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Report Date : |
26.03.2013 |
IDENTIFICATION DETAILS
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Name : |
MOHAMED BAWAZIR FOR TRADING (MBT) |
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Registered Office : |
Abdel Maksoud
Street, Al Rawda District, P O Box 16129, Jeddah 21454 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
09.12.1986 |
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Com. Reg. No.: |
4030059457, Jeddah |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import and distribution of foodstuffs, personal care products, and tobacco |
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No. of Employees : |
250 |
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 : |
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 – 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 : MOHAMED BAWAZIR FOR TRADING (MBT)
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 9th December 1986
Commercial Registration Number : 4030059457, Jeddah
Chamber Membership Number : 28114
Issued Capital : SR 4,000,000
Paid up Capital : SR 4,000,000
Total Workforce : 250
Activities : Import and distribution of foodstuffs, personal care products, and
tobacco.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Abdul Fadil Abu Zaid, Finance Manager
MOHAMED BAWAZIR FOR
TRADING (MBT)
Registered &
Physical Address
Street : Abdel Maksoud Street
Area : Al Rawda District
PO Box : 16129
Town : Jeddah 21454
Country : Saudi Arabia
Telephone : (966-2) 6989999 / 6601160
Facsimile : (966-2) 6390033 / 6656729
Email : mbt2000ksa@sps.net.sa / info@mbtksa.com
Please note that subject’s
previous address was, Castillo Center, Rawda Street, Rouwais District, Jeddah.
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Jeddah.
Branch Office (s)
Location Description
·
Jeddah Distribution
depot
Tel: (966-2) 6293880
Fax: (966-2) 6294175
·
Riyadh Distribution depot
Tel: (966-1) 2431766
Fax: (966-1) 2431613
·
Dammam Distribution depot
Tel: (966-3) 8473715
Fax: (966-3) 8473708
·
Madinah Distribution depot
Tel: (966-4) 8458283
·
Tabuk Distribution depot
Tel: (966-4) 4219370
·
Khamis
Mushait Distribution depot
Tel: (966-7) 2210547
Name Position
·
Mohamed Fouzi Bawazir Managing
Partner
·
Hussam Fouzi Bawazir Partner
·
Fouzi Mohamed Bawazir General
Manager
·
Nedal Al Karmi Sales
Manager
·
Saad Ghanim Commercial
Manager
·
Abdul Fadil Abu Zaid Finance
Manager
Date of Establishment : 07/04/1407 Hijri
(corresponding to 9th December 1986)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 4030059457, Jeddah
Chamber Member No. : 28114
Issued Capital : SR 4,000,000
Paid up Capital : SR 4,000,000
Name of Partner
(s)
·
Mohamed Fouzi Bawazir
·
Hussam Fouzi Bawazir
Activities: Engaged in the import and distribution of
foodstuffs, personal care products, and tobacco. Subject
operates a fleet of 150
vehicles.
Import
Countries: Spain, France,
Italy, United Kingdom and the United States of America.
Operating Trend: Steady
Subject has a
workforce of approximately 250 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 Revenue SR 187,000,000 SR 191,300,000
Local sources
consider subject’s financial condition to be Good.
The above financial
figures are based on estimations by our local sources.
·
Arab
National Bank (ANB)
Madinah Road
PO Box: 9463
Jeddah 21413
Tel: (966-2) 6600272
Fax: (966-2) 6650202
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.54.09 |
|
UK Pound |
1 |
Rs.82.47 |
|
Euro |
1 |
Rs.70.49 |
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.