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Report Date : |
10.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
MIDDLE EAST
BATTERY COMPANY LTD (MEBC) |
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|
|
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Registered Office : |
Fluor Arabia Building,
King Abdul Aziz Street, 360, Dhahran Airport 31932, Dammam |
|
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|
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Country : |
Saudi Arabia |
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|
|
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Date of Incorporation : |
April 1996 |
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|
|
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Com. Reg. No.: |
2050030781, Dammam |
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|
|
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Legal Form : |
Limited Liability Partnership |
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|
|
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Line of Business : |
Manufacture and
marketing of batteries. |
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|
|
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No. of Employees : |
320 |
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 : |
Good |
|
Payment Behaviour : |
Regular |
|
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 (31.03.2012) |
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 |
Company Name : MIDDLE
EAST BATTERY COMPANY LTD (MEBC)
Country of Origin : Saudi
Arabia
Legal Form :
Limited Liability Partnership
Registration Date : April 1996
Commercial
Registration Number :
2050030781, Dammam
Chamber Membership
Number : 217
Issued Capital : SR
57,500,000
Paid up Capital : SR
57,500,000
Total Workforce : 320
Activities :
Manufacture and marketing of batteries.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
MIDDLE EAST BATTERY
COMPANY LTD (MEBC)
Building : Fluor Arabia Building
Street : King Abdul Aziz Street
PO Box : 360, Dhahran Airport
31932
Town : Dammam
Country : Saudi Arabia
Telephone : (966-3) 8578577 ext. 2701
Facsimile : (966-3) 8578577 ext. 2702
Email : info@mebco.com
Subject operates
from a large suite of offices that are rented and located in the Suburban
Business Area of Dammam.
Branch Office
(s)
Location Description
·
Dammam
– Al Hasa Highway Owned
factory premises
2nd Industrial Area covering
an area of 100,000
PO Box: 13441 square
metres
Dammam 31493
Tel: (966-3) 8121221
Fax: (966-3) 8121246
Name Position
·
Khalid Abdullah Al Zamil Chief
Executive Officer
·
Talal Al Zamel General
Manager
·
Ahmad Sarrar Finance
Manager
·
Bader El-Houssami Marketing
& Sales Manager
·
Abdulaziz Abdullah Marghi Manufacturing
Manager
·
Raouf Klibi Engineering
Manager
·
Yasser Al Nass Purchasing
Manager
· Ali Al Awdah Administration
Manager
·
Ahmad Katerji Business
Development Manager
Date of Establishment : April 1996
(Production began in mid-January 1999)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 2050030781,
Dammam
Chamber Member No. : 217
Issued Capital : SR 57,500,000
Paid up Capital : SR 57,500,000
·
Arabian
Battery Holding Co * 49.00%
·
Al
Zamil Group Co 14.73%
Prince Talal Bin Abdulaziz
Street
PO Box: 9
Al Khobar 31952
Saudi Arabia
Tel: (966-3) 8824888 / 8641299
Fax: (966-3) 8822509 / 8871663
Mob: (966-55) 800619
·
Al
Mutlaq Trade & Development Co 14.73%
Al Mutlaq Group Building, 4th
Floor
Sitteen Street
Malaz
PO Box: 1321
Riyadh
Saudi Arabia
Tel: (966-1) 4770644
Fax: (966-1) 4775677
·
Saudi
Automotive Services Co 7.94%
Al Akkariyah Centre
Al Olaya Street
PO Box: 51880
Riyadh 11553
Saudi Arabia
Tel: (966-1) 4634403
·
Abdullatif
Alissa Group 6.80%
PO Box: 193
Al Khobar
Saudi Arabia
·
Al
Jomaih Holding Co 6.80%
PO Box: 132
Riyadh
Saudi Arabia
* Arabian Battery Holding Co is
a subsidiary of Johnson Controls Inc.
Johnson
Controls Inc.
5757 N. Green Bay Avenue
PO Box: 591
Milwaukee, WI 53201
United
States of America
Tel: (1-414) 5241200
Activities: Engaged in the manufacture and marketing of
maintenance free (Delco-Freedom) batteries for the
automotive, marine and
commercial markets.
The MEBC plant was built at a
cost of SR 210 million.
Production
Capacity : 1,100,000 batteries per annum.
Import
Countries: United States of
America and Germany.
Export Countries
: Subject exports to GCC
countries as well as Egypt, Lebanon, Sudan, Jordan, Syria and Yemen.
Brand Names: AC DELCO and FREEDOM
Subject has a
workforce of approximately 320 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.
·
Saudi American
Bank
PO Box: 3113
Dammam 31471
Tel: (966-3) 8337171
·
Saudi
British Bank
PO Box: 35
Al Khobar 31932
Tel: (966-3) 8642868
Acc No. 041 010455 082
No complaints
regarding subject’s payments have been reported.
Credit amount 240,399 100,000
Amount overdue 0 0
Payment terms 60
days 60
days
Payment Method Letters
of Credit Letters
of Credit
Paying record No
Complaints No
Complaints
Currency Pounds
Sterling Pounds
Sterling
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.52.37 |
|
|
1 |
Rs.83.99 |
|
Euro |
1 |
Rs.67.99 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.