MIRA INFORM REPORT

 

 

Report Date :

01.06.2012

 

IDENTIFICATION DETAILS

 

Name :

NATIONAL WATER COMPANY (NWC) – MAKKAH AND TAIF CITIES   BUSIESS UNIT (NWC-MTCBU)

 

 

Registered Office :

Kingdom Tower King Fahad Road PO Box 676 Riyadh 11421

 

 

Country :

Saudi Arabia

 

 

Date of Incorporation :

04.09.2006

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Providers of water and wastewater services.

 

 

No. of Employees :

400

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

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 – 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                         : NATIONAL WATER COMPANY (NWC) – MAKKAH AND TAIF CITIES

                                                              BUSIESS UNIT (NWC-MTCBU)

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Joint Stock Company

Registration Date                                   : 4th September 2006

Issued Capital                                        : SR 22,000,000,000

Paid up Capital                                      : SR   6,848,880,000

Total Workforce                                     : 400

Activities                                               : Providers of water and wastewater services.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Person Interviewed                                 : Fahd Al Khuraiji, Senior Account Manager

 

 

 

 

 

COMPANY NAME

 

NATIONAL WATER COMPANY (NWC) – MAKKAH AND TAIF CITIES BUSIESS UNIT (NWC- MTCBU)

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : Kingdom Tower

Street               : King Fahad Road

 

PO Box             : 676

 

Town                 : Riyadh 11421

Country             : Saudi Arabia

 

Telephone         : (966-1) 4409444

Facsimile          : (966-1) 4409595

Email                : webmaster@nwc.com.sa

 

Premises

 

Subject operates from a large suite of offices that are rented and located in the Central Business Area of Riyadh.

 

Branch Office (s)

 

     Location                                                                                           Description

 

·       PO Box: 104156                                                                               Office premises

Riyadh 11626

Tel: (966-1) 4040316

Fax: (966-1) 4040316

 

·       Al Moroj District                                                                                Office premises

Riyadh

Tel: (966-1) 2899161

 

·       PO Box: 8504                                                                                   Office premises

Al Andalus District

Jeddah 21492

Tel: (966-2) 6032956

Fax: (966-2) 6039503

 

·       Al Jarwan Area                                                                                  Office premises 

Jeddah

Tel: (966-2) 5453535

Fax: (966-2) 5440055

 

·       NWC Building                                                                                   Office premises

Wadi Wadeh Area

     PO Box: 1667

Taif 21994

Tel: (966-2) 7330829

Fax: (966-2) 7331698

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Abdullah Bin Abdulrahman Al Hussain                                                Chairman

 

·       Loay Bin Ahmed Saad Bin Al Musallam                                              Managing Director

 

·       Dr Khalid Bin Hamza Ahmed Nahaas                                                  Director

 

·       Dr Saleh Bin Abdullah Bakhreeb                                                         Director

 

·       Usama Bin Abdulaziz Bin Saad Al Rabe                                             Director

 

·       Dr Suleiman Bin Mohammed Al Aly Al Turky                                       Director

 

·       Dr Khalid Bin Abdulaziz Al Ghoneim                                                   Director

 

·       Mohamed Abdullah Al Abdan                                                             Commercial Manager

 

·       Taha Mohamed Azhari                                                                       Finance Manager

 

·       Ayman Hammed Al Amri                                                                   Human Resources Manager

 

·       Ibrahim Shirazi                                                                                  Business Development Manager

 

·       Abdullah Hassanian                                                                           General Manager – Makkah & Taif Units

 

·       Tawfiq Refiqi                                                                         Purchasing Manager

 

·       Bander Mohamed                                                                              Financial Controller

 

·       Khalid Ahmed Al Shingiti                                                                   Support & Services Manager

 

·       Fahd Al Khuraiji                                                                                Senior Account Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 11/08/1427 Hijri (corresponding to 4th September 2006)

 

Legal Form                  : Joint Stock Company

 

Issued Capital              : SR 22,000,000,000

 

Paid up Capital            : SR   6,848,880,000

 

Name of Shareholder (s)                                            Percentage

 

·       Government of Saudi Arabia                                                   100%

 

 

OPERATIONS

 

Activities: Engaged in the provision of water and wastewater services.

 

NWC focuses on providing drinking water of high quality for all customers, providing all households with water and wastewater connections, the preservation of natural water resources, the protection of the environment, making maximum use of the Treated Sewage Effluent (TSE).

     The MTCBU oversees the basic services in Makkah and Taif. This includes:

  • Water operation; ground water extraction, desalination, and distribution.
  • Sanitation operation; wastewater transferring into processing units.
  • Leaks minimization through consistent observation.
  • Assets management and integrated plan development.-
  • Training plan improvement and implementation in RCBU
  • Customer services management
  • Administrational and financial affairs management within the framework
  • Consultation provision for NWC

 

Subject has a workforce of approximately 400 employees.

 

 

FINANCIAL DATA

 

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.

 

 

BANKERS

 

·       Arab National Bank (ANB)

King Faisal Street

PO Box: 56921

Riyadh 11564

Tel: (966-1) 4029000

Fax: (966-1) 4027747

 

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.42

UK Pound

1

Rs.87.37

Euro

1

Rs.69.95

 

 

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.