MIRA INFORM REPORT

 

 

Report Date :

03.07.20112

 

IDENTIFICATION DETAILS

 

Name :

AL ESAYI BEVERAGE CORPORATION

 

 

Registered Office :

Makkah Road, Kilo 11 PO Box 3878 Jeddah 21481

 

 

Country :

Saudi Arabia

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

13.04.1968

 

 

Com. Reg. No.:

4030005581, Jeddah

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Production and bottling of soft drinks and beverages

 

 

No. of Employees :

270

 

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

 

Status :

Satisfactory

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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 ESAYI BEVERAGE CORPORATION

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Sole Proprietorship

Registration Date                                   : 13th April 1968

Commercial Registration Number            : 4030005581, Jeddah

Chamber Membership Number                : 2625

Invested Capital                                     : SR 27,750,000

Total Workforce                                     : 270

Activities                                               : Production and bottling of soft drinks and beverages

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

Person Interviewed                                 : Khalid Ali, Purchasing Manager

 

 

 

COMPANY NAME

 

AL ESAYI BEVERAGE CORPORATION

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : Makkah Road, Kilo 11

 

PO Box             : 3878

 

Town                 : Jeddah 21481

Country             : Saudi Arabia

 

Telephone         : (966-2) 6200324 / 6210010 / 6210324

Facsimile          : (966-2) 6207254

Email                : esayibev@try.net.sa / abc@alesayibev.com.sa

 

Premises

 

Subject operates from a medium sized suite of offices, a warehouse and a bottling plant that are owned and located in the Industrial Area of Jeddah.

 

Branch Office (s)

 

     Location                                                                                           Description

 

·       Riyadh                                                                                             Distribution centre

Tel: (966-1) 4985913

 

·       Dammam                                                                                         Distribution centre

Tel: (966-3) 8473667

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Ali Abdullah Al Esayi                                                                         Proprietor & General Manager

 

·       Hesham Ali Abdullah Al Esayi                                                                        Assistant General Manager

 

·       Ahmed Mohamed Obaid El Haji                                                          Financial Controller

 

·       Khalid Ali                                                                                          Purchasing Manager

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 15/01/1388 Hijri (Corresponding to 13th April 1968)

 

History                         : Subject was originally established in 1968 as a joint venture between Mr Ali Abdullah Al

  Esayi and Canada Dry. However, after 15 years Canada Dry withdrew from the business

  and it became a Sole Proprietorship owned by Mr Ali Abdullah Al Esayi.

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.  : 4030005581, Jeddah

 

Chamber Member No. : 2625

 

Invested Capital           : SR 27,750,000

 

Mr Ali Abdullah Al Esayi is the sole proprietor of the business.

 

 

AFFILIATED COMPANIES

 

Subject is a member of the well known Esayi Group which has operations in Saudi Arabia, the Middle East, Europe and the United States of America. The group is owned by four Saudi brothers, namely Ali Abdullah Al Esayi, Omar Kassim Al Esayi, Saeed Omar Kassim Al Esayi and Mohamed Omar Kassim Al Esayi.

 

The Esayi Group includes the following companies:

 

·       Al Esayi Trading Corporation (ATC)

     Al Esayi Building

     Makkah Road, Kilo 11

     PO Box: 1342

     Jeddah 21431

     Tel: (966-2) 6202000 / 6206384 / 6878444

     Fax: (966-2) 6206469 / 6872201

 

·       Al Esayi United Co for Trading & Industry Ltd

Kaki Centre, 9th Floor

Madinah Road

PO Box: 3035

Jeddah

Tel: (966-2) 6650606 / 6694978

Fax: (966-2) 6653064

 

·       National Animal Production & Agricultural Development Co (NAPADCO)

PO Box: 6456

Riyadh 11442

Tel: (966-1) 4773660

Fax: (966-1) 4785015

 

