|
Report Date : |
08.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
GOLDEN LINE FACTORY |
|
|
|
|
Registered Office : |
Jeddah Industrial Area, Phase 5, PO Box : 20728, Jeddah 21465 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
18.03.1990 |
|
|
|
|
Com. Reg. No.: |
4030070276, Jeddah |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Subject is engaged in the manufacture and printing of cartons,
boxes, containers and other packaging materials. |
|
|
|
|
No. of Employees : |
100 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Saudi Arabia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
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 :
GOLDEN LINE FACTORY
Country of Origin :
Saudi Arabia
Legal Form :
Sole Proprietorship
Registration Date :
18th March 1990
Commercial Registration Number :
4030070276, Jeddah
Chamber Membership Number :
33643
Invested Capital :
SR 5,590,000
Total Workforce :
100
Activities :
Manufacturers and printers of cartons, boxes, containers and other
packaging materials.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Bader Ba Abad, Administration Manager
GOLDEN LINE
FACTORY
Registered &
Physical Address
Location : Jeddah
Industrial Area, Phase 5
PO Box : 20728
Town : Jeddah 21465
Country : Saudi Arabia
Telephone : (966-12)
6081414 / 6081310 / 6081314
Facsimile : (966-12)
6081200
Email : info@golden-line.com
/ bader@golden-line.com
Premises
Subject operates from a medium sized suite of offices and a warehouse
that are owned and located in the Industrial Area of Jeddah.
Name Position
Abdul Karim Abdullah Bin Laden Proprietor
& General Manager
Sultan Abdullah Bin Laden Assistant
General Manager
Mohamed Ba Jabaa Financial
Controller
Bader Ba Abad Administration
Manager
Abdul Karim Al Bonni Factory
Manager
Date of Establishment : 21/08/1410 Hijri (corresponding to 18th
March 1990)
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 4030070276, Jeddah
Chamber Member No. : 3643
Invested Capital : SR 5,590,000
Mr Abdul Karim Abdullah Bin Laden is the sole proprietor of the business.
Activities: Engaged in the manufacture
and printing of cartons, boxes, containers and other packaging materials.
Import Countries: Europe
and the Far East.
International
Suppliers:
Morem Paper South
Korea
Daewoo Chemicals South Korea
Rassoon France
Operating Trend: Steady
Subject has a workforce of 100 employees.
Financial highlights provided by local sources are given below:
Currency: Saudi Riyals (SR)
Year Ending 31/12/12: Year Ending 31/12/13:
Total Sales SR
24,325,000 SR
25,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Bader Ba Abad, Administration
Manager
Arab National Bank
Madinah Road
PO Box: 9463
Jeddah 21413
Tel: (966-12) 6600272
Fax: (966-12) 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 business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.32 |
|
|
1 |
Rs.101.78 |
|
Euro |
1 |
Rs.84.68 |
INFORMATION DETAILS
|
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.