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Report Date : |
03.10.2012 |
IDENTIFICATION DETAILS
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Name : |
AL HAYAT BUILDING MATERIALS CO LTD |
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Registered Office : |
Mecca Medina Express Highway PO Box 18053 Jeddah 21415 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
29.11.1985 |
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Com. Reg. No.: |
4030041450, Jeddah |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of building materials, hardware, power tools, decorative materials and sanitary ware products |
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No. of Employees : |
550 |
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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 |
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
Company Name : AL HAYAT BUILDING MATERIALS CO LTD
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 29th November 1985
Commercial Registration Number : 4030041450, Jeddah
Chamber Membership Number : 17875
Issued Capital : SR 10,000,000
Paid up Capital : SR 10,000,000
Total Workforce : 550
Activities : Distributors of building materials, hardware, power tools, decorative
materials and sanitary ware products
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Ahmed Medhat, Financial Controller
AL HAYAT BUILDING MATERIALS CO LTD
Location : Mecca Medina
Express Highway
PO Box :
18053
Town : Jeddah 21415
Country : Saudi Arabia
Telephone : (966-2) 6732322
/ 6736327 / 6712380 / 6407777
Facsimile : (966-2)
6712380 / 2272727
Email : info@hayatbmc.com
/ hayatbma@ogertel.com
Subject operates from a medium sized suite of offices and a warehouse
that are rented and located in the Central Business Area of Jeddah.
Branch Office (s)
Subject operates a network of 20 branches located
throughout the Kingdom, including the following:
Location Description
· Riyadh Office
& warehouse premises
Tel: (966-1)
2410939
· Dammam Office
& warehouse premises
Tel: (966-3)
8571688
· Khamis Mushait Office
& warehouse premises
Tel: (966-7)
2237937
· Al Hasa Office
& warehouse premises
Tel: (966-3)
5861311
· Jizan Office
& warehouse premises
Name Position
· Issam Mohamed
Khairy Al Kabbani Managing
Partner
· Zayad Zain Al
Abdin Partner
· Fawaz Hajjar General
Manager
· Bassam Dalaoua Finance
Manager
· Ahmed Medhat Financial
Controller
· Nedal Al Obaid Sales
Manager
Date of
Establishment : 16/03/1406
(corresponding to 29th November 1985)
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 4030041450, Jeddah
Chamber Member No. : 17875
Issued Capital : SR 10,000,000
Paid up Capital : SR 10,000,000
· Issam Mohamed
Khairy Al Kabbani
· Zayad Zain Al
Abdin
· National Marketing
Est
Port Road
PO Box: 16375 /
17931
Jeddah 21464
Tel: (966-2)
6475010 / 6473381
Fax: (966-2)
6474503
Commercial
Registration Number: 4030006734
Engaged as
wholesalers of UPVC pipes and fittings and a wide range of items and products
related to water, drainage and conduit installation projects. Subject is also
engaged in the distribution and installation of decorative materials.
· United Building
Materials Co Ltd (UNITECH)
Also Known As:
Issam Kabbani & Partners for Prefabricated Building & Trading Co
Al Amin Al Aam
Street
Al Azizeyyah
District
PO Box: 5338
Jeddah 21422
Tel: (966-2)
6659096
Fax: (966-2) 6658079
Commercial
Registration Number: 4030032842
Engaged as
wholesalers and distributors of building materials, sealants, adhesives,
bitumen coatings, hardware and tools.
· Issam Kabbani
& Partners for Waterproofing Materials Co (BMC)
PO Box: 5338
Jeddah 21422
Tel: (966-2)
6673180
Fax: (966-2)
6658079
Commercial
Registration Number: 4030032844
BMC is an
engineering and contracting company specialising in waterproofing,
damp-proofing, heat insulation and concrete repair.
· Al Kabbani Co for
Electric Trading
PO Box: 18033
Jeddah 21415
Tel: (966-2)
6481713
Fax: (966-2)
6478065
Distributors of
electrical fittings, switchgear boards and cables.
· Al Hayat
Supermarket
PO Box: 16375
Jeddah 21464
· Marketing Fittings
Sanitary & Plumbing Co
PO Box: 16375
Jeddah
Retailers of
sanitary fittings.
· Issam Kabbani Co
PO Box: 16375
Jeddah 21464
Wholesalers of
foodstuff.
· Emam Distribution
Co Ltd
PO Box: 1716
Jeddah 21441
Tel: (966-2)
6824294
Fax: (966-2)
6918227
· Specialist
International Marketing Group Co
PO Box: 6338
Jeddah 21422
Tel: (966-2)
6672000
Fax: (966-2)
6658079
· Saudi Turkish
Marine & Construction Contracting Co Ltd
PO Box: 7371
Jeddah 21462
Tel: (966-2)
6670457
Fax: (966-2)
6652473
· Mahmoud Adada
& Issam Kabbani & Partners Ltd
PO Box: 520
Makkah
Tel: (966-2)
5205555 / 5803056
Engaged in the
production of wooden and metal furniture and kitchen units, as well as door,
windows and decorative wood.
Activities: Engaged as distributors of building materials, hardware, power tools, decorative
materials and sanitary
ware products.
Import Countries: United Kingdom, Germany, Italy, Spain, Belgium and
South Korea
International Suppliers:
· Kludi Germany
· Grohe Germany
· AEG
Electrowerkezeug GmbH Germany
· Ge Plastics Europe Germany
· Hawera Probst GmbH
& Co Germany
· Weiser United
Kingdom
· Tremco Sealants United
Kingdom
· Pigler United
Kingdom
· Saviel Italy
· Fischer Italia Srl Italy
· Sangra Spain
· Carlisle Syntec
Systems Belgium
· Seo Young South
Korea
Subject has a workforce of 550 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
Palestine Square
PO Box: 7161
Jeddah 21462
Tel: (966-2) 6697384
Fax: (966-2) 6697388
·
Al Bank Al Saudi Al Fransi
Al Sharafiya
Branch
Madinah Road
PO Box: 7888
Jeddah 21472
Tel: (966-2)
6605863
No complaints regarding subject’s payments have been reported.
Al Hayat Building Materials Co Ltd has operations dating back to 1984
and is engaged in the distribution of building materials, hardware and sanitary
ware products. It enjoys a good reputation for the quality of its products and
deals with a host of reputable international suppliers.
Subject is owned by members of the Kabbani family who have many years
experience in the building materials industry.
According to local sources subject’s operating history is clear with
nothing detrimental uncovered regarding the manner in payment obligations are
met. The financial position is considered to be satisfactory and the business
is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.78 |
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1 |
Rs.85.16 |
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Euro |
1 |
Rs.67.78 |
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.