MIRA INFORM REPORT

 

 

Report Date :

14.06.2011

 

IDENTIFICATION DETAILS

 

Name :

NAJDIYAH MARKETING COMPANY LTD

 

 

Registered Office :

New Akariya Building, 2nd Tower, 5th Floor Sitteen Street Malaz District PO Box 28519 Riyadh 11437

 

 

Country :

Saudi Arabia

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

24.04.1993

 

 

Com. Reg. No.:

1123000975, Al Zulfi

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Processing and marketing of dairy products.

 

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$ 1,750,000

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 – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

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                                     : NAJDIYAH MARKETING COMPANY LTD

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Limited Liability Partnership

Registration Date                                   : 24th April 1993

Commercial Registration Number            : 1123000975, Al Zulfi

Chamber Membership Number                : 75143

Issued Capital                                        : SR 1,000,000

Paid up Capital                                      : SR 1,000,000

Total Workforce                                     : 530

Activities                                               : Processing and marketing of dairy products.

Financial Condition                                 : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 1,750,000

Person Interviewed                                 : Ahmed Karar, Finance Manager

 

 

COMPANY NAME

 

NAJDIYAH MARKETING COMPANY LTD

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : New Akariya Building, 2nd Tower, 5th Floor

Street               : Sitteen Street

Area                 : Malaz District

 

PO Box             : 28519

 

Town                 : Riyadh 11437

Country             : Saudi Arabia

 

Telephone         : (966-1) 4776324 / 4788760 / 4768993

Facsimile          : (966-1) 4790591

Email                : info@najdiyah.com

 

Premises

 

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

 

Branch Office (s)

 

     Location                                                                                           Description

 

·       Al Zulfi                                                                                              Owned factory premises

Tel: (966-6) 4232894

Fax: (966-6) 4232895

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Abdullah Ibn Ibrahim Al Hobayyeb                                                       Managing Partner

 

·       Ibrahim Ibn Abdullah Al Hobayyeb                                                       Partner

 

·       Majid Al Oraidi                                                                                  Assistant General Manager

 

·       Ahmed Karar                                                                                    Finance Manager

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 03/11/1413 Hijri (corresponding to 24th April 1993)

 

History                         : Subject was originally established in 1993 as a Limited Liability

  Partnership between the following two Saudi partners:

 

                                      -  Meshari Company (Omeer)

                                      -  Abdullah Ibn Meshari Al Omeer

 

                                      In 1995, the two partners withdrew from the business and assigned

  all their shares in the company to two new partners, namely Mr

  Abdullah Ibn Ibrahim Al Hobayyeb and Mr Ibrahim Ibn Abdullah Al

  Hobayyeb.

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 1123000975, Al Zulfi

 

Chamber Member No. : 75143

 

Issued Capital              : SR 1,000,000

 

Paid up Capital            : SR 1,000,000

 

Name of Partner (s)                                                        Percentage

 

·       Abdullah Ibn Ibrahim Al Hobayyeb                                    75%

 

·       Ibrahim Ibn Abdullah Al Hobayyeb                                    25%

 

 

AFFILIATED COMPANIES

 

·       Inara Company Ltd

     Sitteen Street

     Malaz

     PO Box: 8326

     Riyadh 11482

     Saudi Arabia

     Tel: (966-2) 4791902

     Fax: (966-2) 4467507 / 4772328

     Email: inara-sales@inara.com

 

·       Inara Trading Est

     Showroom No 6, Al Reem Residency

     Zabeel Road

     PO Box: 27841

     Dubai

     United Arab Emirates

     Tel: (971-4) 3348900 / 2673441 / 3346999

     Fax: (971-4) 3344417

 

·       Inara Company Ltd Sarl

International Key Building, 2nd Floor

Jisr El Bacha Road

Baabda, Greater Beirut

PO Box: 118402 / 113491

Hazmieh

Lebanon

Tel: (961-1) 457574 / 455454 / 457575

Fax: (961-1) 456467

 

·       Abanee Trading Est

 

·       Al Mayamen Trading

 

 

OPERATIONS

 

Activities: Engaged in the processing and marketing of dairy products, including milk and cream, natural and fresh laban, yoghurt, butter and samnah.

 

Import Countries: France and the United Kingdom

 

Brand Names: NAJDIYAH & BANNI

 

Operating Trend: Steady

 

Subject has a workforce of approximately 530 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 153,600,000             SR 160,000,000

 

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

 

The above figures were provided by Mr Ahmed Karar, Finance Manager

 

 

BANKERS

 

·       National Commercial Bank

Malaz Branch

PO Box: 42536

Riyadh 11551

Tel: (966-1) 4776450

Fax: (966-1) 4769502

 

·       Riyad Bank

King Abdul Aziz Road

PO Box: 22622

Riyadh 11416

Tel: (966-1) 4122243

Fax: (966-1) 4013030

 

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.87

UK Pound

1

Rs.72.83

Euro

1

Rs.64.37

 

 

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%)

 

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.