MIRA INFORM REPORT

 

 

Report Date :

19.11.2012

 

IDENTIFICATION DETAILS

 

Name :

Khalifa A AL gosaibi coldstores

 

 

Registered Office :

222, Dammam, Dhahran Highway, Dammam 31411

 

 

 

 

Country :

Saudi Arabia

 

 

 

 

Date of Incorporation :

17.07.1994

 

 

 

 

Com. Reg. No.:

2050028296, Dammam

 

 

 

 

Legal Form :

Limited Liability Company

 

 

 

 

Line of Business :

Subject is engaged in import and distribution of frozen meat and poultry, confectionery and beverages.

 

 

 

 

No. of Employees :

650

 

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

Saudi Arabia

A2

A2

 

Risk Category

ECGC Classification

 

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Saudi Arabia - ECONOMIC OVERVIEW

 

Saudi Arabia has an oil-based economy with strong government controls over major economic activities. It possesses about one-fifth of the world's proven petroleum reserves, ranks as the largest exporter of petroleum, and plays a leading role in OPEC. The petroleum sector accounts for roughly 80% of budget revenues, 45% of GDP, and 90% of export earnings. Saudi Arabia is encouraging the growth of the private sector in order to diversify its economy and to employ more Saudi nationals. Diversification efforts are focusing on power generation, telecommunications, natural gas exploration, and petrochemical sectors. Almost 6 million foreign workers play an important role in the Saudi economy, particularly in the oil and service sectors, while Riyadh is struggling to reduce unemployment among its own nationals. Saudi officials are particularly focused on employing its large youth population, which generally lacks the education and technical skills the private sector needs. Riyadh has substantially boosted spending on job training and education, most recently with the opening of the King Abdallah University of Science and Technology - Saudi Arabia''s first co-educational university. As part of its effort to attract foreign investment, Saudi Arabia acceded to the WTO in December 2005 after many years of negotiations. The government has begun establishing six "economic cities" in different regions of the country to promote foreign investment and plans to spend $373 billion between 2010 and 2014 on social development and infrastructure projects to advance Saudi Arabia''s economic development.

                                                                          

Source : CIA

SUMMARY

 

Company Name                         : KHALIFA A AL GOSAIBI COLDSTORES

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Limited Liability Company

Registration Date                                   : 17th July 1994

Commercial Registration Number            : 2050028296, Dammam

Chamber Membership Number                : 1697

Issued Capital                                        : SR 1,000,000

Paid up Capital                                      : SR 1,000,000

Total Workforce                         : 650

Activities                                               : Distributors of frozen meat and poultry, confectionery and beverages.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

 

COMPANY NAME

 

KHALIFA A AL GOSAIBI COLDSTORES

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : Dammam Dhahran Highway

 

PO Box             : 222

 

Town                 : Dammam 31411

Country : Saudi Arabia

 

Telephone         : (966-3) 8681442 / 8914520 / 8681075

Facsimile          : (966-3) 8661515

Email                : info@kacs-kaat.com

 

PREMISES

 

Subject operates from a large suite of offices and a warehouse that are rented and located in the Central Business Area of Dammam.

 

BRANCH OFFICES

 

Subject has branch offices located in Qassim, Al Hasa, Riyadh and Jeddah.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Khalifa Abdulrahman Al Gosaibi                                                          Managing Director

 

·       Sami Khalifa Abdulrahman Al Gosaibi                                     Director

 

·       Badr Khalifa Abdulrahman Al Gosaibi                                                  Director

 

·       Salah Khalifa Abdulrahman Al Gosaibi                                                Director

 

·       Telal Al Gosaibi                                                                                 General Manager

 

·       Haider Mowlana                                                                                Finance Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  :  08/02/1415 Hijri (corresponding to 17th July 1994)

 

Legal Form                  : Limited Liability Company

 

Commercial Reg. No.  : 2050028296, Dammam

 

Chamber Member No. : 1697

 

Issued Capital              : SR 1,000,000

 

Paid up Capital            : SR 1,000,000

 

 

Name of Shareholder (s)                                                                               Percentage                      

 

·       Khalifa Abdulrahman Al Gosaibi Holding Company                                           100%

Dammam - Khobar Highway

1st Industrial City

PO Box: 222

Dammam 31411

Tel: (966-3) 8474444

Fax: (966-3) 8471854

CR No. 2050025447

 

 

OPERATIONS

 

Activities: Engaged in import and distribution of frozen meat and poultry, confectionery and beverages.

 

Import Countries: Europe and the Far East.

 

Subject has a workforce of approximately 650 employees.

 

 

FINANCIAL DATA

 

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.

 

 

BANKERS

 

·       Riyad Bank

Corniche Road

Dammam

Tel: (966-3) 8323440

Fax: (966-3) 8337829

 

 

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.54.99

UK Pound

1

Rs.87.21

Euro

1

Rs.70.22

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIT

 

 

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.