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Report Date : |
03.04.2012 |
IDENTIFICATION DETAILS
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Name : |
SAUDI GROUP FOR CONSTRUCTION MATERIALS CO LTD |
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Registered Office : |
Al Khaleej Commercial Centre, 7th Floor Olaya 80 Street
Olaya District |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
09.08.1983 |
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Com. Reg. No.: |
1010047854, Riyadh |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import and distribution of building and construction materials. |
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No. of Employees : |
3,000 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 4,000,000 |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Saudi Arabia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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 :
SAUDI GROUP FOR CONSTRUCTION MATERIALS CO LTD
Country of Origin :
Saudi Arabia
Legal Form :
Limited Liability Partnership
Registration Date :
9th August 1983
Commercial Registration Number :
1010047854, Riyadh
Chamber Membership Number :
25005
Issued Capital :
SR 8,000,000
Paid up Capital :
SR 8,000,000
Total Workforce :
3,000
Activities :
Import and distribution of building and construction materials.
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Recommended Credit Limit :
US$ 4,000,000
Person Interviewed :
Magdi Salem, Accountant
SAUDI GROUP FOR CONSTRUCTION MATERIALS CO LTD
Building : Al Khaleej
Commercial Centre, 7th Floor
Street : Olaya 80
Street
Area : Olaya
District
PO Box : 58290
Town : Riyadh 11594
Country : Saudi Arabia
Telephone : (966-1) 4650165
/ 4650169
Facsimile : (966-1)
4651643 / 4627901
Email : saudigroup@saudigroup.net.sa
/ info@saudigroup.net.sa
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
· Dammam Sales
Office
Tel: (966-3)
8595477 / 8573505
Fax: (966-3)
8595605
· Jeddah Sales
Office
Tel: (966-2) 6214404 / 6204827
Fax: (966-2) 6204827
· Tabuk Sales
Office
Tel: (966-4) 4276820
· Prince Salman
Street Rented
warehouse premises
Old Industrial City
Riyadh
Tel: (966-1) 4482864
Fax: (966-1) 4470523
Subject operates a network of over 70 branches located throughout Saudi
Arabia.
Name Position
· Dr Ali Hassan
Dayekh Managing
Partner
· Mohamed Abdulaziz
Al Jarullah Partner
· Ahmad Abdulaziz Al
Jarullah Partner
· Ahmed Mustafa Finance
Manager
· Alaa Karra Commercial
Manager
· Alaa Saad Human
Resources Manager
·
I T Vijayakumar Administration
Manager
· Majed Al Assar Construction
Materials Manager
· Essam Mirghani Steel
Products Manager
· Mohamed Zaman Wood
Products Manager
· Alaa Karrar Sales
Manager
· Magdi Salem Accountant
Date of
Establishment : 9th
August 1983
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 1010047854, Riyadh
Chamber Member No. : 25005
Issued Capital : SR 8,000,000
Paid up Capital : SR 8,000,000
· Dr Ali Hassan
Dayekh
· Mohamed Abdulaziz
Al Jarullah
· Ahmad Abdulaziz Al
Jarullah
· Kuwait Cotton
Products for Trade & Industries
· Cisus Trading Est
· Jarallah Est
· Qatar Group
Company
· Al Seyassah Co
· Arab Times Co
· Dar Al Hadaf Co
· Al Muna Company
· Al Seyassah
Commercial Print
· Arab Times
Photographic & Silk Screen House
· Brothers Group
Kuwait
· Shuwaikh Trading
Group
· Nerah Jewellery
· Saudi Group
Company
· Halla Industrial
Co
· Hai Aladel Co
· Saudi Fertilizer
Factory
· Arabian Wood Work
Factory
· Saudi Wooden
Pressed Factory
· Usaimi &
Jarallah Co
· Iraq Group for
Development
· Al Riyadh
Laboratories & Electricity Company
· Advanced
Technology Company
· Saudi Mesh &
Steel Company
· Al Bander Hotel
& Resort
· Mezzaluna
· Zoe
· Savage Garden
· Mansoon
· Satam Complex
· Alnama Group
Activities: Engaged in the import and distribution of building and construction
materials such as wood, steel,
hardware, tools, construction chemicals, insulation materials,
fireproofing and safety materials.
Import Countries: Germany, Russia, Turkey, Romania, Finland, Spain,
Italy, China, Malaysia, Thailand, Brazil and Canada.
Operating Trend: Steady
Subject has a workforce of approximately 3,000 employees.
Financial highlights provided by local sources are given below:
Currency: Saudi Riyals (SR)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales SR
1,880,000,000,000 SR
2,150,000,000,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Magdi Salem,
Accountant
·
National Commercial Bank
Malaz Branch
PO Box: 42536
Riyadh 11551
Tel: (966-1)
4776450
Fax: (966-1) 4769502
·
Saudi British Bank
PO Box: 109
Jeddah 21411
Tel: (966-2)
6512121
·
Arab National Bank (ANB)
King Faisal Street
North Morabbaa
PO Box: 56921
Riyadh 11564
Tel: (966-1)
4029000
Fax: (966-1)
4027747
No complaints regarding subject’s payments have been reported.
Credit amount 372,000 444,640 448,748 1,215,480
Amount overdue 0 0 0 0
Payment terms 90
days 90 days 90 days 90 days
Payment Method Letters
of Credit Letters of Credit Letters of Credit Letters of Credit
Paying record No
Complaints No Complaints No Complaints No Complaints
Currency Canadian
Dollars Canadian Dollars Canadian Dollars Canadian Dollars
Established in 1983, subject is owned and managed
by Mr Dr Ali Hassan Dayekh, Mr Mohamed Abdulaziz Al Jarullah and Mr Ahmad
Abdulaziz Al Jarullah who are all well respected in the local business
community.
According to local sources, subject’s financial condition is
satisfactory whilst payments are made in a timely manner. The company’s
operating history is reportedly clear and as such we are of the opinion that it
is a sound trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.15 |
|
|
1 |
Rs.81.80 |
|
Euro |
1 |
Rs.68.34 |
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 |
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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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.