 0707
Fax : (971 2) 678 0708
8. Al Falah Plaza
Telephone: (971 2) 642 5800
Fax : (971 2) 642 5252
9. Emirates General Market
Telephone: (971 2) 631 6262
Fax : (971 2) 631 5525
10.
Telephone: (971 2) 674 7500
Fax : (971 2) 627 2910
11. EMKE General Trading
Telephone: (971 4) 267 0077
Fax : (971 4) 267 0088
12. Al Tayeb Meat Establishment
Trading in fresh meat
Beniyas
Telelephone: (971 4) 273 2141
13. Asif Jewellery
Manufacturers and retailers of
gold jewellery
Telephone: (971 2) 633 1366 /
632 1221
14. Huda Clearing and Forwarding
Telephone: (971 2) 272 1163
15. System Computers Est.
Telephone: (971 2) 631 8131
Fax : (971 2) 631 8418
Telex : 22383 SYSCOMS
16. Gulf Store Garments Est.
17. EMKE Stores
New
Telephone: (971 2) 673 2131 /
648 0786 / 648 1100 (head office)
Fax : (971 2) 673 2151 / 644 7859
18. Nutfoods East Africa Ltd
Sar Es Salam
Telephone: (255 2) 210 0057
19. EK Prima Exports
Telephone: (86 52) 2603 2658
20.
Fahaheel
Telephone: (965) 2391 0111
Fax : (965) 2391 0122
21. EK Prima Exports
64/16 Sukhumvil
Telephone: (662) 663 4880
Fax : (662) 663 4882
22. EMKE Garments (
Telephone: (254 41) 432 585
Fax : (254 41) 432 390
23. EK Prima Exports
Telephone: (86 21) 6372 5017
Fax : (86 21) 6359 3678
24. PTEK Prima Ekports
Mangga Dua Raya Block
Telephone: (62 21) 612 8791
Fax : (62 21) 601 9438
25. Fair Exports Pvt Ltd
Industrial Area
Shahibabad
Telephone: (99 120) 477 1126
Fax : (99 120) 477 1125
26.
Sultan
Baucher
Uzaiba 130
CR No. : 1/61772/9
ACTIVITIES
The Subject is involved in the following activities :
Operators of a hypermarket.
Importers, wholesalers and retailers of frozen food, including lamb,
chicken, fish and vegetables and all types of foodstuffs as well as a
wide range of items such as kitchen, bathroom accessories, jewellery,
music, footwear, garments, cosmetics and stationery.
Imports from
Subject does not export, all sales are domestic.
FACILITIES
The Subject has the following facilities :
Owned premises comprising administrative offices and a hypermarket
with adjoining facilities located at the heading address.
SPECIAL NOTE
You enquired on : SAUDI HYPERMARKETS L.L.C. Please note that subject's
correct registered name is as per heading.
Interviewed: Mohammed Sharif (Accounts Manager (Khobar Branch)).
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.38 |
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1 |
Rs.72.71 |
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Euro |
1 |
Rs.61.15 |
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 SCs 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.