MIRA INFORM REPORT

 

 

Report Date :           

17.01.2012

 

IDENTIFICATION DETAILS

 

Name :

AL KABLI TRADING COMPANY LTD (WAFCO)

 

 

Registered Office :

Al Kabli Building, Al Baladiya Street, Al Aziziyah District, P O Box            3311, Jeddah 21471

 

 

Country :

Saudi Arabia 

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

27.06.1990

 

 

Com. Reg. No.:

4030071733, Jeddah

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Wholesalers and retailers of general foodstuff, specialising in confectionery items

 

 

No. of Employees :

180

 

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$ 850,000

 

 

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                                     : AL KABLI TRADING COMPANY LTD (WAFCO)

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Limited Liability Partnership

Start Date                                             : 1966

Registration Date                                   : 27th June 1990

Commercial Registration Number            : 4030071733, Jeddah

Membership Number                              : 33708

Issued Capital                                        : SR 10,000,000

Paid up Capital                                      : SR 10,000,000

Total Workforce                                     : 180

Activities                                               : Wholesalers and retailers of general foodstuff, specialising in

confectionery items

Financial Condition                                 : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 850,000

Person Interviewed                                 : Wail Wasif Ahmed Fadel Al Kabli, Partner

 

COMPANY NAME

 

AL KABLI TRADING COMPANY LTD (WAFCO)

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Al Kabli Building

Street               : Al Baladiya Street

Area                 : Al Aziziyah District

PO Box             : 3311

Town                 : Jeddah 21471

Country             : Saudi Arabia

Telephone         : (966-2) 6686000 / 6513065 / 6513570 / 6203876

Facsimile          : (966-2) 6613036 / 6516903

Email                : info@kabli.com

 

Premises

Subject operates from a large suite of offices, a showroom and a warehouse that are owned and located in the Central Business Area of Jeddah.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       Makkah                                                                                            Rented retail outlet

Tel: (966-2) 5317853

Fax: (966-2) 5318401

 

·       Madinah                                                                                           Rented retail outlet

Tel: (966-4) 8402481

Fax: (966-4) 8402075

 

·       Riyadh                                                                                             Rented retail outlet

Tel: (966-1) 4724591

Fax: (966-1) 4742971

 

·       Taif                                                                                                  Rented retail outlet

Tel: (966-2) 7320389

Fax: (966-2) 7381164

 

·       Khamis Mushayt                                                                               Rented retail outlet

Tel: (966-7) 2330669

Fax: (966-7) 2330054

 

·       Jizan                                                                                                Rented retail outlet

Tel: (966-7) 3271242

Fax: (966-7) 3271242

 

·       Dammam                                                                                         Rented retail outlet

Tel: (966-3) 8561018

Fax: (966-3) 8561018

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·         Dr Wasif Ahmed Fadel Al Kabli                                                         Managing Partner

 

·         Wail Wasif Ahmed Fadel Al Kabli                                                      Partner

 

·         Wessam Wasif Ahmed Fadel Al Kabli                                               Partner

 

·         Wala Wasif Ahmed Fadel Al Kabli                                                     Partner

 

·         Wafa Taher Arab                                                                              Partner

 

·         Rayan Arab                                                                                     Commercial Manager

 

·         Khaled Abdul Daem                                                                         Sales Manager

 

·         Mahmoud Fouzi                                                                               Financial Controller

 

·         Ashraf Abdul Salam                                                                         Purchasing Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : Subject’s activities date back to 1966, however it was registered on 04/12/1410 Hijri

  (corresponding to 27th June 1990)

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 4030071733, Jeddah

 

Membership No.          : 33708

 

Issued Capital              : SR 10,000,000

 

Paid up Capital            : SR 10,000,000

 

Name of Partner (s)

·         Dr Wasif Ahmed Fadel Al Kabli

·         Wail Wasif Ahmed Fadel Al Kabli

·         Wessam Wasif Ahmed Fadel Al Kabli

·         Wala Wasif Ahmed Fadel Al Kabli

·         Wafa Taher Arab

 

 

AFFILIATED COMPANIES

 

·       Al Kabli Trading Est

     Jeddah

 

 

OPERATIONS

 

Activities: Engaged in the wholesale and retail of general foodstuff, specialising in confectionery items, such as

     sweets, chocolates and biscuits.

 

Import Countries: Switzerland, France and the United Kingdom

 

Brand Names: LOACKER, KAMBLY, PEZ, MERBA, SIMSEK, SAMJIN, COCOALAND, VURAL, BAKERS PRIDE, FEDERAL FOODS, CANDYLAND, MASTER, HLEKS, MINOO, SUWEI, DOGAN, DREEM and

LOOKA

 

Operating Trend: Steady

 

Subject has a workforce of approximately 180 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Saudi Riyals (SR)

 

                                                Year Ending 31/12/09:                Year Ending 31/12/10:

 

Total Sales                                SR 83,200,000                           SR 86,000,000

 

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

 

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

 

 

BANKERS

 

·       National Commercial Bank

King Abdul Aziz Street

PO Box: 6555

Jeddah

Tel: (966-2) 6446644

 

·       Al Rajhi Banking & Investment Corporation

King Abdulaziz Street

PO Box: 605

Jeddah 21421

Tel: (966-2) 6447790 / 6447676

Fax: (966-2) 6434022

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Established in 1966, Al Kabli Trading Company Ltd (Wafco), is engaged in the wholesale and retail of general foodstuff, specialising in confectionery items, such as sweets, chocolates and biscuits. It enjoys a good reputation for the quality of its products and the Kabli family are experienced and trusted Saudi businessmen.

 

According to local sources subject’s financial position is satisfactory, payments are met in a timely manner and the subject is considered to be a fair trade risk.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.65

UK Pound

1

Rs.79.09

Euro

1

Rs.65.32

 

 

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.