MIRA INFORM REPORT

 

 

Report Date :           

20.04.2012

 

IDENTIFICATION DETAILS

 

Name :

SAUDI FACTORY FOR ALUMINIUM FOIL CONTAINERS

 

 

Registered Office :

Al Fadhul Street, Al Hamra District, P O Box 6493, Jeddah 21442

 

 

Country :

Saudi Arabia 

 

 

Date of Incorporation :

27.10.1985

 

 

Com. Reg. No.:

4030051582, Jeddah

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Manufacture of aluminium foil containers, baking trays and packaging  materials

 

 

No. of Employees :

120

 

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$ 300,000

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 – March 31st, 2012

 

Country Name

Previous Rating

                   (31.12.2011)                  

Current Rating

(31.03.2012)

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                         : SAUDI FACTORY FOR ALUMINIUM FOIL CONTAINERS

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Sole Proprietorship

Registration Date                                   : 27th October 1985

Commercial Registration Number            : 4030051582, Jeddah

Chamber Membership Number                : 28096

Invested Capital                         : SR 1,000,000

Total Workforce                         : 120

Activities                                               : Manufacture of aluminium foil containers, baking trays and packaging

                                                              materials.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

Recommended Credit Limit                     : US$ 300,000

 

 

 

COMPANY NAME

 

SAUDI FACTORY FOR ALUMINIUM FOIL CONTAINERS

 

 

company ADDRESS

 

Registered & Physical Address

Street               : Al Fadhul Street

Area                 : Al Hamra District

PO Box : 6493

Town                 : Jeddah 21442

Country : Saudi Arabia

Telephone         : (966-2) 6658989 / 6604242 / 6652539

Facsimile          : (966-2) 6605512

Mobile               : (966-50) 6612256

 

Premises

Subject operates from a large suite of offices and a factory that are owned and located in the Suburban Business Area of Jeddah.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

·       Abdulaziz Abdullah Al Sharbtly                                                           Proprietor & General Manager

·       Akram Al Sohar                                                                                Assistant General Manager

·       Kothar Othman                                                                                 Production Manager

·       Ashraf Amin                                                                                      Finance Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 13/02/1406 Hijri (corresponding to 27th October 1985)

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.  : 4030051582, Jeddah

 

Chamber Member No. : 28096

 

Invested Capital           : SR 1,000,000

 

Mr Abdulaziz Abdullah Al Sharbtly is the sole proprietor of the business.

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of aluminium foil containers, PVC Cling film rolls, wet wipes, flexible drinking straws, baking trays and packaging materials.

 

Import Countries: Italy, Germany and Asia

 

Subject has a workforce of approximately 120 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

Al Balad Branch

King Abdulaziz Street

PO Box: 5066

Jeddah 21422

Tel: (966-2) 6434777

Fax: (966-2) 6441686

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Please note that we were unable to contact the subject directly during our investigation.

 

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 business is considered to be a fair trade risk.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.89

UK Pound

1

Rs.83.18

Euro

1

Rs.68.06

 

 

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.