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Report Date : |
02.09.2013 |
IDENTIFICATION DETAILS
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Name : |
NAPCO CONSUMER PRODUCTS CO |
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Registered Office : |
Dammam – Al Khobar Highway, 6th Street, First Industrial
City, PO Box 214, Dammam 31411 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
04.02.1993 |
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Com. Reg. No.: |
2050024797, Dammam |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the manufacture of various consumer products and
confectionery snacks, tissue products,sanitary napkins, paper bags, aluminium
foil and cling film, baby diapers, trash bags, food stock bags and sandwich
bags |
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No. of Employees : |
500 |
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 : |
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 – 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 |
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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 :
NAPCO CONSUMER PRODUCTS CO
Country of Origin :
Saudi Arabia
Legal Form :
Limited Liability Partnership
Registration Date :
4th February 1993
Commercial Registration Number :
2050024797, Dammam
Chamber Membership Number :
265
Issued Capital :
SR 20,000,000
Paid up Capital :
SR 20,000,000
Total Workforce :
500
Activities :
Manufacture of various consumer products and confectionery snacks,
as well as tissue products, sanitary napkins
and a variety of bags.
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Abdul Illah, Financial
Controller
NAPCO CONSUMER PRODUCTS CO
Street : Dammam – Al
Khobar Highway, 6th Street
Area : First
Industrial City
PO Box : 214
Town : Dammam 31411
Country : Saudi Arabia
Telephone : (966-3) 8571222
/ 8473111 / 8471914
Facsimile : (966-3)
8571918 / 8471918 / 8471627
Email : ncpc@napcogroup.com / ailah@napcogroup.com / info@napco.com.sa
Subject operates from a medium sized suite of offices, a factory and
storage facilities that are owned and located in the Industrial Area of Dammam.
Branch Office (s)
Location Description
· Alhasa Rented
warehouse premises
· Riyadh Rented
warehouse premises
Name Position
· Hussein Abdul
Latif Mohamed Hussein Abdul Latif Managing
Partner
· Jamal Abdul Rahman
Al Moaibed Partner
· Georges Nematallah
Frem Partner
· Abdul Muhsen
Abdullah Al Mutlaq Partner
· Mutlaq Abdullah Al
Mutlaq Partner
· Peter Hatim General
Manager
· John Sulaiman Commercial
Manager
· Elias Mai El Faran Finance
Manager
· Abdul Illah Financial
Controller
· Christophe Moeuwad Production
Manager
Date of Establishment : 12/08/1413 Hijri (corresponding to 4th
February 1993)
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 2050024797, Dammam
Chamber Member No. : 265
Issued Capital : SR 20,000,000
Paid up Capital : SR 20,000,000
· Al Moaibed Group
Ltd 30%
PO Box: 1040
Dammam
31431
Saudi
Arabia
· Georges Frem Pertetuity Ltd 30%
Jersey
United
Kingdom
· United Commercial
Investments Company 20%
PO Box: 7170
Riyadh 11462
Saudi
Arabia
· Al Mutlaq Industrial Investment Group 20%
Riyadh
Saudi Arabia
· Sanita Paper &
Plastic Products Sarl (Sanita)
Halat Main Street
Halat
PO Box: 112354
Beirut
Lebanon
Tel: (961-9)
947148 / 957002 / 940337 / 947149
Fax: (961-1) 880602
· Unipak Sal
Halat Main Street
Halat
PO Box: 226308
Beirut
Lebanon
Tel: (961-9)
957001 / 880701 / 947114
Fax: (961-1)
914922
· National Paper
Company Ltd (NAPCO)
Street No. 404
Industrial Estate,
Phase 4
PO Box: 30263
Jeddah 21477
Saudi Arabia
Tel: (966-2)
6370757
Fax: (966-2)
6374886
· Badypak Limited
Dammam – Al Khobar
Highway
Industrial Area
Dammam 31411
Saudi Arabia
Tel: (966-3)
8573256
C.R.No. 2050009725
· United Packaging
Company Ltd
First Industrial City
PO Box: 4711
Dammam 31412
Saudi Arabia
Tel: (966-3)
8575275
C.R.No. 2050007318
· Safaripak Ltd
Jeddah Industrial
Zone
PO Box: 4270
Jeddah 21482
Saudi Arabia
Tel: (966-2)
6362087
C.R.No. 4030007391
· National Paper
Products Co
Dammam Old
Industrial Estate
PO Box: 538
Dammam 31421
Saudi Arabia
Tel: (966-3)
8578685
C.R.No. 2050000435
· Carlton Al Moaibed
Hotel
Dammam – Al Khobar
Highway
PO Box: 1235
Dammam 31452
Saudi Arabia
Tel: (966-3)
8575455
C.R.No. 2050004543
· Napco Modern
Plastics Products Company
First
Industrial City
PO Box:
206
Dammam 31411
Saudi
Arabia
Tel:
(966-3) 8578685 / 8576688 / 8579276 / 8571222
Fax:
(966-3) 8574620 / 8571918
· Eastern Company
for Carton Industry
Dammam
Saudi
Arabia
Activities: Engaged in the manufacture of various consumer products and confectionery
snacks, tissue products,
sanitary napkins, paper bags, aluminium foil and cling film, baby
diapers, trash bags, food stock bags and sandwich bags.
Major
Product Lines
- Aluminium foil for catering and
household use
- Nappies
- Liquid soap
- Medical clinic sheets
- Disposable plastic bags
- Medical underpads
- Tissues
- Paper cups
- Cling film
- Table covers
- Cotton disposables
- Toilet seat covers
- Sanitary towels
- Wet wipes
Import Countries: United States of America and Europe.
Clients:
· New National
Marketing & Trading LLC, Dubai, United Arab Emirates
Export Countries: United Arab Emirates
Brand Names: SANITA, FAM, DREAMS, BAMBI and CLUB
Operating Trend: Steady
Subject has a workforce of approximately 500 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 550,000,000 SR 600,511,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Abdul Illah, Financial Controller
·
Saudi American Bank
PO Box: 3113
Dammam 31471
Tel: (966-3)
8337171
·
National Commercial Bank
PO Box: 13
Dammam 31411
Tel: (966-3)
8331188
Fax: (966-3)
8336058
·
Arab National Bank (ANB)
King Street
PO Box: 18
Dammam 31411
Tel: (966-3)
8323440
Fax: (966-3)
8337829
No complaints regarding subject’s payments have been reported.
Credit amount 250,000 200,000
Amount overdue 0 0
Payment terms 60
days 60
days
Payment Method Letters
of Credit Letters
of Credit
Paying record No
Complaints No Complaints
Currency Deutsch
Marks Euros
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.66.57 |
|
UK Pound |
1 |
Rs.103.34 |
|
Euro |
1 |
Rs.88.16 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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 |
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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 |
|
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.