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Report Date : |
28.09.2012 |
IDENTIFICATION DETAILS
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Name : |
NATIONAL PLANT FOR HEALTHY WATER (HANA) |
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Registered Office : |
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Country : |
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Year of Establishment : |
1981 |
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Com. Reg. No.: |
1010239999, Riyadh |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Subject operates a water desalination, treatment and bottling plant |
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No. of Employees : |
165 employees |
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 (31.03.2012) |
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 : NATIONAL PLANT FOR HEALTHY WATER (HANA)
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Start Date : 1981
Commercial Registration Number : 1010239999, Riyadh
Chamber Membership Number : 189455
Issued Capital : SR 4,300,000
Paid up Capital : SR 4,300,000
Total Workforce : 165
Activities : Subject operates a water desalination, treatment and bottling plant
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Osama Sulaiman, Purchasing Manager
NATIONAL PLANT FOR
HEALTHY WATER (HANA)
Registered &
Physical Address
Street : Al Ahsa
Street
Area : Al Malaz
District
PO Box : 1339
Town : Riyadh 11431
Country : Saudi Arabia
Telephone : (966-1) 4737584 / 4787245
Facsimile : (966-1) 4781432
Email : admin@hanawater.net / osamasul@hanawater.com
Premises
Subject operates
from a large suite of offices that are owned and located in the Central
Business Area of Riyadh.
Branch Office (s)
Location Description
·
Al Sulaei Industrial Area Distribution
Centre
Riyadh
Tel: (966-1) 2411115
Fax: (966-1) 2411252
·
Industrial
Area Factory
premises
Buraiadh
Tel: (966-6) 3800280
Fax: (966-6) 3800474
Name Position
·
Sheikh Khalid Hamoud Ibrahim
Al Diyab Managing
Partner
·
Sheikh
Ahmed Hamoud Ibrahim Al Diyab Partner
·
Mohamed
Hassan Al Zahrani General
Manager
·
Saad Farhan Al Shammary Commercial
Manager
·
Elias
Al Noman Marketing
Manager
·
Osama Sulaiman Purchasing
Manager
Date of Establishment : Subject’s
operations date back to 1981, however it was registered under its current style
on 12th November 2007
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 1010239999, Riyadh
Chamber Member No. : 189455
Issued Capital : SR 4,300,000
Paid up Capital : SR 4,300,000
Name of Partner
(s)
·
Sheikh Khalid Hamoud Ibrahim
Al Diyab
·
Sheikh
Ahmed Hamoud Ibrahim Al Diyab
·
Al Diyab Holding Co
Riyadh
Saudi Arabia
Activities: Subject operates a water desalination,
treatment and bottling plant.
The factory was one of the largest local factories in the region in
terms of having a production capacity of seven lines is the latest of its kind
in this area, which results in four different sizes of bottles filled with a
capacity of 330 ml, 600 ml 1.5-litre and five-litre.
In August 2009, subject signed a deal with Meed
Holdings which owns more than 220 health shops across the Kingdom. Under the
agreement subject will supply Hanawater to all health
shops.
Subject is ISO 9001-2000 accredited.
Import
Countries: France and Italy
Brand Names: HANAWATER
Subject has a
workforce of approximately 165 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
Malaz Branch
PO Box: 42536
Riyadh 11551
Tel: (966-1) 4776450
Fax: (966-1) 4769502
No complaints
regarding subject’s payments have been reported.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.26 |
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UK Pound |
1 |
Rs.86.23 |
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Euro |
1 |
Rs.68.64 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
---- |
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.