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Report Date : |
03.01.2013 |
IDENTIFICATION DETAILS
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Name : |
PACKAGING
SOLUTIONS FACTORY CO LTD |
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Registered Office : |
Industrial Area,
Phase 4, Plot No. 6 & 7, 34110 Jeddah 21448 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
21.11.2007 |
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Com. Reg. No.: |
4030174054, Jeddah |
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Legal Form : |
Limited Liability
Partnership |
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Line of Business : |
Manufacture of plastic products |
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No. of Employees : |
180 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 (31.03.2011) |
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 : PACKAGING SOLUTIONS
FACTORY CO LTD
Country of Origin : Saudi
Arabia
Legal Form :
Limited Liability Partnership
Registration Date : 21st November 2007
Commercial
Registration Number : 4030174054, Jeddah
Chamber Membership
Number : 122122
Issued Capital : SR
47,000,000
Paid up Capital : SR
47,000,000
Total Workforce : 180
Activities :
Manufacture of plastic products.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Saleh Mohamed
Saleh, Commercial Manager
PACKAGING SOLUTIONS
FACTORY CO LTD
Location : Industrial Area, Phase 4, Plot No.
6 & 7
PO Box : 34110
Town : Jeddah 21448
Country : Saudi Arabia
Telephone : (966-2) 6080719
Facsimile : (966-2) 6080711 / 6082213
Mobile : (966-54) 0645105
Email : info@psfksa.com / s.zorab@psfksa.com
Subject operates
from a medium sized suite of offices and a factory covering an area of 21,200 square
metres that are rented and located in the Industrial Area of Jeddah.
Name Position
·
Ibrahim Ali Saeed Al Marbee Managing
Partner
·
Saeed Ali Saeed Al Marbee Partner
·
Ahmed
Ibn Ali Saeed Al Marbee Partner
·
Magdi El Bani General
Manager
·
Ezz Eddine Abu Radwan Finance
Manager
·
Abdullah Ba Raya Production
Manager
·
Saleh
Mohamed Saleh Commercial
Manager
·
Mohamed
Ahad Technical
Manager
Date of Establishment : 11/11/1428 Hijri (corresponding to 21st November
2007)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 4030174054, Jeddah
Chamber Member No. : 122122
Issued Capital : SR 47,000,000
Paid up Capital : SR 47,000,000
·
Ibrahim Ali Saeed Al Marbee
·
Saeed Ali Saeed Al Marbee
·
Ahmed
Ibn Ali Saeed Al Marbee
·
Saudi
Modern Packaging Co Ltd (Printopack)
Jeddah Industrial City, Phase
5
PO Box: 19596
Jeddah 21445
Tel: (966-2) 6081051 / 6081074
/ 6375478 / 6371316 / 6511653
Fax: (966-2) 6081082 / 6354567
/ 6530346
·
Al
Marbee Malamine Co
Industrial Area
PO Box: 1666
Jeddah 21441
·
Al
Marbee Plastic Co
Industrial
Area
PO Box: 1666
Jeddah 21441
·
Capital
Trading Est
Industrial Area
PO Box: 1666
Jeddah 21441
Activities: Engaged in the manufacture of plastic products including PET preforms, closures,
PE lamination, barrier, shrink, stretch, CPP & metalized CPP films and also
extrusion poly coated & laminated paper & boards.
Import Countries: Belgium, China and India
Subject has a
workforce of approximately 180 employees.
Financial
highlights provided by local sources are given below:
Currency: Saudi
Riyals (SR)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales SR 184,000,000 SR 198,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Saleh Mohamed Saleh, Commercial Manager
·
National
Commercial Bank
Al Balad Branch
King Abdulaziz Street
PO Box: 5066
Jeddah 21422
Tel: (966-2) 6434777
Fax: (966-2) 6441686
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.54.39 |
|
|
1 |
Rs.88.76 |
|
Euro |
1 |
Rs.72.19 |
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 |
|
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.