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Report Date : |
12.10.2012 |
IDENTIFICATION DETAILS
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Name : |
FAKIEH FEED FACTORY BRANCH OF FAKIEH POULTRY FARMS |
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Registered Office : |
Jeddah Industrial Estate Phase 2, Road No. 33 PO Box 8763 Jeddah 21492 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
21.03.1974 |
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Com. Reg. No.: |
4030008148, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Manufacture of animal feeds. |
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No. of Employees : |
200 |
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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 |
A1 |
A1 |
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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 : FAKIEH FEED FACTORY BRANCH OF FAKIEH POULTRY FARMS
country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 21st March 1974
Commercial Registration Number : 4030008148, Jeddah
Trade Licence Number : 1222/S
Membership Number : 21114
Industrial Licence Number : 1537/S
Invested Capital : SR 1,500,000
Total Workforce : 200
Activities : Manufacture of animal feeds.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Haytham Ahmed, Senior Purchasing Officer
FAKIEH FEED FACTORY BRANCH OF FAKIEH POULTRY FARMS
Location : Jeddah
Industrial Estate Phase 2, Road No. 33
PO Box : 8763
Town : Jeddah 21492
Country : Saudi Arabia
Telephone : (966-2) 6363836
/ 6373424
Facsimile : (966-2)
6361559
Mobile : (966-56)
5210021
Email : info@fakiehgroup.com
/ hrsheed@fakiehgroup.com
Subject operates from a large suite of offices and a factory that are
owned and located in the Industrial Area of Jeddah.
Branch Office (s)
Location Description
· Makkah Office
& warehouse premises
Tel: (966-2)
5572225
Fax: (966-2)
5505034
Name Position
· Abdulrahman Abdul
Qader Fakieh Proprietor
& General Manager
· Mahmoud
Abdulrahman Abdul Qader Fakieh Assistant
General Manager
· Dr Fouad Azhar Production
Manager
· Zayed Shahabi Finance
Manager
· Ahmed Jalal Financial
Controller
· Haytham Ahmed Senior
Purchasing Officer
Date of
Establishment : 27/02/1394 Hijri
(corresponding to 21st March 1974)
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 4030008148, Jeddah
Trade Licence No. : 1222/S
Membership No. : 21114
Industrial Licence
No. : 1537/S
Invested Capital : SR 1,500,000
Mr Abdulrahman Abdul Qader Fakieh is the sole proprietor of the
business.
· Taza Fakieh BBQ
Chicken
· Tazj Restaurant
· Fakieh Poultry Farm
Activities: Engaged in the manufacture of animal feeds.
Import Countries: Europe and the Far East
Subject has a workforce of approximately 200 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.
·
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.
Credit amount 125,000
Amount overdue 0
Payment terms 120
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Euros
Established in 1974, subject is owned and managed by Mr Abdulrahman
Abdul Qader Fakieh who is well respected in the local business community.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.07 |
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1 |
Rs.84.95 |
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Euro |
1 |
Rs.68.24 |
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.