MIRA INFORM REPORT

 

 

Report Date :

18.05.2011

 

IDENTIFICATION DETAILS

 

Name :

AL BILAD CATALYST CO LTD

 

 

Registered Office :

Jubail Industrial City PO Box 10174 Jubail 31961

 

 

Country :

Saudi Arabia

 

 

Date of Incorporation :

09.05. 1992

 

 

Com. Reg. No.:

2055002862, Jubail

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Regeneration and recycling of spent catalysts.

 

 

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$ 600,000

 

 

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 – December 31, 2010

 

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

Saudi Arabia

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : AL BILAD CATALYST CO LTD

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Limited Liability Company

Registration Date                                   : 9th May 1992

Commercial Registration Number                        : 2055002862, Jubail

Chamber Membership Number                : 50119

Issued Capital                                        : SR 10,000,000

Paid up Capital                                      : SR 10,000,000

Total Workforce                                     : 200

Activities                                               : Regeneration and recycling of spent catalysts.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 600,000

 

COMPANY NAME

 

AL BILAD CATALYST CO LTD

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : Jubail Industrial City

 

PO Box             : 10174

 

Town                 : Jubail 31961

Country             : Saudi Arabia

 

Telephone         : (966-3) 3589080 / 3588536

Facsimile          : (966-3) 3581312

Email                : general@bilad-catalyst.com

 

Premises

 

Subject operates from a large suite of offices and a factory that are rented and located in the Industrial Area of Jubail.

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Saleh Abdul Hafiz Abu Al Teen                                                           General Manager

 

·       Issa Awad Al Shammary                                                                    Public Relations Manager

 

·       Riad Abid                                                                                         Finance Manager

 

·       Parvin Philips                                                                                    Factory Manager

 

·       Bejoy Balan                                                                                      Marketing Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 08/11/1412 Hijri (corresponding to 9th May 1992)

 

Legal Form                  : Limited Liability Company

 

Commercial Reg. No.  : 2055002862, Jubail

 

Chamber Member No. : 50119

 

Issued Capital              : SR 10,000,000

 

Paid up Capital            : SR 10,000,000

 

Name of Partner (s)                                                               Percentage

 

·       Eurocat SA                                                                           30%

France

 

·       Al Bilad Est                                                                          20%

Riyadh

 

·       National Contracting Co                                                         20%

Kuwait

 

·       Masar Al Badr Co                                                                  15%

Riyadh

 

·       Fal Holding Co                                                                      15%

Riyadh

 

 

OPERATIONS

 

Activities: Subject offers services of off-site regeneration and recycling of spent catalysts for oil refining and                  petrochemical companies in the Kingdom of Saudi Arabia, the Gulf and other Middle East countries.

 

     Subject’s main activities are off-site regeneration of hydro-processing catalysts, molecular sieves and

                 absorbents and the recycling of a wide range of spent catalysts.

 

Clients:

 

·       Saudi Arabian Oil Company (Saudi Aramco)

·       Saudi Aramco Shell Refinery Company (SASREF)

·       Saudi Aramco Mobile Refinery Company (SAMREF)

·       Saudi Chevron Philip Company (SCP)

·       Saudi Arabian Basic Industries (SABIC)

·       Arabian Petrochemical Company (PetroKemya)

·       Al-Jubail Petrochemical Company (Kemya)

·       Saudi Iron & Steel Company (Hadeed)

·       Saudi Menthanol Company (AR-Razi)

·       Arabian Industrial Fibers Company (Ibn Rushd)

·       Eastern Petrochemical Company (Sharq)

·       National Methanol Company (Ibn Sina)

·       Saudi European Petrochemical Company (Ibn Zahr)

·       National Industrial Gases Company (Gas)

·       Jubail United Petrochemical Company (JUPC)

·       Saudi International Petrochemical Company (SIPCHEM)

·       National Petrochemical Industrialization Company (Tasnee)

·       Saudi Formaldehyde Company (SFCCL)

 

Subject has a workforce of approximately 200 employees.

 

 

FINANCIAL DATA

 

Companies registered in Saudi Arabia are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

 

 

BANKERS

 

·       National Commercial Bank

PO Box: 58

Jubail 51951

Tel: (966-3) 3612896

Fax: (966-3) 3611750

 

 

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.45.07

UK Pound

1

Rs.72.97

Euro

1

Rs.63.57

 

 

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.