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Report Date : |
12.08.2013 |
IDENTIFICATION DETAILS
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Name : |
TRIOMADA PLASTIC
INTERNATIONAL CO |
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Registered Office : |
Road No. 217, P O
Box 11797, Jubail 31961 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
21.07.2009 |
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Com. Reg. No.: |
2055009274, Jubail |
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Legal Form : |
Limited Liability
Company |
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Line of Business : |
Manufacturers of
plastic and stretch films and wraps. |
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No. of Employees : |
50 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Saudi Arabia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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 17% 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. Over 5 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 2005. 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 : TRIOMADA PLASTIC
INTERNATIONAL CO
Country of Origin : Saudi
Arabia
Legal Form :
Limited Liability Company
Start Date :
2006
Registration Date : 21st
July 2009
Commercial
Registration Number : 2055009274,
Jubail
Issued Capital : SR
34,000,000
Paid up Capital : SR
34,000,000
Total Workforce : 50
Activities :
Manufacturers of plastic and stretch films and wraps.
Financial Condition : Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Caeser Rayes,
Financial Controller
TRIOMADA PLASTIC
INTERNATIONAL CO
Location : Road No. 217
PO Box : 11797
Town : Jubail 31961
Country : Saudi Arabia
Telephone : (966-3) 3415900
Facsimile : (966-3) 3416676
Mobile : (966-56) 5784288
Email : abdulaziz.bazuhair@triomadagroup.com
/ info@triomada.com
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Jubail.
Name Position
·
Mark
Hardkar President
·
Abdulaziz Ba Zuhair Administration
Manager
·
Kamana Srinivas Production
Manager
·
Victor Fernandes Commercial
Manager
·
Rashid Mahmood Finance
Manager
·
Marlon
De La Cruz IT
Manager
·
Caeser
Rayes Financial
Controller
·
Loay
Darwish Logistics
Manager
Date of Establishment : 2006, however
subject was registered on 21st July 2009
Legal Form :
Limited Liability Company
Commercial Reg. No. : 2055009274,
Jubail
Issued Capital : SR 34,000,000
Paid up Capital : SR 34,000,000
·
Al Rajhi Holding Group 50%
Saudi Arabia
·
Trio Plast AB 50%
Sweden
Activities: Engaged
in the manufacture of plastic and stretch films and wraps.
Subject is specialized in the production of 5-layer Cast pallet Wrap
Stretch Film using state of the art technology. The focused ranges of products
are Trio 100, 200, 250 and 300 with thickness ranging from 15 to 50 microns, supplemented by jumbo
reels from 15 to 50 microns of thickness.
Import
Countries: Europe and the Far East.
Export
Countries: Algeria, Lebanon, Morocco, Canada,
Bahrain, Qatar, Pakistan, Egypt, New Zealand,
India, South Africa, Tunisia, Jordan, Kuwait and the United Arab
Emirates.
Operating Trend: Steady
Subject has a
workforce of 50 employees.
Financial
highlights provided by local sources are given below:
Currency: Saudi
Riyals (SR)
Year
Ending 31/12/11: Year
Ending 31/12/12:
Total Sales SR 221,000,000 SR 202,991,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Caeser Rayes, Financial Controller
·
National
Commercial Bank
PO Box: 58
Jubail 51951
Tel: (966-3) 3612896
Fax: (966-3) 3611750
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.61.11 |
|
|
1 |
Rs..94.77 |
|
Euro |
1 |
Rs.81.54 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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 |
|
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 |
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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 |
|
<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.