MIRA INFORM REPORT

 

Report Date :

10.02.2012

 

IDENTIFICATION DETAILS

 

Name :

AL SAMA INK PRINTING AND SUNDRIES MANUFACTURING CO LTD

 

 

Formerly Known As :

AL SAMA INK FACTORY

 

 

Registered Office :

Al Kharj Road 2nd Industrial Estate PO Box 5164 Riyadh 11422

 

 

Country :

Saudi Arabia

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

07.11.1991

 

 

Com. Reg. No.:

1010088516, Riyadh

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Manufacturers of printing and drawing inks.

 

 

No. of Employees :

85

 

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$ 250,000

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 – 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

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : AL SAMA INK PRINTING AND SUNDRIES MANUFACTURING CO LTD

Also Known As                                      : AL SAMA INK FACTORY

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Limited Liability Partnership

Registration Date                                   : 7th November 1991

Commercial Registration Number            : 1010088516, Riyadh

Chamber Membership Number                : 13357

Issued Capital                                        : SR 42,300,000

Paid up Capital                                      : SR 42,300,000

Total Workforce                                     : 85

Activities                                               : Manufacturers of printing and drawing inks.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 250,000

 

COMPANY NAME

 

AL SAMA INK PRINTING AND SUNDRIES MANUFACTURING CO LTD

 

ALSO KNOWN AS: AL SAMA INK FACTORY

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : Al Kharj Road

Area                 : 2nd Industrial Estate

 

PO Box             : 5164

 

Town                 : Riyadh 11422

Country             : Saudi Arabia

 

Telephone         : (966-1) 4983067 / 4980415 / 4983063

Facsimile          : (966-1) 4983695

Email                : samaink@hotmail.com / info@alsamink.com

 

Premises

 

Subject operates from a medium sized suite of offices and a factory that are owned and located in the Industrial Area of Riyadh.

 

Branch Office (s)

 

     Location                                                                                           Description

 

·       Jeddah                                                                                             Office premises

Tel: (966-2) 6750101

Fax: (966-2) 6745090

 

·       Dammam                                                                                         Office premises

Tel: (966-3) 8275600

Fax: (966-3) 8267358

 

·       Omar Ibn Al Khattab Street                                                                Office premises

Riyadh

Tel: (966-1) 4794162

Fax: (966-1) 4794137

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Khalid Ali Al Sama                                                                            Managing Partner

 

·       Abdullah Khalid Ali Al Sama                                                               Partner

 

·       Faris Khalid Ali Al Sama                                                                    Partner

 

·       Ali Khalid Ali Al Sama                                                                       Partner

 

·       Farooq Al Raed                                                                                 Commercial Manager

 

·       L Litu                                                                                               Production Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 30/04/1412 Hijri (corresponding to 7th November 1991)

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 1010088516, Riyadh

 

Chamber Member No. : 13357

 

Issued Capital              : SR 42,300,000

 

Paid up Capital            : SR 42,300,000

 

Name of Partner (s)

 

·       Khalid Ali Al Sama

 

·       Abdullah Khalid Ali Al Sama

 

·       Faris Khalid Ali Al Sama

 

·       Ali Khalid Ali Al Sama

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of black and coloured printing and drawing inks.

 

                 Subject was ISO 9002 certified in March 1998.

 

Import Countries: Europe and the United States of America.

 

Operating Trend: Steady

 

Subject has a workforce of 85 employees.

 

 

FINANCIAL DATA

 

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 38,750,000                           SR 39,350,000

 

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

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       National Commercial Bank

Malaz Branch

PO Box: 42536

Riyadh 11551

Tel: (966-1) 4776450

     Fax: (966-1) 4769502

 

·       Arab National Bank (ANB)

King Faisal Street

North Morabbaa

PO Box: 56921

Riyadh 11564

Tel: (966-1) 4029000

Fax: (966-1) 4027747

 

 

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.49.29

UK Pound

1

Rs.78.10

Euro

1

Rs.65.59

 

 

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.