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Report Date : |
09.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
ASTRA POLYMER
COMPOUNDING CO LTD |
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|
|
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Registered Office : |
2nd
Industrial City, PO Box 30740, Al Khobar 31952 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
19.04.1993 |
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Com. Reg. No.: |
2050025268,
Dammam |
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Legal Form : |
Limited Liability
Partnership |
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Line of Business : |
Production of Masterbatches |
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No. of Employees : |
250 |
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 |
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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 – 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 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 : ASTRA POLYMER COMPOUNDING CO LTD
Country of Origin : Saudi
Arabia
Legal Form :
Limited Liability Partnership
Registration Date : 19th
April 1993
Commercial
Registration Number :
2050025268, Dammam
Chamber Membership Number : 1594
Issued Capital : SR
24,000,000
Paid up Capital : SR
24,000,000
Total Workforce : 250
Activities :
Production of masterbatches
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
ASTRA POLYMER
COMPOUNDING CO LTD
Location : 2nd Industrial City
PO Box : 30740
Town : Al Khobar 31952
Country : Saudi Arabia
Telephone : (966-3) 8121232 / 8121441
Facsimile : (966-3) 8121342
Email : info@astra-polymers.com
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Al Khobar.
Branch Office
(s)
Location Description
·
PO Box:
3863 Rented
sales office
Riyadh
11481
Tel: (966-1)
4771488
Fax: (966-1)
4780679
·
Salma Commercial Center, Suite 243, 2nd Floor Rented sales office
Jeddah
Tel: (966-2) 6503811
Name Position
·
Mohamed
Nasser Saqr Al Otaibi Managing
Partner
·
Sabih
Taher Al Masri Partner
·
Ali Mazrawi General
Manager
·
Bander
Al Otaibi Commercial
Manager
·
Veronco
Lahaylahay Production
Manager
·
Nigel Fazzish Technical
Manager
Date of Establishment : 27/10/1413
Hijri (corresponding to 19th April 1993)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 2050025268,
Dammam
Chamber Member No. : 1594
Issued Capital : SR 24,000,000
Paid up Capital : SR 24,000,000
·
Astra
Industrial Group
Riyadh
Tel: (966-11) 4752002
·
Mohamed
Nasser Saqr Al Otaibi
·
Sabih
Taher Al Masri
Subject is a member of the Astra Group of Companies, which consists of
the following concerns:
·
Arab
Supply & Trading Corporation (ASTRA)
Airport
Road
PO Box: 254
Tabuk
Tel: (966-4) 4220400
Fax: (966-4) 4281584 / 4237649
Email: astra@nour.net.sa
·
Astra
Agricultural Co Ltd
Sitteen Street
Malaz
PO Box: 54061
Riyadh 11514
Tel: (966-1) 4772346 / 4731130
Fax: (966-1) 4782102
·
National
Metal Industries Co Ltd
New Industrial Area
PO Box: 1737
Riyadh 11441
Tel: (966-1) 4982572
Fax: (966-1) 4982580
·
Astra
Industrial Complex For Fertilizer & Agrochemicals Ltd (Astrachem)
Sitteen
Street
Malaz
PO Box: 54061
Riyadh 11514
Tel: (966-1) 4772346
Fax: (966-1) 4782102
Email: astrachem@nournet.com
·
Tabuk
Pharmaceutical Manufacturing Co Ltd
Madinah Road
Tabuk Industrial Area
PO Box: 1486
Tabuk
Tel: (966-4) 283030
Fax: (966-4) 283031
Email: tpmc-r@nournet.com.sa
·
Nour
Communications Co Ltd
Sitteen Street
Al Malaz District
PO Box: 21557
Riyadh 11485
Tel: (966-1) 4776555 / 4728900
Fax: (966-1) 4787171 / 4727727
Email: info@nour.com.sa
·
Saudi Mais Co. For Medical
Products (SMMP)
Al Kharj Road
Third Industrial City
PO Box: 277 & 42801
Riyadh 11383
Tel: (966-1) 2650184 / 2650169 / 2650236 / 2650219
Fax:
(966-1) 2650139
Email: medical@mais.com.sa
·
Al Mona
Company
PO Box: 41197
Riyadh 11521
Tel: (966-1) 4981687
·
Saudi
Mais Co for Irrigation Systems Ltd
PO Box: 42801
Riyadh 11551
Tel: (966-1) 4982779
Fax: (966-1) 4983739
·
Astra
Caravan Co Ltd
PO Box: 54061
Riyadh 11514
·
Astra
Pharma
PO Box: 54061
Riyadh 11514
·
Al
Masri Al Khalaf Trading Company
·
Saudi
Mats Co
·
International
Building Systems Factory Co Ltd
Activities: Engaged
in the production of high-quality masterbatches and
dust free additive systems together with
custom-made thermoplastic compounds for the polymer manufacturing and plastics
processing industries.
Subject is ISO 9002
certified.
Import
Countries: Europe and the United States of America
Subject has a
workforce of approximately 250 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
PO Box: 1
Al Khobar 31952
Tel (966-3) 8949669
Fax (966-3) 8646474
No complaints
regarding subject’s payments have been reported.
Credit amount 34,000
Amount overdue 0
Payment terms 180
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Pounds
Sterling
Established in
1993, subject is involved in the production of high-quality
masterbatches and dust free additive systems together with custom-made
thermoplastic compounds for the polymer manufacturing and plastics processing
industries.
Please note that we
were unable to contact the subject directly during our investigation.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.67 |
|
|
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.84.25 |
INFORMATION DETAILS
|
Report
Prepared by : |
NNA |
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.