MIRA INFORM REPORT
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Report Date : |
25.01.2012 |
IDENTIFICATION DETAILS
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Name : |
ARABIAN CHEMICAL CO LATEX LTD |
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Registered Office : |
E A Juffali
Building, 4th Floor, Madinah Road, Al Mussadiyah District, P O Box
5728, Jeddah 21432 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
18.10.1993 |
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Com. Reg. No.: |
4030099051, Jeddah |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture of latex materials |
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No. of Employees
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40 |
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$ 175,000 |
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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
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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 : ARABIAN CHEMICAL CO LATEX LTD
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Company
Registration Date : 18th October 1993
Commercial Registration Number : 4030099051, Jeddah
Chamber Membership Number : 45796
Issued Capital : SR 10,000,000
Paid up Capital : SR 10,000,000
Total Workforce : 40
Activities : Manufacture of latex materials.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 175,000
COMPANY NAME
ARABIAN CHEMICAL CO LATEX LTD
company ADDRESS
Registered &
Physical Address
Building : E A Juffali Building, 4th
Floor
Street : Madinah Road
Area : Al Mussadiyah District
PO Box : 5728
Town : Jeddah 21432
Country : Saudi Arabia
Telephone : (966-2) 6605696 / 6633900
Facsimile : (966-2) 6609028
Email : t.bawazir@jab.com.sa
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Jeddah.
Branch Office (s)
Location Description
·
Street
No. 263 Factory
premises
PO Box: 11571
Jubail 31961
Tel: (966-3) 3588088 / 3587176
Fax: (966-3) 3588248
KEY PRINCIPALS
Name Position
·
Dr
Suhail Al Farooqi General
Manager
·
Yasser
Al Amin Factory
Manager
·
Bashar
Abu Hejli Commercial
Manager
·
Zahir
Ali Financial
Manager
·
Turki
Bawazir Human
Resources Manager
LEGAL FORM & OWNERS
Date of Establishment : 03/05/1414
Hijri (corresponding to 18th October 1993)
Legal Form :
Limited Liability Company
Commercial Reg. No. : 4030099051,
Jeddah
Chamber Member No. : 45796
Issued Capital : SR 10,000,000
Paid up Capital : SR 10,000,000
Name of Partner (s)
·
E A
Juffali Bros
Saudi Arabia
·
Dow
Chemicals
United States of America
AFFILIATED COMPANIES
·
Arabian
Chemical Company (Polystyrene) Ltd
PO Box: 30135
Jeddah 21477
Tel: (966-2) 6372485
Fax: (966-2) 6373286
OPERATIONS
Activities: Engaged in the manufacture of latex
materials.
Production
Capacity: 42,000 tonnes per
year.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 40 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 17,100,000 SR 17,750,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
National
Commercial Bank
PO Box: 3555
Jeddah 21481
Tel: (966-2) 6446644
Fax: (966-2) 6446644
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
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Currency |
Unit
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Indian Rupees |
|
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.