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Report Date : |
16.10.2012 |
IDENTIFICATION DETAILS
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Name : |
ARABIAN LADINA FOR INDUSTRIES CO LTD |
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Registered Office : |
Al Nokhbah Tower,
North Tower, 6th Floor, Hail Street, P O Box 22870, Jeddah 21416 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
15.05.2006 |
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Com. Reg. No.: |
4030161666, Jeddah |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacturers and recyclers of plastics |
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No. of Employees : |
60 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
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
|
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 |
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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 : ARABIAN LADINA FOR INDUSTRIES CO LTD
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 15th May 2006
Commercial Registration Number : 4030161666, Jeddah
Chamber Membership Number : 110248
Issued Capital : SR 1,000,000
Paid up Capital : SR 1,000,000
Total Workforce : 60
Activities : Manufacturers and recyclers of plastics
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
ARABIAN LADINA FOR
INDUSTRIES CO LTD
Registered &
Physical Address
Location : Al Nokhbah Tower, North Tower, 6th
Floor
Street :
Hail Street
PO Box : 22870
Town : Jeddah 21416
Country : Saudi Arabia
Telephone : (966-2) 6519922 / 6519603
Facsimile : (966-2) 6500813
Email : sales@ladina.com / info@ladina.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Jeddah.
Branch Offices
Location Description
·
Al
Khomrah Industrial Area Factory
premises
Jeddah
Tel: (966-2) 2360220
Name Position
·
Mazen
Mohamed Saleh Bahareth Managing
Partner
·
Mrs
Lubna Bader Partner
·
Ahmed
Mazen Mohamed Saleh Bahareth General
Manager
·
Mohamed
Anas Bader Administration
Manager
·
Mohamed
Abdul Ghani Finance
Manager
Date of Establishment : 16/04/1427
Hijri (corresponding to 15th May 2006)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 4030161666,
Jeddah
Chamber Member No. : 110248
Issued Capital : SR 1,000,000
Paid up Capital : SR 1,000,000
Name of Partner
(s)
·
Mazen
Mohamed Saleh Bahareth
·
Mrs
Lubna Bader
Activities: Engaged in the manufacture of PE, PP,
polystyrene and polycarbonate plastics and recyclers of plastic.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 60 employees.
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 14,480,000 SR 15,200,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
National
Commercial Bank
PO Box: 3555
Jeddah 21481
Tel: (966-2) 6446644
Fax: (966-2) 6446644
No complaints regarding
subject’s payments have been reported.
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.53.12 |
|
UK Pound |
1 |
Rs.85.15 |
|
Euro |
1 |
Rs.68.60 |
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 |
|
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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.