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Report Date : |
24.05.2012 |
IDENTIFICATION DETAILS
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Name : |
SAUDI CYPRUS FOUNDRIES LTD |
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Registered Office : |
Industrial Area, Phase 3 |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
1953 |
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Com. Reg. No.: |
4030172429, Jeddah |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacturers man hole covers and frames, gratings, surface boxes, cast metal steps, pipe fittings and engineering parts. |
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No. of Employees : |
110 |
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 : |
Satisfactory |
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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
|
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 : SAUDI CYPRUS FOUNDRIES LTD
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Start Date : 1953
Registration Date : 1st February 2007
Commercial Registration Number : 4030172429, Jeddah
Chamber Membership Number : 122937
Issued Capital : SR 5,000,000
Paid up Capital : SR 5,000,000
Total Workforce : 110
Activities : Manufacturers man hole covers and frames, gratings, surface boxes, cast metal steps, pipe fittings and engineering parts.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Tawfiq Al Hakami, Human Resources Manager
SAUDI CYPRUS FOUNDRIES LTD
Location : Industrial
Area, Phase 3
PO Box : 977
Town : Jeddah 21421
Country : Saudi Arabia
Telephone : (966-2) 6364596
/ 6377973 / 6081923
Facsimile : (966-2)
6080901
Email : tofialahmed@sc-foundries.com
/ contact@sc-foundries.com
Subject operates from a medium sized suite of offices and a factory that
are rented and located in the Industrial Area of Jeddah.
Name Nationality Position
· Ahmed Sadiq Najeeb
Mostafa Saudi Managing
Partner
· Afrem Kouddides Cypriot Partner
· Hussam Ahmed Sadiq
Najeeb Mostafa Saudi Partner
· Bassam Ahmed Sadiq
Najeeb Mostafa Saudi Partner
· Nizar Al Jarie - Finance
Manager
· Khalil Ibrahim - Quality
Control Manager
· Tawfiq Al Hakami - Human
Resources Manager
· Wagus Mohamed - Sales
Executive
Date of
Establishment : 1953, however
subject was registered 1st February 2007 (full production began in
January 2009)
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 4030172429, Jeddah
Chamber Member No. : 122937
Issued Capital : SR 5,000,000
Paid up Capital : SR 5,000,000
· A E Koukkides Ltd
Cyprus
· Ahmed Sadiq Najeeb
Mostafa
· Hussam Ahmed Sadiq
Najeeb Mostafa
· Bassam Ahmed Sadiq
Najeeb Mostafa
· Arabian Factory
For Steel Sheet
Jeddah
· Al Manar For Oil
& Lubricants
Jeddah
Activities: Engaged in the manufacture of man hole covers and frames, gratings,
surface boxes, cast metal steps, pipe fittings and engineering parts.
Subject is ISO 9001:2008 accredited.
Import Countries: Europe and GCC countries.
Operating Trend: Steady
Subject has a workforce of 110 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
6,780,000 SR
7,100,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Tawfiq Al Hakami, Human Resources
Manager
·
National Commercial Bank
King Abdul Aziz Street
PO Box: 3555
Jeddah 21481
Tel: (966-2)
6446644
Fax: (966-2)
6446644
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
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.93 |
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|
1 |
Rs.88.15 |
|
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 |
-- |
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.