MIRA INFORM REPORT
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Report Date : |
25.01.2012 |
IDENTIFICATION DETAILS
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Name : |
AL HAMRANI FUCHS PETROLEUM SAUDI ARABIA LTD |
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Registered Office : |
Tahlia Street, Off Madinah
Road, Kilo 11, P O Box 7103 & 1229, Jeddah 21462 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
17.04.1990 |
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Com. Reg. No.: |
4030070768, Jeddah |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Operators of a lubricant and grease blending plant |
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No. of Employees
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300 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 5,000,000 |
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Status : |
Good |
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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
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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 |
SUMMARY
Company Name :
AL HAMRANI FUCHS PETROLEUM SAUDI ARABIA LTD
Country of Origin :
Saudi Arabia
Legal Form :
Limited Liability Company
Registration Date :
17th April 1990
Commercial Registration Number :
4030070768, Jeddah
Chamber Membership Number :
35420
Issued Capital :
SR 29,000,000
Paid up Capital :
SR 29,000,000
Total Workforce :
300
Activities :
Operators of a lubricant and grease blending plant
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit :
US$ 5,000,000
Person Interviewed :
Ishtiaq Malik, Financial Controller
COMPANY NAME
AL HAMRANI FUCHS
PETROLEUM SAUDI ARABIA LTD
company ADDRESS
Registered &
Physical Address
Location : Tahlia Street, Off Madinah Road,
Kilo 11
PO Box : 7103 &
1229
Town : Jeddah 21462
Country : Saudi Arabia
Telephone : (966-2) 6635666
Facsimile : (966-2)
6634094
Email : info@fuchs.com.sa / info@alhamranigroup.com
Premises
Subject operates from a large suite of offices that are rented and
located in the Suburban Business Area of Jeddah.
Branch Office (s)
Location Description
· Yanbu Blending
plant
Tel: (966-3) 3610115
Subject also has branch offices located in Abha, Riyadh, Dammam, Buraidah, Tabuk and Madina.
KEY PRINCIPALS
Name Position
· Abdullah Siraj Al Hamrani Chairman
· Zafar Talfur President
· Mohamed Jarjarah Vice
President
· Hanif Sattar Technical
Manager
· Dr Brahim Missaoui Finance
Manager
· Ishtiaq Malik Financial
Controller
· Suhail Shaid Khan Commercial
Manager
· Sharf Al Shareer Sales
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 22/09/1410 Hijri (corresponding to 17th April 1990)
Legal Form : Limited Liability
Company
Commercial Reg.
No. : 4030070768, Jeddah
Chamber Member No. : 35420
Issued Capital : SR 29,000,000
Paid up Capital : SR 29,000,000
Name of Shareholder
(s) Percentage
· Al Hamrani United Group 58%
PO Box: 1229
Jeddah 21431
Tel: (966-2)
6065555
Fax: (966-2)
6060265
· Fuchs Petrolub AG 32%
Friesenheimer Street 17
D-68169 Mannheim
Germany
Tel: (49)
6213802
Fax: (49)
6213802
· Al Hamrani Industrial Group 10%
Industrial Estate,
Phase 1
PO Box: 7172
Jeddah 21462
Tel: (966-2)
6360390
Fax: (966-2)
6375172
AFFILIATED COMPANIES
Subject is a member of the Al Hamrani Group of
Companies, which comprises the following concerns:
· Mohamed A. Al Hamrani & Co (Intertrade Ltd)
· Al Hamrani Trading & Import Company
· Al Jabr Trading Company
· Al Hamrani Fuchs Petroleum
· Al Hamrani Company for Investment in Trade
· Al Hamrani Universal Company
· Al Hamrani Company for Industry
· Al Hamrani Chemical Company
· Al Hamrani Real Estate Development
OPERATIONS
Activities: Subject operates a lubricant and grease blending plant located in Yanbu that offers over 200 different
products for hundreds of different
applications, such as lubricants for vehicles, construction machinery and
agricultural equipment.
Production capacity: 125,000 metric tonnes
per annum. This meets 30% of the domestic requirements of Saudi
Arabia, and allows the company to export to 26 countries in the region.
Import Countries: Europe, United States of America and Japan.
Brand Names: FUCHS
Operating Trend: Steady
Subject has a workforce of approximately 300 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 907,416,460 SR 934,147,690
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Ishtiaq Malik, Financial Controller
BANKERS
·
National Commercial Bank
Al Balad Branch
King Abdulaziz Street
PO Box: 5066
Jeddah 21422
Tel: (966-2)
6434777
Fax: (966-2)
6441686
·
Arab National Bank (ANB)
Madinah Road
PO Box: 9463
Jeddah 21413
Tel: (966-2) 6600272
Fax: (966-2) 6650202
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
Date of
transaction April
2005 April
2007
Credit amount 48,000 47,000
Amount overdue 0 0
Payment terms 180
days 180
days
Payment Method Letters
of Credit Letters
of Credit
Paying record No
Complaints No
Complaints
Currency Pounds Sterling Pounds Sterling
GENERAL COMMENTS
Al Hamrani Fuchs Petroleum Saudi Arabia Ltd
has been in business for a decade operating a lubricant and grease blending
plant located in Yanbu.
Subject is run in a professional manner and is a member of the well
known and financially strong Al Hamrani Group of
Companies, which has interests in a number of diversified ventures located
throughout the country.
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.49.97 |
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UK Pound |
1 |
Rs.77.74 |
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Euro |
1 |
Rs.65.09 |
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.