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Report Date : |
24.05.2012 |
IDENTIFICATION DETAILS
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Name : |
AL WATANIA FOR INDUSTRIES LTD |
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Formerly Known As : |
SULAIMAN ABDUL AZIZ AL RAJHI EST |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
1972 |
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Com. Reg. No.: |
1010240366, Riyadh |
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Legal Form : |
Closed Shareholding Company |
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Line of Business : |
Subject operates several divisions (see below for details)
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No. of Employees : |
3,500 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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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
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Saudi Arabia |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company Name : AL WATANIA FOR INDUSTRIES LTD
Previously Known As : SULAIMAN ABDUL AZIZ AL RAJHI EST
Country of Origin : Saudi Arabia
Legal Form : Closed Shareholding Company
Start Date : 1972
Registration Date : 2nd March 2008
Commercial Registration Number : 1010240366, Riyadh
Chamber Membership Number : 195630
Issued Capital : SR 320,000,000
Paid up Capital : SR 320,000,000
Total Workforce : 3,500
Activities : Subject operates several divisions (see below for details)
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Ali Salayana, Finance Manager
AL WATANIA FOR INDUSTRIES LTD
PREVIOUSLY KNOWN AS: SULAIMAN ABDUL AZIZ AL RAJHI EST
Street : Al Kharj
Road
Area : New
Industrial Area
PO Box : 4130 &
7769
Town : Riyadh 11472
Country : Saudi Arabia
Telephone : (966-1) 4470088
/ 4489178 / 4481364 / 4466395 / 4980088
Facsimile : (966-1)
4489256 / 4481364 / 4480089 / 4989595
Mobile : (966-56)
1494584
Email : info@wataniaind.com
Subject operates from a large suite of offices that are owned and
located in the Industrial Area of Riyadh.
Branch Office (s)
Subject has branches located in Jeddah, Dammam, Buraidah, Madinah, Abha,
Al Hasa, Hail, Jizan and Khamis Mushait.
Name Position
· Sheikh Sulaiman
Abdulaziz Al Rajhi Managing
Partner
· Sheikh Fahd
Sulaiman Abdulaziz Al Rajhi Partner
· Sheikh Abdulallah
Sulaiman Abdulaziz Al Rajhi Partner
· Sheikh Yousef
Sulaiman Abdulaziz Al Rajhi Partner
· Saleh Sulaiman Al
Habdan Partner
· Ahmed Saleh Al Khalaf Partner
· Ibrahim El Behirt General
Manager
· Ali Salayana Finance
Manager
· Mohamed Al Louise Marketing
Manager
· Mohamed Shahid Export
Manager
· Mustafa Mohamed
Ahmed Technical
Manager
· Emad Abdul Qader Technology
Manager
Date of
Establishment : 1972, however
subject was registered on 24/02/1429 Hijri (corresponding to 2nd
March
2008)
History : Subject began in 1972
under the name “Sulaiman Abdul Aziz Al Rajhi Est”. However in 2007
it changed names to “Al Watania for
Industries Ltd”.
Legal Form : Closed
Shareholding Company
Commercial Reg.
No. : 1010240366, Riyadh
Chamber Member No. : 195630
Issued Capital : SR 320,000,000
Paid up Capital : SR 320,000,000
· Sheikh Sulaiman
Abdulaziz Al Rajhi 99.90%
· Sheikh Fahd
Sulaiman Abdulaziz Al Rajhi 0.02%
· Sheikh Abdulallah
Sulaiman Abdulaziz Al Rajhi 0.02%
· Sheikh Yousef
Sulaiman Abdulaziz Al Rajhi 0.02%
· Saleh Sulaiman Al
Habdan 0.02%
· Ahmed Saleh Al
Khalaf 0.02%
· Al Rajhi
Development Co Ltd
PO Box: 4301
Riyadh 11491
Tel: (966-1)
4761581 / 4769102 / 4777576
Fax: (966-1)
4769775
· Gulf Packaging
System
Industrial City
PO Box: 2143
Jeddah 21451
Tel: (966-2)
6380735 / 6380736
· Saudi Arabian
Amiantit Co Ltd
PO Box: 1029
Riyadh 11431
Tel: (966-1)
4658665
· Amar Line Maritime
Co Ltd
Madinah Road
PO Box: 1689
Jeddah 21441
Tel: (966-2)
6510773
· Al Rajhi & Al
Sedais Co
Madinah Road
PO Box: 1597
Jeddah 21441
Tel: (966-2)
6511173
· Al Rajhi Banking
& Investment Corporation
Al Batha Street
PO Box: 242
Riyadh 11411
Tel: (966-1)
4032473 / 4054244
Fax: (966-1)
4035588
· Saudi Ceramic Co
PO Box: 3893
Riyadh 11481
Tel: (966-1)
4770715 / 4880379
Fax: (966-1)
4782897
· Arabian Gulf
Manufacturers Limited (Gulfmaid)
Makkah
Road, Kilo-7
Industrial
City, Phase 5
PO Box:
2143
Jeddah
21451
Tel:
(966-2) 6377944 / 6801416
Fax: (966-2)
6365445 / 6380540
· Al Rajhi
Commercial Foreign Exchange
Palestine Street
PO Box: 4514
Riyadh 21412
Tel: (966-1)
6700260
Fax: (966-1)
6716387
· Al Rajhi Company
for Industry & Trading
First Industrial
