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Report Date : |
25.05.2012 |
IDENTIFICATION DETAILS
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Name : |
AXLES FOUNDRIES & SPARE PARTS FACTORY
(MASABIK) |
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Registered Office : |
2nd |
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Country : |
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Date of Incorporation : |
08.02.1986 |
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Com. Reg. No.: |
2050016156, Dammam |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacturers of castings in grey, ductile iron, steel and non-ferrous alloys |
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No. of Employees : |
150 |
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) |
|
Saudi
Arabia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
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Off-credit |
D |
Company Name : AXLES FOUNDRIES & SPARE PARTS FACTORY (MASABIK)
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 8th February 1986
Commercial Registration Number : 2050016156, Dammam
Chamber Membership Number : 1364
Issued Capital : SR 255,564,450
Paid up Capital : SR 255,564,450
Total Workforce : 150
Activities : Manufacturers of castings in grey, ductile iron, steel and non-ferrous
alloys.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Dr Bilal Al Shaer, Marketing Manager
AXLES FOUNDRIES
& SPARE PARTS FACTORY (MASABIK)
Registered &
Physical Address
Location : 2nd Industrial City
PO Box : 8491
Town : Dammam 31482
Country : Saudi Arabia
Telephone : (966-3) 8121147 / 8121267 / 8430436
Facsimile : (966-3) 8121301 / 8423967
Email : sales@masabik.com
Premises
Subject operates
from a suite of offices and a factory, covering 40,000 square metres that are
owned and located in the Industrial Area of Dammam.
Name Position
·
Fahd
Ali Abdullah Al Zamil Managing
Partner
·
Shaker
Bin Nafel Bin Sharee Al Otaibi General
Manager
·
Dr Bilal Al Shaer Marketing
Manager
Date of Establishment : 29/05/1406
Hijri (corresponding to 8th February 1986)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 2050016156,
Dammam
Chamber Member No. : 1364
Issued Capital : SR 255,564,450
Paid up Capital : SR 255,564,450
Name of
Shareholder (s)
·
National
Metal Manufacturing & Casting Co (MAADANIYA)
·
Fahd
Ali Abdullah Al Zamil
·
Arabian Axles Foundries & Spare Parts Factory
Jeddah
Activities: Engaged in the manufacture of castings in
grey, ductile iron, steel and non-ferrous alloys.
Production Capacity: 10,000 tons per year.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of approximately 150 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: 13
Dammam 31411
Tel: (966-3) 8331188
Fax: (966-3) 8336058
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.56.29 |
|
UK Pound |
1 |
Rs.88.26 |
|
Euro |
1 |
Rs.70.82 |
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 |
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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 |
|
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.