|
Report Date : |
22.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
RADWA CHICKEN POULTRY & FINE FOODS COMPANY |
|
|
|
|
Registered Office : |
Hamad Al Jasir Street, Al Naseem Area, PO Box : 5484, Jeddah 21422 |
|
|
|
|
Country : |
Saudi Arabia |
|
|
|
|
Date of Incorporation : |
12.06.2011 |
|
|
|
|
Com. Reg. No.: |
4030213538, Jeddah |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Subject is engaged in the import and distribution of fresh and frozen
chicken and general food products. |
|
|
|
|
No. of Employees : |
12 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
No complaints |
|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Saudi Arabia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
SAUDI ARABIA - ECONOMIC OVERVIEW
Saudi Arabia has an oil-based
economy with strong government controls over major economic activities. It
possesses about 16% 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 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 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 :
RADWA CHICKEN POULTRY & FINE FOODS COMPANY
Country of Origin :
Saudi Arabia
Legal Form :
Limited Liability Company
Registration Date :
12th June 2011
Commercial Registration Number :
4030213538, Jeddah
Chamber Membership Number :
158326
Issued Capital :
SR 500,000
Paid up Capital :
SR 500,000
Total Workforce :
12
Activities :
Distributors of fresh and frozen chicken and general food products
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
RADWA CHICKEN POULTRY & FINE FOODS COMPANY
Registered &
Physical Address
Street : Hamad Al
Jasir Street
Area : Al Naseem
Area
PO Box : 5484
Town : Jeddah 21422
Country : Saudi Arabia
Telephone : (966-2) 6561028
/ 6672032 / 6607309
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Jeddah.
Name Position
Ahmed Khaled Managing
Director
Al Shareef Mohamed Khaled Director
Amer Odeh Logistic
Manager
Date of Establishment : 10/07/1432 Hijri (corresponding to 12th
June 2011)
Legal Form : Limited Liability
Company
Commercial Reg. No. : 4030213538, Jeddah
Chamber Member No. : 158326
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Name of
Shareholder (s)
Ahmed Khaled
Al Shareef Mohamed Khaled
Activities: Engaged in the import and
distribution of fresh and frozen chicken and general food products. Subject
also provides restaurant management and meat processing services.
Import Countries: Europe
and the Far East
Subject has a workforce of 12 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
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.
Please note that we were unable to make direct contact with the subject
during the course of this investigation.
According to local sources, subject meets its payment obligations in a
timely manner and the company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.34 |
|
|
1 |
Rs.101.41 |
|
Euro |
1 |
Rs.83.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NNA |
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.