MIRA INFORM REPORT

 

 

Report Date :

23.05.2012

 

IDENTIFICATION DETAILS

 

Name :

PACKAGING PRODUCTS FACTORY

 

 

Registered Office :

Al Kharj Road, 2nd Industrial City, P O Box 51590, Riyadh 11553,  351, Riyadh 11383, Riyadh

 

 

Country :

Saudi Arabia 

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

29.11.1994

 

 

Com. Reg. No.:

1010131000, Riyadh

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Manufacturer of plastic packaging, paper and cardboard products

 

 

No. of Employees :

235

 

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                                     : PACKAGING PRODUCTS FACTORY

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Limited Liability Partnership

Registration Date                                   : 29th November 1994

Commercial Registration Number            : 1010131000, Riyadh

Trade Licence Number                            : 438/S

Chamber Membership Number                : 68555

Issued Capital                                        : SR 100,000,000

Paid up Capital                                      : SR 100,000,000

Total Workforce                                     : 235

Activities                                               : Manufacture of plastic packaging, paper and cardboard products.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

 

 

 

COMPANY NAME

 

PACKAGING PRODUCTS FACTORY

 

 

company ADDRESS

 

Registered & Physical Address

Street               : Al Kharj Road

Area                 : 2nd Industrial City

PO Box             : 51590, Riyadh 11553

  351, Riyadh 11383

Town                 : Riyadh

Country             : Saudi Arabia

Telephone         : (966-1) 2650260 / 2650341 / 4106797 / 2650025 / 2650290

Facsimile          : (966-1) 2650275

Email                : cunucci@shabakah.com / info@ppcksa.com

 

Premises

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

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Sulaiman Bin Abdulrahman Al Saleh                                                   Managing Partner

 

·       Rashid Saad Al Rashid                                                                      Partner

 

·       Abdullah Mohamed Al Rumaizan                                                        Partner

 

·       Saeed Abdullah Al Tuwjairi                                                                 Partner

 

·       Faisal Abdulrahman Al Sudiair                                                            Partner

 

·       Bushari Faisal Al Muamar                                                                  Partner

 

·       Abdullah Mohamed Al Hokail                                                              Partner

 

·       Saad Ibrahim Al Mojil                                                                         Partner

 

·       Mohamed Merghani                                                                           Production Manager

 

·       Esmat Assai                                                                                     Marketing Manager

 

·       Ahmed Al Nasser                                                                              Financial Manager

 

·       Fahd Al Homaidan                                                                             Administration Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 25/06/1415 Hijri (corresponding to 29th November 1994)

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 1010131000, Riyadh

 

Trade Licence No.       : 438/S

 

Chamber Member No. : 68555

 

Issued Capital              : SR 100,000,000

 

Paid up Capital            : SR 100,000,000

 

Name of Partner (s)

 

·       Sulaiman Bin Abdulrahman Al Saleh

 

·       Rashid Saad Al Rashid

 

·       Abdullah Mohamed Al Rumaizan

 

·       Saeed Abdullah Al Tuwjairi

 

·       Faisal Abdulrahman Al Sudiair

 

·       Bushari Faisal Al Muamar

 

·       Abdullah Mohamed Al Hokail

 

·       Saad Ibrahim Al Mojil

 

·       Abdulaziz Al Rashid Co

 

·       Al Adwan Company

 

·       Abdullah Al Khurasini Sons Co

 

·       Mohamed Al Mutlaq Co

 

 

AFFILIATED COMPANIES

 

·       United Development Group Co Ltd

PO Box: 351

Riyadh 11383

Tel: (966-1) 2650260 / 2650341

Fax: (966-1) 2650275 / 2650290

CR No. 1010088036/001

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of plastic packaging, paper and cardboard products.

 

Import Countries: Europe and the Far East.

 

Operating Trend: Steady

 

Subject has a workforce of approximately 235 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 77,250,000                           SR 78,800,000

 

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

 

The above financial figures are based on estimations by our local 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.

 

Date of transaction                              November 2007                        December 2008

Amount overdue                         0                                              0

Payment terms                                      90 days                                     90 days

Payment Method                                   Letters of Credit                         Letters of Credit

Paying record                                        No Complaints                           No Complaints

Currency                                               Euros                                        Euros

 

 

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.54.88

UK Pound

1

Rs.86.84

Euro

1

Rs.70.21

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.