MIRA INFORM REPORT

 

 

Report Date :           

28.03.2012

 

IDENTIFICATION DETAILS

 

Name :

SCHINDLER OLAYAN ELEVATOR CO LTD

 

 

Registered Office :

Al Mabani Building, 2nd Floor, Hail Street, Rowais, P O Box 1150, Jeddah 21431

 

 

Country :

Saudi Arabia  

 

 

Date of Incorporation :

15.06.1958

 

 

Com. Reg. No.:

4030001307, Jeddah

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacture, installation and maintenance of elevators and escalators

 

 

No. of Employees :

650

 

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$ 150,000

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 – 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                                     : SCHINDLER OLAYAN ELEVATOR CO LTD

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Limited Liability Company

Registration Date                                   : 15th June 1958

Commercial Registration Number            : 4030001307, Jeddah

Chamber Membership Number                : 8129

Issued Capital                                        : SR 30,000,000

Paid up Capital                                      : SR 30,000,000

Total Workforce                                     : 650

Activities                                               : Manufacture, installation and maintenance of elevators and escalators.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 150,000

 

COMPANY NAME

 

SCHINDLER OLAYAN ELEVATOR CO LTD

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Al Mabani Building, 2nd Floor

Street               : Hail Street

Area                 : Rowais

PO Box             : 1150

Town                 : Jeddah 21431

Country             : Saudi Arabia

Telephone         : (966-2) 6515244

Facsimile          : (966-2) 6512948

Email                : secjeddah@saschinder.com

 

Premises

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

 

Branch Office (s)

Subject has branch offices located in Riyadh, Al Khobar, Taif, Baha, Hail, Madinah and Khamis Mushait.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Peter Schwaer                                                                                  General Manager

 

·       Hubberts Muller                                                                                 Finance Manager

 

·       Ayman Shawqi                                                                                  Financial Controller

 

·       Hafner Lord                                                                                       Technical Manager

 

·       R Ravendera                                                                         Commercial Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 28/11/1377 Hijri (corresponding to 15th June 1958)

 

Legal Form                  : Limited Liability Company

 

Commercial Reg. No.  : 4030001307, Jeddah

 

Chamber Member No. : 8129

 

Issued Capital              : SR 30,000,000

 

Paid up Capital            : SR 30,000,000

 

Name of Shareholder (s)                                                                  Percentage

 

·       Schindler Holding AG                                                                        90%

Seestrasse 55

6052 Hergiswil

Switzerland

Tel : (41-41) 6328550

Fax : (41-41) 4453134

 

·       Olayan Financing Company (OFC)                                                      10%

 

 

OPERATIONS

 

Activities: Engaged in the manufacture, installation and maintenance of elevators and escalators.

 

Import Countries: Switzerland

 

Subject has a workforce of approximately 650 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

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.

 

 

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.50.91

UK Pound

1

Rs.81.27

Euro

1

Rs.67.99

 

 

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.