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Report Date : |
10.05.2013 |
IDENTIFICATION DETAILS
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Name : |
AL AZIZIA PANDA UNITED INC |
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Registered Office : |
City Plaza Building,
Prince Sultan Street, P O Box 33333, Jeddah 21448 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
21.03.2005 |
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Com. Reg. No.: |
4030154350, Jeddah |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Operators of hypermarkets and supermarkets |
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No. of Employees : |
5500 |
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 : |
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 |
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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 : AL AZIZIA PANDA UNITED INC
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Company
Registration Date : 21st March 2005
Commercial Registration Number : 4030154350, Jeddah
Chamber Membership Number : 103848
Issued Capital : SR 250,000,000
Paid up Capital : SR 250,000,000
Total Workforce : 5,500
Activities : Operators of hypermarkets and supermarkets.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Hussain Al Ghamdi, Public Relations Manager
AL AZIZIA PANDA
UNITED INC
Registered &
Physical Address
Building : City Plaza Building
Street : Prince Sultan Street
PO Box : 33333
Town : Jeddah 21448
Country : Saudi Arabia
Telephone : (966-2) 6916644
Facsimile : (966-2) 6926159
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Jeddah.
Branch Office (s)
Subject has approximately 140 stores located throughout Saudi Arabia.
Name Position
·
Mowafaq Mansour Jamal Chief
Executive Officer
·
Ghassan Al Zahrani Finance
Manager
·
Fadi Al Shabtly Commercial
Manager
·
Bassim Al Tuwaigiri Operations
Manager
·
Hussain Al Ghamdi Public
Relations Manager
·
Sari Filmban Legal
Manager
Date of Establishment : 10/02/1426
Hijri (corresponding to 21st March 2005)
Legal Form :
Limited Liability Company
Commercial Reg. No. : 4030154350,
Jeddah
Chamber Member No. : 103848
Issued Capital : SR 250,000,000
Paid up Capital : SR 250,000,000
Name of
Shareholder (s)
·
Savola Group
PO Box: 14455
Jeddah 21424
Tel: (966-2) 6573333
Fax: (966-2) 6484119
·
Al Atar Packaging Co
Riyadh
·
Al Hokair Group
Riyadh
·
Local
businessmen and private investors
Activities: Engaged as operators of hypermarkets and
supermarkets.
Import Countries: Europe and the United States of America.
Subject has a
workforce of approximately 5,500 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
King Abdul Aziz Street
PO Box: 3555
Jeddah 21481
Tel: (966-2) 6446644
Fax: (966-2) 6446644
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.54.24 |
|
UK Pound |
1 |
Rs.84.30 |
|
Euro |
1 |
Rs.71.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
|
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.