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Report Date : |
11.09.2013 |
IDENTIFICATION DETAILS
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Name : |
THE NATIONAL TITANIUM DIOXIDE COMPANY LTD (CRISTAL) |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
31.10.1988 |
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Com. Reg. No.: |
4030062296 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Production of titanium dioxide |
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No. of Employees : |
750 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 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.
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Source
: CIA |
Company Name :
THE NATIONAL TITANIUM DIOXIDE COMPANY LTD (CRISTAL)
Country of Origin :
Saudi Arabia
Legal Form :
Limited Liability Company
Registration Date :
31st October 1988
Commercial Registration Number :
4030062296, Jeddah
Membership Number :
30646
Issued Capital :
SR 2,362,500,000
Paid up Capital :
SR 2,362,500,000
Total Workforce :
750
Activities :
Production of titanium dioxide
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
THE NATIONAL TITANIUM DIOXIDE COMPANY LTD (CRISTAL)
Registered &
Physical Address
Building : King Road
Tower, 16th Floor
Street : King Road
PO Box : 13586
Town : Jeddah 21414
Country : Saudi Arabia
Telephone : (966-2) 2248000
/ 2248227 / 6519883
Facsimile : (966-2)
6069087
Email : info@cristal.com
Please note that subject’s previous address was, Future Tower. 9th &
10th Floors, Al Amanah Al Jaadeed Street, West Bagdadeyaah, 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 Road, Kilo 31 Owned
factory premises
PO Box: 30320
Yanbu
Tel: (966-4) 3212799 / 3212831
Fax: (966-4) 3960541 / 3960343
Name Position
Dr Talal Bin Ali Al Shair Chairman
Jamal H Nahas President
Omar Najjar Human
Resources Manager
Abdulla Ibrahim Finance
Manager
Fahd Nakshabandi Public
Relations Manager
Graham Swans Operations
Manager
Thomas Van Valkenburgh Supply
Chain Manager
Mark Stoll Commercial
Manager
Sam Livingston Technical
Manager
Dr Fadi Tabzuni Strategy
Manager
Date of Establishment : 20/03/1409 Hijri
(corresponding to 31st October 1988)
Legal Form : Limited Liability
Company
Commercial Reg. No. : 4030062296,
Jeddah
Membership No. : 30646
Issued Capital : SR 2,362,500,000
Paid up Capital : SR 2,362,500,000
Name of Partner
(s) Percentage
National Industrialisation Company (NIC) 66%
Sitteen Street
PO Box: 26707
Riyadh 11496
Saudi Arabia
Tel: (966-1) 4770898
Fax: (966-1) 4770898
Gulf Investments Corporation 33%
Ahmed Al Jaber Street
PO Box: 3402
Safat
Kuwait
Tel: (965) 22431911
Fax: (965) 22448894
Talal Ibn Ali Al Shair 1%
Al Shairco Company
PO Box: 13586
Jeddah 21414
Tel: (966-2) 6530104
Activities: Subject is engaged in the
production of titanium dioxide, which is a white powder used as an exceptionally
opaque white pigment in paint. It is also used as a raw material that enters
into several chemical industries such as paper and textiles to give them bright
and sparkling colours.
Subject began production in June 1992 with a
production capacity of 70,000 metric tonnes per annum.
In 2002, subject increased the original TiO2 production capacity a year to 100,000 metric tonnes – in line with a projected annual rise in world demand of around 3% to 2005. This expansion makes Cristal the largest, privately owned chemical company in Saudi Arabia.
Subject is ISO 9002 certified.
Production Capacity : 120,000 metric
tonnes per annum of titanium pigment
12,000 metric tonnes per annum of caustic soda
Import Countries: United
Kingdom, Germany and the United States of America
Brand Names: CRISTAL
Operating Trend: Steady
Subject has a workforce of approximately 750 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
9,331,262,000 SR 7,755,067,000
Local sources consider subject’s financial condition to be Good.
The above financial figures are based on estimations by our local
sources.
United Saudi Bank
Al Hamra
PO Box: 8673
Jeddah 21492
Tel: (966-2) 6601185
Fax: (966-2) 6673617
Al Rajhi Banking & Investment Corporation
Al Mahjar Road
Jeddah
Tel: (966-2) 6377810
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.64.21 |
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|
1 |
Rs.100.82 |
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Euro |
1 |
Rs.85.21 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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.