MIRA INFORM REPORT

 

 

Report Date :           

21.02.2012

 

IDENTIFICATION DETAILS

 

Name :

OBEIKAN PAPER INDUSTRIES CO LTD

 

 

Registered Office :

Al Kharj Road, Industrial City No. 3, P O Box 355010, Riyadh 11383

 

 

Country :

Saudi Arabia 

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

27.05.2002

 

 

Com. Reg. No.:

1010177372, Riyadh

 

 

Legal Form :

Manufacturers of paper and duplex boards

 

 

Line of Business :

Limited Liability Company

 

 

No. of Employees :

400

 

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$ 3,500,000

Status :

Good

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 30th, 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                                     : OBEIKAN PAPER INDUSTRIES CO LTD

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Limited Liability Company

Registration Date                                   : 27th May 2002

Commercial Registration Number                        : 1010177372, Riyadh

Chamber Membership Number                : 160740

Issued Capital                                        : SR 300,000,000

Paid up Capital                                      : SR 300,000,000

Total Workforce                                     : 400

Activities                                               : Manufacturers of paper and duplex boards.

Financial Condition                                 : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 3,500,000

Person Interviewed                                 : Mohamed Abdul Bari, Financial Controller

 

COMPANY NAME

 

OBEIKAN PAPER INDUSTRIES CO LTD

 

 

company ADDRESS

 

Registered & Physical Address

Street               : Al Kharj Road

Area                 : Industrial City No. 3

PO Box             : 355010

Town                 : Riyadh 11383

Country             : Saudi Arabia

Telephone         : (966-1) 2654351 / 4983392 / 2654316 / 2654328 / 2941289

Facsimile          : (966-1) 2654315 / 2941286 / 2941280

Mobile               : (966-54) 2025439

Email                : bari@obeikan.com.sa / elzibair.bashir@obeikan.com.sa

 

Premises

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

 

Branch Office (s)

 

Location                                                                                          Description

 

·       PO Box: 41010                                                                                 Office premises

Jeddah 21521

       Tel: (966-2) 6513505

       Fax: (966-2) 6513505

 

·       Dammam                                                                                         Office premises

Tel: (966-3) 8970618

       Fax: (966-3) 8970618

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Abdullah Suhail                                                                                 General Manager

 

·       Mohamed Mufleh                                                                               Assistant General Manager

 

·       Zubair Al Bashir                                                                                Finance Manager

 

·       Mohamed Abdul Bari                                                                         Financial Controller

LEGAL FORM & OWNERS

 

Date of Establishment  : 16/03/1423 Hijri (corresponding to 27th May 2002)

 

Legal Form                  : Limited Liability Company

 

Commercial Reg. No.  : 1010177372, Riyadh

 

Chamber Member No. : 160740

 

Issued Capital              : SR 300,000,000

 

Paid up Capital            : SR 300,000,000

 

Name of Shareholder (s)                                                      Percentage

 

·       Obeikan Investment Group                                                     100%

 

 

AFFILIATED COMPANIES

 

·       Al Obeikan Bookshop

Ibn Thnayyan Building

King Fahed Street

Olaya

PO Box: 6672

Riyadh 11452

Tel: (966-1) 4654424

Fax: (966-1) 4982300

 

·       Obeikan Saint Gobain Co Ltd

Kharj Road

3rd Industrial Area

PO Box: 1087

Riyadh 11431

Tel: (966-1) 2651144

Fax: (966-1) 2650272

 

·       Obeikan Industrial Investment Group

Ibn Thnayyan Building

King Fahed Street

Olaya

PO Box: 6672

Riyadh 11452

Tel: (966-1) 4654424

Fax: (966-1) 4982300

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of paper and duplex boards.

 

Import Countries: Europe and GCC countries.

 

Operating Trend: Steady

 

Subject has a workforce of approximately 400 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 414,000,000             SR 402,000,000

 

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

 

The above figures were provided by Mr Mohamed Abdul Bari, Financial Controller

 

 

BANKERS

 

·       Arab National Bank (ANB)

King Faisal Street

North Morabbaa

PO Box: 56921

Riyadh 11564

Tel: (966-1) 4029000

Fax: (966-1) 4027747

 

·       Riyad Bank

King Faisal Street

Al Batha

PO Box: 229

Riyadh 11411

Tel: (966-1) 4113333

     Acc No. 2220051149901

 

·       National Commercial Bank

Batha Branch

PO Box: 34

Riyadh 11411

Tel: (966-1) 4010076 / 4025084

Fax: (966-1) 4034625

 

 

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.49.21

UK Pound

1

Rs.77.75

Euro

1

Rs.64.58

 

 

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.