MIRA INFORM
REPORT
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Report Date : |
12.04.2012 |
IDENTIFICATION DETAILS
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Name : |
TRIOMADA PLASTIC INTERNATIONAL CO |
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Registered Office : |
Road No. 217, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
21.07.2009 |
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Com. Reg. No.: |
2055009274,
Jubail |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturers of plastic and stretch films and wraps |
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No. of Employees
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47 |
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$ 2,500,000 |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Saudi Arabia
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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 |
Company Name : TRIOMADA PLASTIC INTERNATIONAL CO
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Company
Start Date : 2006
Registration Date : 21st July 2009
Commercial Registration Number : 2055009274, Jubail
Issued Capital : SR 34,000,000
Paid up Capital : SR 34,000,000
Total Workforce : 47
Activities : Manufacturers of plastic and stretch films and wraps
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 2,500,000
Person Interviewed : Mahmoud Rasheed, Finance Manager
TRIOMADA PLASTIC INTERNATIONAL CO
Registered &
Physical Address
Location : Road No. 217
PO Box : 11797
Town : Jubail 31961
Country : Saudi Arabia
Telephone : (966-3) 3415900
Facsimile : (966-3) 4316676
Mobile : (966-56) 5784288
Email : abdulaziz.bazuhair@triomadagroup.com
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Jubail.
Name Position
·
Abdulaziz Ba Zuhair Administration
Manager
·
Kamana Srinivas Production
Manager
·
Victor Fernandes Commercial
Manager
·
Rashid Mahmood Finance
Manager
·
Luis
Ramilo Sales
Manager
·
Marlon
De La Cruz IT
Manager
Date of Establishment : 2006, however
subject was registered on 21st July 2009
Legal Form :
Limited Liability Company
Commercial Reg. No. : 2055009274,
Jubail
Issued Capital : SR 34,000,000
Paid up Capital : SR 34,000,000
Name of Shareholder
(s) Percentage
·
Al Rajhi Holding Group 50%
Saudi Arabia
·
Trio Plastic Co 50%
Sweden
Activities: Engaged in the manufacture of plastic and
stretch films and wraps.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 47 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
216,800,000 SR 221,000,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Mahmoud Rasheed, Finance Manager
·
National
Commercial Bank
PO Box: 58
Jubail 51951
Tel: (966-3) 3612896
Fax: (966-3) 3611750
No complaints
regarding subject’s payments have been reported.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.55 |
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UK Pound |
1 |
Rs.81.95 |
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Euro |
1 |
Rs.67.57 |
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 |
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NB |
New Business |
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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.