|
Report Date : |
27.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
ARAB COMPANY FOR MODERN INDUSTRIES |
|
|
|
|
Registered Office : |
Industrial Area, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
01.12.2004 |
|
|
|
|
Com. Reg. No.: |
1185002223, Wadi Al Dawasir |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business : |
Manufacturers of fruit juice and mineral water |
|
|
|
|
No. of Employees : |
600 employees |
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 : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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 : ARAB COMPANY FOR MODERN INDUSTRIES
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 1st December 2004
Commercial Registration Number : 1185002223, Wadi Al Dawasir
Chamber Membership Number : 150909
Issued Capital : SR 1,000,000
Paid up Capital : SR 1,000,000
Total Workforce : 600
Activities : Manufacturers of fruit juice and mineral water.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Ahmed Abdo, Administration Manager
ARAB COMPANY FOR MODERN INDUSTRIES
Registered &
Physical Address
Location : Industrial Area
PO Box : 111
Town : Wadi Al Dawasir 11991
Country : Saudi Arabia
Telephone : (966-1) 7862255 / 8001243111
Facsimile : (966-1) 7862520
Email : info@dala.com.sa / a.a.s@dala.com.sa
Premises
Subject operates from
a large suite of offices and a factory that are rented and located in the
Industrial Area of Wadi Al Dawasir.
Name Position
·
Saqer Mohamed Al Saqer Managing
Partner
·
Mohamed Saqer Al Wadani Partner
·
Ahmed Abdo Administration
Manager
·
Fareeq Shawqi Financial
Controller
Date of Establishment : 18/10/1425
Hijri (corresponding to 1st December 2004)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 1185002223,
Wadi Al Dawasir
Chamber Member No. : 150909
Issued Capital : SR 1,000,000
Paid up Capital : SR 1,000,000
Name of Partner
(s)
·
Saqer Mohamed Al Saqer
·
Mohamed Saqer Al Wadani
Activities: Engaged in the manufacture of fruit juice
and mineral water.
Import
Countries: Europe and the
Far East.
Brand Names: DALA
Subject has a
workforce of approximately 600 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
Batha Branch
PO Box: 34
Tel: (966-1) 4010076 / 4025084
Fax: (966-1) 4034625
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.53.58 |
|
UK Pound |
1 |
Rs.86.60 |
|
Euro |
1 |
Rs.68.94 |
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 |
|
---- |
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.