|
Report Date : |
22.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
UNITED PLASTIC
PRODUCTS CO LTD (UPPC) |
|
|
|
|
Registered Office : |
Jeddah Industrial City, Phase 4, Road No. 404, Street No. 405, 32859,
Jeddah 21438 |
|
|
|
|
Country : |
Saudi Arabia |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
15th
November 1992 |
|
|
|
|
Com. Reg. No.: |
4030091307, Jeddah |
|
|
|
|
Legal Form : |
Limited Liability
Partnership |
|
|
|
|
Line of Business : |
Manufacturers of
polyethylene
film. |
|
|
|
|
No. of Employees : |
400 |
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 : |
Regular |
|
|
|
|
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 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
saudi arebia - 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 : UNITED PLASTIC
PRODUCTS CO LTD (UPPC)
Country of Origin : Saudi
Arabia
Legal Form :
Limited Liability Partnership
Registration Date : 15th
November 1992
Commercial
Registration Number :
4030091307, Jeddah
Chamber Membership
Number : 45323
Issued Capital : SR
18,000,000
Paid up Capital : SR
18,000,000
Total Workforce : 400
Activities :
Manufacturers of polyethylene film.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Maroon Assi,
Finance Manager
UNITED PLASTIC PRODUCTS CO LTD (UPPC)
Registered &
Physical Address
Location : Jeddah
Industrial City, Phase 4, Road No. 404, Street No. 405
PO Box : 32859
Town : Jeddah 21438
Country : Saudi Arabia
Telephone : (966-2) 6081477
/ 6380885 / 6370757 / 6658139 / 6080704
Facsimile : (966-2)
6380825 / 6658140
Email : info@napcounited.com
/ uppc@zajil.net
/ maroon.assi@napcogroup.com
Premises
Subject operates from a suite of offices and a factory covering an area
of 25,000 square meters that are owned and located in the Industrial Area of
Jeddah.
Name Position
Mohamed Walid Yassin Commercial
Manager
Murali Thachanghot Purchasing
Manager
Maroon Assi Finance
Manager
Cherbel Bechara Quality
Control Manager
Ronin Dhagher Factory
Manager
Date of Establishment : 20/05/1413 Hijri
(corresponding to 15th November 1992)
Legal Form : Limited Liability
Partnership
Commercial Reg. No. : 4030091307,
Jeddah
Chamber Member No. : 45323
Issued Capital : SR 18,000,000
Paid up Capital : SR 18,000,000
Name of Partner
(s)
Jamal Abdul Rahman Abdulaziz Al Muaibed
United Commercial Investments Company
PO Box: 7170
Riyadh 11462
Saudi Arabia
Frem Industrial Group
Abdul Muhsen Abdullah Al Mutlaq
Mutlaq Abdullah Al Mutlaq
Fawzi Tarsa Saif
Marwan Hussain Abdullatif
Subject is a member of the Napco Group of
Companies, which began activities in 1956 and has since grown into a SR1
billion operation.
The Napco Group of Companies consists of the
following concerns:
· Napco Riyadh Paper
Products Company Ltd (NRPC)
Prince Salman
Street (Street No. 305), Exit 17
Riyadh Industrial
Area, Phase III
PO Box: 827
Riyadh 11421
Tel: (966-1)
2650155 / 2412087 / 2415283
Fax: (966-1)
2650223 / 2412098
Email: napcoriyadh@napcogroup.com
· Easternpak
2nd Industrial City, Street No. 135
PO Box: 9942
Dammam 31423
Tel: (966-3)
8121341
Fax: (966-3)
8121305
E-mail: info@napcoeasternpak.com
· Multipak
Industrial Area Phase 4, Street 407
PO Box: 32826
Jeddah 21438
Tel: (966-2)
6081118
Fax: (966-2)
6081063
E-mail: info@napcomultipak.com
· Napco
Composite Packaging Technology (Compact)
2nd Industrial City, Street 133
PO Box: 31646
Al Khobar 31952
Tel: (966-3)
8121244
Fax: (966-3)
8121322
Email: info@napcocompact.com
· National
Consumer Products Company (NCPC)
First Industrial
City, 6th Street
PO Box: 214
Dammam 31421
Tel: (966-3)
8471914 / 8473111
Fax: (966-3)
8471918
Email: info@napcoconsumer.com
· Napco Modern
Plastic Products Company (NMPPC)
Dammam-Al
Khobar Road
First
Industrial City
PO Box:
206
Dammam
31411
Saudi Arabia
Tel:
(966-3) 8473040
Fax:
(966-3) 8471484
Email: info@napcomodern.com
· National
Paper Company Ltd (NPCL)
Industrial City Phase 4, Street 404
PO Box: 30263
Jeddah 21477
Tel: (966-2) 6370757
Fax: (966-2) 6374886
Email: info@napcoconsumer.com
· National Paper
Products Company (NPPC)
Ibn Sina Road
1st Industrial
City
PO Box: 538
Dammam 31421
Tel: (966-3)
8473111 / 8471617
Fax:
(966-3) 8471435
Email: info@napcopaper.com
· Saudi Paper Cups
& Containers Co Ltd (SPCC)
Jeddah Industrial Area, Street 413
PO Box: 12175
Jeddah 21473
Tel: (966-2)
6370918 / 6512381 / 6370447 / 6378357
Fax: (966-2)
6518557 / 6379842
Email: wdaher@saudipapercups.com
Activities: Subject is one of the largest polyethylene film manufacturers in the
Middle East, producing plain and
printed LDPE, LLDPE, PA/PE co-extruded, mono-layer, and composite films.
The company also supplies flexible packaging film and finished products to
medical, hygiene, industrial, and agricultural customers throughout the region.
UPPC also offers flexographic printing services.
Subject was ISO 9002 accredited in August 1998.
Production
Capacity: 45,000 tonnes per annum
Import Countries: The Netherlands, Belgium and the United States of
America
Operating Trend: Steady
Subject has a workforce of approximately 400 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 113,000,000 SR
115,600,000
Local sources consider subject’s financial condition to be Fair.
Saudi Investment Bank (SAIB)
PO Box: 5577
Jeddah 21432
Tel: (966-2) 6531010
Fax: (966-2) 6532333
National Commercial Bank
Al Balad Branch
King Abdulaziz Street
PO Box: 5066
Jeddah 21422
Tel: (966-2) 6434777
Fax: (966-2) 6441686
Arab National Bank (ANB)
Madinah Road
PO Box: 9463
Jeddah 21413
Tel: (966-2) 6600272
Fax: (966-2) 6650202
Al Bank Al Saudi Al Fransi
Al Sharafiya Branch
Madinah Road
PO Box: 7888
Jeddah 21472
Tel: (966-2) 6605863
No complaints regarding subject’s payments have been reported.
Date of transaction July
2008 July
2009
Credit amount 600,000 600,000
Amount overdue 0 0
Payment terms 90
days 90
days
Payment Method Letters
of Credit Letters
of Credit
Paying record Regular
Regular
Currency Euros Euros
United Plastic Products Co Ltd (UPPC) was established in 1993 and is one
of the largest polyethylene film manufacturers in the Middle East, producing plain
and printed LDPE, LLDPE, PA/PE co-extruded, mono-layer, and composite films.
The company is a member of the Napco Group of Companies, which began
activities in 1956 and has since grown into a SR1 billion operation.
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.63.46 |
|
UK Pound |
1 |
Rs.99.42 |
|
Euro |
1 |
Rs.85.12 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
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.