MIRA INFORM REPORT
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Report Date : |
22.02.2012 |
IDENTIFICATION DETAILS
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Name : |
NATIONAL
INDUSTRIALIZATION PETROCHEMICAL MARKETING
COMPANY |
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Registered Office : |
New Akaria No (D), Tower 1, 2nd Floor, Al Sitteen Street, Malaz Area, P O Box 26707, Riyadh 11496 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
21.11.2001 |
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Com. Reg. No.: |
1010171953, Riyadh |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of petrochemicals, polypropylene and polyethylene |
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No. of Employees
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75 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 200,000 |
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Status : |
Satisfactory |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 : NATIONAL INDUSTRIALIZATION PETROCHEMICAL MARKETING
COMPANY
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 21st November 2001
Commercial Registration Number : 1010171953, Riyadh
Chamber Membership Number : 116560
Issued Capital : SR 5,000,000
Paid up Capital : SR 5,000,000
Total Workforce : 75
Activities : Distributors of petrochemicals, polypropylene and polyethylene.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 200,000
NATIONAL INDUSTRIALIZATION PETROCHEMICAL
MARKETING COMPANY
Registered &
Physical Address
Building : New Akaria No (D), Tower 1, 2nd
Floor
Street : Al Sitteen Street
Area : Malaz Area
PO Box : 26707
Town : Riyadh 11496
Country : Saudi Arabia
Telephone : (966-1) 4734559
Facsimile : (966-1) 4734580
Email : a.bequitro@tasnee.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Riyadh.
Name Position
·
Saleh
Bin Fahd Al Nuzha Managing
Director
·
Moayad
Al Qurtas Chief
Executive Officer
·
Sultan
Al Zahrani Sales
Manager
·
Walid
Abdullah Al Hamd Marketing
Manager
·
Awad
Taha Financial
Manager
Date of Establishment : 06/09/1422
Hijri (corresponding to 21st November 2001)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 1010171953,
Riyadh
Chamber Member No. : 116560
Issued Capital : SR 5,000,000
Paid up Capital : SR 5,000,000
Name of Partner (s) Percentage
·
National
Industrial Company (NIC) 100%
PO Box: 26707
Riyadh 11496
Tel: (966-1) 4767166
Fax: (966-1) 4770898
Activities: Engaged in the import and distribution of
petrochemicals, various grades of polypropylene and high and low density
polyethylene.
Import
Countries: Europe and the
Far East
Subject has a
workforce of 75 employees.
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.
·
National
Commercial Bank
Airport Road
PO Box: 2800
Tel: (966-1) 4772281
Fax: (966-1) 4730322
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.49.08 |
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UK Pound |
1 |
Rs.77.79 |
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Euro |
1 |
Rs.65.17 |
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.