Area
PO Box: 34138
Riyadh 11491
Tel: (966-1) 4470088
/ 4466395
Fax: (966-1)
4489256
· Al Rajhi Company
for Agriculture Ltd
Prince Abdullah
Street
Malaz
PO Box: 51764
Riyadh 11553
Tel: (966-1)
4763313 / 4768368
Fax: (966-1)
4768370
· Gulf Packaging
Industries Company Ltd
First Industrial
City
PO Box: 8556
Dammam
Tel: (966-3)
8570044 / 8576063
Fax: (966-3)
8577345 / 8572903
· Yanbu Cement
Company
Madinah Road
PO Box: 5330
Jeddah 21422
Tel: (966-2)
6534588 / 6534584
· International
Spare Parts Trading & Manufacturing Co Ltd (Alaman)
Khorais Road
First Industrial
City
PO Box: 51482
Riyadh
Tel: (966-1)
4486394 / 2318882
Activities: Subject’s operations are performed through the following divisions:
Address: Hail
Street
Industrial Area
No. II
PO Box: 10554
Riyadh
11443
Tel:
(966-1) 2650054 / 2650036
Fax:
(966-1) 2650905
Email:
pla-mkt@wataniaind.com
Activities: Al Watania Plastic operates a factory
using local raw materials from Sabic to produce more than 55,000 tons of
plastic products annually. The division specialises in the manufacture of
plastic injection moulding and thermo forming products.
Management: Shaker Aqil – Division Manager
Mostafa Hamdy –
Commercial Manager
Ashook Kol – Purchasing
Manager
Address : PO
Box: 7769 & 4130
Riyadh
11472
Tel:
(966-1) 4470088 / 2651525
Fax:
(966-1) 4489256 / 2657489
Email:
exp@wataniaind.com
Activities : This division was established in 1972
and has become one of the most important and productive factories for Al
Watania. The factory is engaged in the production of assorted fruit juices and
tomato paste.
Packaging is done using cans (170 ml, 190
ml, and 245 ml), bottles (200ml), and tetra pack (125 ml, 250 ml, and 1 litre).
Production
capacity : Fruit Juice - 40,000 cartons
daily
Tomato paste – 2,000,000 cartons per
annum
Around 70% of production is absorbed by the
local Saudi market, the remainder being exported to international markets.
The National Factory for Foodstuff
Production became the first Saudi food-manufacturing factory to obtain the SASO
quality mark because of the high quality of its products and its adherence to
international specifications and hygiene standards.
Brand Names : AL-WAHA and LOB
Address : PO
Box: 4130
Riyadh
11491
Tel:
(966-1) 4463947 / 4470088
Fax:
(966-1) 4481364 / 4489256
Email:
exp@wataniaind.com
Activities : A specialized packaging factory that
supplies corrugated cartons to many engineering, food, agricultural and
petrochemical industries.
Address : PO
Box: 10554
Riyadh
11443
Tel:
(966-1) 4774244
Fax:
(966-1) 4489256
Activities : Was established in 1396H (1975) to
serve many of the construction phases within the Kingdom and to supply the
local market with high standard products.
Address : Old Industrial Area
Riyadh
Tel: (966-1) 4470088
Fax: (966-1) 4475028
Activities : This division specialises in the
manufacture of cans and containers.
Import Countries: Europe and the United States of America
Brand Names: CMC, WAHA, RCF and POPEYE
Operating Trend: Steady
Subject has a workforce of approximately 3,500 employees.
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
1,360,000,000 SR
1,500,000,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Ali Salayana,
Finance Manager
·
Al Rajhi Banking & Investment Corporation
PO Box: 28
Sitteen Street
Malaz District
Riyadh 11411
Tel: (966-1)
4054647 / 4054244
Fax: (966-1)
4044753 / 4052950 / 4037156
·
Arab National Bank (ANB)
King Faisal Street
North Morabbaa
PO Box: 56921
Riyadh 11564
Tel: (966-1)
4029000
Fax: (966-1)
4027747
No complaints regarding subject’s payments have been reported.
Credit amount 70,000 100,000 1,500,000
Amount overdue 0 0 0
Payment terms 30
days 60 days 120 days
Payment Method Letters
of Credit Letters of Credit Letters of Credit
Paying record No
Complaints No Complaints No Complaints
Currency Euros US Dollars Euros
Please note that commercial registration number 1001669959 is incorrect.
Al Watania For Industries Ltd has operations dating back to 1972 and is
very well established in the local market. It operates through several
divisions and all of subject’s factories are ISO 9002 certified.
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
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Indian Rupees |
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US Dollar |
1 |
Rs.55.93 |
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1 |
Rs.88.15 |
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Euro |
1 |
Rs.70.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.