·       Omar K. Al Esayi Office for Engineering & Architectural Contracting Co

Binzagr Building

Makkah Road

Kilo 5

PO Box: 2837

Jeddah 21461

Tel: (966-2) 6884121

CR No. 4030005787

 

·       Omar K. Al Esayi & Co Ltd

Bugshan Building

PO Box: 8361

Jeddah 21482

Tel: (966-2) 6440224

Fax: (966-2) 6445659

CR No. 4030022907

 

·       Al Tawfiq Co for Plastic & Chemical Industries Ltd

PO Box: 8680

Jeddah 21492

Tel: (966-2) 6445121 / 6445135

Fax: (966-2) 6436876

 

·       Arabian Chemical Investment Corporation

PO Box: 5958

Jeddah 21432

Tel: (966-2) 6534848

Fax: (966-2) 6530328

 

·       National Biscuit & Confectionery Factory

PO Box: 30972

Jeddah 21487

Tel: (966-2) 6360606

Fax: (966-2) 6376183

 

·       Al Esayi & Al Horaibi Co Ltd

Al Mirah Bahareth Building, 2nd Floor

Gold Street

PO Box: 436

Jeddah

Tel: (966-2) 6422723

Fax: (966-2) 6444632

 

·       Al Esayi Travel Agency

Madinah Road

PO Box: 9106

Jeddah 21413

Tel: (966-2) 6533716

Fax: (966-2) 6519844

CR No. 4030030430

 

·       Holker Seadly Saudi Arabia

     Jeddah

 

·       G.R.C Hollow Core Factor

     Jeddah

 

·       Omar K. Al Esayi Trading & General Contracting Est

     Jeddah

 

·       Esayi Saif Noman Douglas Ltd (ASAD)

Palestine Street

PO Box: 10180

Jeddah 21433

Tel: (966-2) 6712069

Fax: (966-2) 6720854

CR No. 4030015602

 

·       International Spare Parts Trading & Manufacturing Co Ltd

PO Box: 51482

Riyadh 11543

Tel: (966-1) 2318882

Fax: (966-1) 2315696

 

·       Omar Kassim Al Esayi Textile Company Ltd

PO Box: 3035

Jeddah 21471

Tel: (966-2) 2315696

 

·       ASA Co Ltd

PO Box: 324

Osaka

Japan

 

·       Arwa Industries, Trading & Contracting Co Ltd

PO Box: 883

Sana’a

Republic of Yemen

 

·       National Company for Sponge & Plastic Industries Ltd

PO Box: 5302

Taiz

Republic of Yemen

Tel: (967-4) 210730

 

·       Arab Clothing Company

Cairo

     Egypt

 

·       Omaco International Inc

230, Park Avenue

10169 New York

United States of America

 

·       Swicorp Finance SA

9, Place de la Fusterie

CH-1204 Geneva

Switzerland

 

 

OPERATIONS

 

Activities: Engaged in the production and bottling of soft drinks and beverages under the brand name of “Canada

                 Dry”.

 

Import Countries: Europe and the United States of America

 

Brand Names: FIFA & AL ESAYI COLA

 

Operating Trend: Steady

 

Subject has a workforce of approximately 270 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 83,750,000                           SR 90,000,000

 

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

 

The above figures were provided by Mr Khalid Ali, Purchasing Manager

 

 

BANKERS

 

·       Saudi British Bank

PO Box: 109

Jeddah 21411

Tel: (966-2) 6512121

 

·       National Commercial Bank

Al Balad Branch

King Abdulaziz Street

PO Box: 5066

Jeddah 21422

Tel: (966-2) 6434777

Fax: (966-2) 6441686

Acc No. 10114385000110

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Al Esayi Beverage Corporation has operations dating back to 1968 and is engaged in the production and bottling of soft drinks and beverages under the brand name of “Canada Dry”.

 

Subject is a member of the well known Esayi Group which has operations in Saudi Arabia, the Middle East, Europe and the United States of America.

 

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.55.83

UK Pound

1

Rs.87.41

Euro

1

Rs.70.43

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.