MIRA INFORM REPORT

 

 

Report Date :

29.05.2012

 

IDENTIFICATION DETAILS

 

Name :

BATTERJEE FOR BASIC PLASTIC MATERIAL CO LTD

 

 

Registered Office :

Jeddah Industrial City, Zone 1, P O Box10667, Jeddah 21443

 

 

Country :

Saudi Arabia 

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

28.03.2008

 

 

Com. Reg. No.:

4030177692, Jeddah

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacturers of polyethylene, plastic compounds and batches

 

 

No. of Employees :

55

 

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                                     : BATTERJEE FOR BASIC PLASTIC MATERIAL CO LTD

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Limited Liability Company

Registration Date                                   : 28th March 2008

Commercial Registration Number            : 4030177692, Jeddah

Chamber Membership Number                : 127873

Issued Capital                                        : SR 2,000,000

Paid up Capital                                      : SR 2,000,000

Total Workforce                                     : 55

Activities                                               : Manufacturers of polyethylene, plastic compounds and batches

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Person Interviewed                                 : Thaer Zidan, General Manager

 

 

 

COMPANY NAME

 

BATTERJEE FOR BASIC PLASTIC MATERIAL CO LTD

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Jeddah Industrial City, Zone 1

PO Box             : 10667

Town                 : Jeddah 21443

Country             : Saudi Arabia

Telephone         : (966-2) 6084455 / 6084444

Facsimile          : (966-2) 6087275 / 6080404

Mobile               : (966-53) 5365433

Email                : thaerzidan@batterjeeplas.com

 

Premises

Subject operates from a medium sized suite of offices and a factory that are rented and located in the Industrial Area of Jeddah.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

·       Sheikh Mazin Batterjee                                                                      Managing Director

·       Mohamed Mazin Batterjee                                                                 Director

·       Thaer Zidan                                                                                       General Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 21/03/1429 Hijri (corresponding to 28th March 2008)

 

Legal Form                  : Limited Liability Company

 

Commercial Reg. No.  : 4030177692, Jeddah

 

Chamber Member No. : 127873

 

Issued Capital              : SR 2,000,000

 

Paid up Capital            : SR 2,000,000

 

Name of Shareholder (s)

·       Sheikh Mazin Batterjee

·       Mohamed Mazin Batterjee

·       Batterjee Holding Co

Jeddah

Tel: (966-2) 6604448

Fax: (966-2) 6602228

 

 

AFFILIATED COMPANIES

 

·       Batterjee Ice Cream Factory

 

·       Batterjee Juices Factory

 

·       Batterjee Factory for Cosmetics & Baby Care Products

 

·       Batterjee Household Products

 

·       Batterjee Pharmaceuticals Factory

 

·       Batterjee Factory for Garments & Leather Products

 

·       Batterjee Factory for Special Needs

 

·       Batterjee Foodstuff Factory

 

·       Batterjee Healthy Food Factory

 

·       Batterjee Plastic Raw Materials Factory

 

·       Batterjee Oil Recycling

 

·       Batterjee Polyclinics

 

·       Batterjee Pharmacies

 

·       Nesma Batterjee Oil & Gas

 

·       Nesma Batterjee Recycling

 

·       Stadia Batterjee Sports Company

 

·       Zero Waste Saudi Arabia

 

·       Environmental Services Batterjee Investment Company

 

·       Batterjee General Trading Company

 

·       Batterjee Real Estate Company

 

·       Batterjee Packaging Systems

 

·       Batterjee Steel Structure

 

·       Batterjee Technical Steel Services

 

·       Batterjee for Ready Mix and Construction Materials Solutions

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of polyethylene, plastic compounds and batches.

 

Import Countries: Europe and the Far East.

 

Operating Trend: Steady

 

Subject has a workforce of 55 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 28,850,000                           SR 32,500,000

 

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

 

The above figures were provided by Mr Thaer Zidan, General Manager

 

 

BANKERS

 

 

·       National Commercial Bank

King Abdul Aziz Street

PO Box: 3555

Jeddah 21481

Tel: (966-2) 6446644

Fax: (966-2) 6446644

 

 

PAYMENT HISTORY

 

 

No complaints regarding subject’s payments have been reported.

 

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.55.26

UK Pound

1

Rs.86.80

Euro

1

Rs.69.63

 

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.