MIRA INFORM
REPORT
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Report Date : |
27.01.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
MANAZEL FOOD PACKAGING FACTORY |
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Registered Office : |
Industrial Area, |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
22.03.2004 |
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Com. Reg. No.: |
4030189800, Al Taif |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Manufacturers of packaging products, including aluminium foil, plastic and paper food wrapping. |
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$ 200,000 |
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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 – 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 |
UMMARY
Company Name : MANAZEL FOOD PACKAGING FACTORY
Also Known As : BANDER ABDULRAHMAN AL GHAMDI EST
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 22nd March 2004
Commercial Registration Number : 4030189800, Al Taif
Chamber Membership Number : 137536
Invested Capital : SR 200,000
Total Workforce : 45
Activities : Manufacturers of packaging products, including aluminium foil, plastic
and paper food wrapping.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
Person Interviewed : Abdulrahman Bin Bader Al Ghamdi, Proprietor
COMPANY NAME
MANAZEL FOOD
PACKAGING FACTORY
ALSO KNOWN AS
BANDER ABDULRAHMAN AL
GHAMDI EST
company ADDRESS
Registered & Physical Address
Location : Industrial Area
PO Box : 2494
Town : Al Taif 21944
Country :
Telephone : (966-2) 7443733
Facsimile : (966-2) 7443583
Email : g.m@manazel.com.sa / info@manazel.com.sa
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Al Taif.
Branch Office (s)
Location Description
·
Jeddah Office
premises
Tel: (966-2) 6821563 / 6821569
Fax: (966-2) 6913509
·
Tel: (966-1) 2446082
KEY PRINCIPALS
Name Position
·
Abdulrahman
Bin Bader Al Ghamdi Proprietor
& General Manager
·
Ahmed
Bin Bader Al Ghamdi Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 01/02/1425
Hijri (corresponding to 22nd March 2004)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030189800,
Al Taif
Chamber Member No. : 137536
Invested Capital
: SR 200,000
Mr Abdulrahman Bin
Bader Al Ghamdi is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the manufacture of packaging
products, including aluminium foil, plastic and paper food
wrapping.
Import
Countries:
Operating Trend: Steady
Subject has a
workforce of 45 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 12,800,000 SR 13,690,000
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
PO Box: 9463
Jeddah 21413
Tel: (966-2) 6600272
Fax: (966-2) 6650202
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 business
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.45.53 |
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1 |
Rs.72.78 |
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Euro |
1 |
Rs.62.14 |
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 |
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.