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MIRA INFORM REPORT

Report Date :

16.02.2012

IDENTIFICATION DETAILS

Name :	ROWAD GLOBAL PACKAGING CO LTD
Registered Office :	Plot No. 10, 2^nd Industrial City, 29452, Riyadh 11457
Country :	Saudi Arabia
Date of Incorporation :	29.03.2009
Com. Reg. No.:	1010255388, Riyadh
Legal Form :	Limited Liability Company
Line of Business :	Manufacturers of packaging materials and films for printing, lamination and coating.
No. of Employees :	200 Employees

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 – 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 : ROWAD GLOBAL PACKAGING CO LTD

Country of Origin : Saudi Arabia

Legal Form : Limited Liability Company

Registration Date : 29^th March 2009

Commercial Registration Number : 1010255388, Riyadh

Chamber Membership Number : 193600

Issued Capital : SR 65,000,000

Paid up Capital : SR 65,000,000

Total Workforce : 200

Activities : Manufacturers of packaging materials and films for printing, lamination and coating.

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

Recommended Credit Limit : US$ 300,000

Person Interviewed : Saud Al Lifa, Administration Manager

COMPANY NAME

ROWAD GLOBAL PACKAGING CO LTD

ADDRESS

Registered & Physical Address

Location : Plot No. 10, 2^nd Industrial City

PO Box : 29452

Town : Riyadh 11457

Country : Saudi Arabia

Telephone : (966-1) 2651966

Facsimile : (966-1) 2651973

Email : info@rowadplastic.com

Premises

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

Branch Office (s)

Location Description

· 1^st Industrial City Factory premises

PO Box: 14164

Dammam 31424

Tel: (966-3) 8121360

Fax: (966-3) 8121759

KEY PRINCIPALS

Name Position

· Asif Jalil Factory Manager

· Mohamed Al Hadi Finance Manager

· Kamran Khan Production Manager

· Ashraf Shah Sales Manager

· Saud Al Lifa Administration Manager

LEGAL FORM & OWNERS

Date of Establishment : 29^th March 2009, however full production began in February 2011.

Legal Form : Limited Liability Company

Commercial Reg. No. : 1010255388, Riyadh

Chamber Member No. : 193600

Issued Capital : SR 65,000,000

Paid up Capital : SR 65,000,000

Name of Shareholders (s) Percentage

· Al Rowad National Plastic Co Ltd 50.00%

Saudi Arabia

· National Industrialization Petrochemical Marketing 37.50%

Saudi Arabia

· DMT Technology Inc 12.50%

Austria

AFFILIATED COMPANIES

· Rowad International Synthetic

Riyadh

OPERATIONS

Activities: Engaged in the manufacture of packaging materials and films for printing, lamination and coating.

Import Countries: Europe and GCC countries.

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

Malaz Branch

PO Box: 42536

Riyadh 11551

Tel: (966-1) 4776450

Fax: (966-1) 4769502

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.49.25
UK Pound	1	Rs.77.45
Euro	1	Rs.64.89

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.