|
Report Date : |
28.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
LULU SAUDI HYPERMARKETS CO LTD |
|
|
|
|
Formerly Known As : |
LULU HYPERMARKETS |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
06.03.2007 |
|
|
|
|
Com. Reg. No.: |
2051034020, Al Khobar |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Operators of a hypermarket. |
|
|
|
|
No. of Employees : |
510 |
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$ 500,000 |
|
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 30, 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 |
Company Name : LULU SAUDI HYPERMARKETS CO LTD
Also Known As : LULU HYPERMARKETS
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Company
Registration Date : 6th March 2007
Commercial Registration Number : 2051034020, Al Khobar
Chamber Membership Number : 81370
Issued Capital : SR 27,000,000
Paid up Capital : SR 27,000,000
Total Workforce : 510
Activities : Operators of a hypermarket.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 500,000
LULU SAUDI HYPERMARKETS CO LTD
ALSO KNOWN AS: LULU HYPERMARKETS
Location : King Fahd Street, 30th Cross
PO Box : 248
Town : Al Khobar
31952
Country : Saudi Arabia
Telephone : (966-3) 8998556 / 8970008 / 8947575
Facsimile : (966-3) 8848336
Email : lulueastern@sa.lululmea.com
Subject operates from a large suite of offices and a hypermarket that
are rented and located in the Central Business Area of Al Khobar.
Branch Office (s)
Location Description
· Riyadh Office
premises
Name Position
· Abdul Basheer General
Manager
· T Sulaiman Commercial
Manager
· Shereef Sayed Mohamed Finance
Manager
Date of
Establishment : 6th
March 2007
Legal Form : Limited Liability
Company
Commercial Reg.
No. : 2051034020, Al Khobar (Riyadh Branch is
registered under CR No. 1010227701)
Chamber Member No. : 81370
Issued Capital : SR 27,000,000
Paid up Capital : SR 27,000,000
· EMKE Group
Abu Dhabi
United Arab
Emirates
· Prince Saudi Bin Abdullah Bin Abdulaziz
Subject is a member of the well known EMKE Group
which has operations dating back to 1966. It has diversified activities
covering the department store/supermarket and hypermarket business, as well
as the import and distribution of food
stuff and consumer staple goods, garment manufacturing and also information
technology training.
Based in the United Arab Emirates, the EMKE Group’s
activities span the globe with operational bases in India, Hong Kong, Thailand,
Indonesia, Kenya, Tanzania, Spain and other Middle East countries such as Oman,
Qatar and Kuwait.
The EMKE Group consists of the following concerns:
· EMKE General
Trading
Al Qusais
PO Box: 60188
Dubai
Tel: (971-4)
2670077
Fax: (971-4)
2670088
· Al Tayeb Meat Est
Mina Free Zone
PO Box:
4048
Abu Dhabi
Tel:
(971-2) 6732141
Fax:
(971-2) 6732144
· Al Tayeb Cold
Stores LLC
Mina Free Port
PO Box:
4048
Abu Dhabi
Tel:
(971-2) 6731831 / 6730393
Fax:
(971-2) 6731124
Email: altcs@emirates.net.ae
· Gulf Star Est
PO Box: 27608
Abu Dhabi
Tel: (971-2)
4481200
Fax: (971-2)
4481718
· Huda Shipping
International
Mina
Zayed
PO Box:
4048
Abu Dhabi
Tel:
(971-2) 6224226
Fax:
(971-2) 6224244
· Syscoms
Information Technology
Liwa
Street
PO Box:
4048
Abu Dhabi
Tel:
(971-2) 6224226
Fax:
(971-2) 6224244
· Asif Jewellery
Hamdan Street
PO Box: 4048
Abu Dhabi
Tel: (971-2) 6331366
Fax: (971-2) 6334466
· EMKE Stores
Mina
PO Box:
4048
Abu Dhabi
Tel:
(971-2) 6732131
Fax:
(971-2) 6732151
· Emke Commodities
(Kenya) Ltd
PO Box: 1556
Mombasa
Kenya
Tel: (254-11)
434463
Fax: (254-11)
432390
· EMKE Tanzania Ltd
PO Box: 40652
Dar Ed Salaam
Tanzania
· EMKE Garments
(Kenya) Ltd
PO Box: 1556
Mombasa
Kenya
Tel: (254-11)
432585
Fax: (254-11)
432390
· Fair Exports
(India) Pvt. Ltd
501
Madhava Bandra Kurla Complex
Bandra
(East)
Mumbai
400051
India
· E K Prima Exports
Thailand Ltd
64/16
Sukhumvil Soi-20
Bangkok
10110
Thailand
· E K Prima Exports
HongKong Ltd
Yu Cheong
Ind Centre, Room 5K
1 Wong
Chuk Yeung Street
Fotan
Hong Kong
· P.T.E.K. Prima
Ekspor Indonesia
J1,
Mangga Dua Raya
Block C
12
Jakarta
14430
Indonesia
Tel:
(62-21) 6128791/ 6128792
Fax:
(62-21) 6019438
· Y Tex Fashions
San Joaquin,
99-101
Bajos 1,
08922
Santa
Coloma Degramnet
Barcelona
Spain
Activities: Engaged as operators of a hypermarket, selling foodstuffs, readymade
garments, electronic products an
household appliances.
Import Countries: Europe and the Far East.
Subject has a workforce of approximately 510 employees.
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.
·
National Commercial Bank
PO Box: 1
Al Khobar 31952
Tel: (966-3)
8949669
Fax: (966-3)
8646474
No complaints regarding subject’s payments have been reported.
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 |
|
|
1 |
Rs.81.27 |
|
Euro |
1 |
Rs.67.98 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.