MIRA
INFORM REPORT
|
Report Date : |
29.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
BIN HENDI FACTORY FOR SCAFFOLDING AND CONSTRUCTION REQUISITES |
|
|
|
|
Registered Office : |
Salim Bin Hindi Al |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
18.10.1999 |
|
|
|
|
Com. Reg. No.: |
4030188128 |
|
|
|
|
Legal Form : |
Branch of A Limited Partnership Business |
|
|
|
|
Line of Business : |
Manufacturers And Distributors of Steel
Scaffolding, Steel Windows And Doors |
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 : |
SR 400,000 |
|
Status : |
Satisfactory |
|
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 |
COMPANY
NAME
Bin Hendi Factory For Scaffolding And
Construction Requisites
COMPANY ADDRESS
Building : Salim Bin Hindi Al Harbi Building
Street : Old Makkah Road
Area : Kilo 8 Area
P.O.Box No. : 46217
Town :
Jeddah 21532
Country : Saudi Arabia
Telephone : (966 2) 620 0613 /212 0388 / Mobiles (966 50) 662 4043
(Mohammed
Salem) / (966 55) 698 5242 (Mohammed Al
Amoudi)
Fax : (966 2) 657 9617 / 212 0314
Also
known as : Bin Hendi Factory For
Scaffolding And Construction Requisites (Manar Al Omran Co.)
SENIOR COMPANY PERSONNEL
Name Position
1. Eng. Mohammed Salem General Manager
2. Aymen Al Maghadi Chief
Accountant
3. Eng. Yassine Naddaf Technical
Manager
4. Sayed Khalifa Production
Manager
Total Employees : 400
PAYMENTS
No complaints have been heard regarding payments from local suppliers or
banks.
This
undertaking comprises a registered branch of Manar Al Omran Trading & Industrial Co. Ltd.
We consider it is acceptable to deal with subject for MEDIUM 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 Manar Al Omran Trading & Industrial Co. Ltd.
Opinion on maximum credit : SR 400,000
Trade risk assessment: Normal
PRINCIPAL
BANKERS
NAME : NATIONAL COMMERCIAL BANK (AL AHLI)
Branch : King Abdul Aziz Street
P.O. Box : 3555
Town :
Jeddah 21481
Telephone : (966 2) 642
3794
Fax : (966 2) 644 6644
The company also
has an account with the following banks:
1. SAMBA Financial Group (formerly Saudi American Bank)
Dr Abudl Hadi Taher
Building,
Telephone : (966 2) 653 3555
Fax :
(966 2) 651 4925
2. Al Rajhi Bank
King Abdul Aziz Street, PO Box 605, Jeddah
21421
Telephone :
(966 2) 644 7674
Fax
: (966 2) 643 4032
FINANCIAL
INFORMATION
Private companies in Saudi Arabia are not required to publish or
disclose balance sheets. However, the subject interviewed offered the following
information :
Sales Turnover : SR 10,000,000 - 2009 - exact
: SR 12,000,000 - 2010 - exact
Net Profit : SR 1,000,000 - 2009 - exact
: SR 1,300,000 - 2010 - exact
Financial year ends 31 December.
LEGAL STATUS AND
HISTORY
Date Started : 18 October 1999
(09/07/1420 H)
Histor : Subject was
established in Saudi Arabia on 18 October 1999 (09/07/1420 H) as a registered
branch of “Salem Al Harbi Establishment”. On 3 March 2009 (03/04/1430 H)
subject was converted into a registered branch of “Manar Al Omran Trading &
Industrial Co. Ltd.”.
Sub C.R. No. : 4030188128 (expiry date:
03/02/2014 / 03/04/1435 H))
JCCI Membership No. : 138846
Industrial License No. : 1045/S
Authorised Capital : SR 1,000,000
Paid-Up Capital : SR 1,000,000
Subject is a branch of a
Limited Partnership Business with the following officials :
1. Eng. Mohammed Salem
2. Aymen Al Maghadi
Subject is a registered branch of the following company :
Manar Al Omran Trading
& Industrial Co. Ltd.
PO Box 10886, Jeddah
21532
Telephone: (966 2) 620 4582
Fax : (966 2) 620 7194
C.R. No. : 4030177499 (expiry date : 27/01/2013 /
15/03/1434 H)
Est. Date: 23 March 2008 (15/03/1429 H)
Affiliated companies of Manar Al Omran Trading & Industrial Co.
Ltd.:
Associates
1. Salim Bin Hindi
Al-Harabi & Partners Holding Co.
PO Box 46218, Jeddah 21532
Telephone :
(966 2) 620 8432
Fax
:
(966 2) 620 5043
Commercial Record No : 4030036068
2. Salem Hendy Al-Harbi
Office
PO Box 46217, Jeddah 21532
Telephone :
(966 2) 620 0613
Fax
:
(966 2) 620 7194
E-Mail
:
info@manar.com.sa
Website :
www.manar.com.sa
Commercial Record No : 4030008608
3. Hassan Mohamed
Al-Shamrani Contracting Est.
PO Box 46217, Jeddah 21532
Telephone :
(966 2) 620 0500
Fax
:
(966 2) 620 7194
Commercial Record No : 4030034285
4. Majed Salem
Al-Saa'idi Gen. Contracting Est.
PO Box 46217, Jeddah 21532
Telephone :
(966 2) 251 1555
Fax
:
(966 2) 252 5212
Commercial Record No : 4030141344
5. Ghazi Muhammad
Al-Saa'idi Trading Est.
PO Box 46217, Jeddah 21532
Telephone :
(966 2) 620 0500
Fax
:
(966 2) 620 7194
Commercial Record No : 4030146370
6. Abdullah Salim Hindi
Al Harbi Trading Est.
PO Box 46218, Jeddah 21532
Telephone :
(966 2) 620 0777
Fax
:
(966 2) 620 5043
ACTIVITIES
The Company is involved in the following activities :
Manufacturers and distributors of steel scaffolding, steel windows and
doors.
Imports mainly from China, India and United Arab Emirates.
Exports to Egypt and GCC countries.
FACILITIES
The Company has the following facilities :
Owned office premises located at the heading address as well as an
owned manufacturing unit and storage
facilities located elsewhere in Makkah Road.
SPECIAL NOTE
Interviewed: Mohammed Salem (General
Manager).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.74 |
|
|
1 |
Rs.72.73 |
|
Euro |
1 |
Rs.62.73 |
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.