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Report Date : |
25.09.2012 |
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Tel. No.: |
0096612655465 |
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Fax No.: |
0096612654767 |
IDENTIFICATION DETAILS
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Name : |
DEL MONTE SAUDI ARABIA CO LTD |
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Registered Office : |
Al Khomrah Industrial Area PO Box 20621
Jeddah 21465 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
03.06.2003 |
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Com. Reg. No.: |
4030161424, Jeddah |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of canned fruit. |
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No. of Employees : |
400 |
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
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
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 : DEL MONTE SAUDI ARABIA CO LTD
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Company
Registration Date : 3rd June 2003
Commercial Registration Number : 4030161424, Jeddah
Chamber Membership Number : 88887
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Total Workforce : 400
Activities : Distributors of canned fruit.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
DEL MONTE SAUDI ARABIA CO LTD
Location : Al Khomrah Industrial Area
PO Box : 20621
Town : Jeddah 21465
Country : Saudi Arabia
Telephone : (966-2) 6170000
Facsimile : (966-2)
6173333
Mobile : (966-53)
5001288 / (966-55) 1188274
Email : mohamedyafoufi@freshdelmonte.com / iasaad@freshdelmonte.com
Subject operates from a large suite of offices and a warehouse that are
rented and located in the Industrial Area of Jeddah.
Branch Office (s)
Location Description
· PO Box: 40023 Warehouse
premises
Riyadh
Tel: (966-1) 4761400
/ 2655465
Fax: (966-1)
2654767
Name Position
· Mohamed Yafoufi General
Manager
· Iyad Asaad Marketing
Manager
· Mohamed Abbas Sales
Manager
Date of
Establishment : 03/04/1424 Hijri (corresponding
to 3rd June 2003)
Legal Form : Limited Liability
Company
Commercial Reg.
No. : 4030161424,
Jeddah
Chamber Member No. : 88887
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
· A K Al Muhaideb & Sons
Saudi Arabia
· Del Monte Inc
United States of America
Activities: Engaged in the import and distribution of canned fruit.
Import Countries: Europe and the Far East.
Brand Names: DEL MONTE
Subject has a workforce of approximately 400 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
Al Balad Branch
King Abdulaziz
Street
PO Box: 5066
Jeddah 21422
Tel: (966-2)
6434777
Fax: (966-2)
6441686
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.53.29 |
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|
1 |
Rs.86.43 |
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Euro |
1 |
Rs.68.95 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
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 |
|
-- |
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.