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Report Date : |
20.02.2014 |
IDENTIFICATION DETAILS
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Name : |
QOOT AL YAWM CO LTD |
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Formerly Known as: |
AHMED ZAINY FOOD SUPPLY & SERVICES CO LTD |
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Registered Office : |
OZCO Building, Qalb
Al Jazirah Street, Al Khalidya Area, P O Box 6319, Jeddah 21442 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
25.10.1994 |
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Com. Reg. No.: |
4030107003, Jeddah |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the
import, distribution and supply of general foodstuffs, including fresh and
frozen food, canned foods, fruit and vegetables, poultry, rice, and dairy
products such as cheese. |
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No. of Employees : |
90 |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 : QOOT AL YAWM CO LTD
Previously Known As : AHMED ZAINY FOOD SUPPLY & SERVICES CO LTD
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 25th October 1994
Commercial Registration Number : 4030107003, Jeddah
Chamber Membership Number : 55263
Issued Capital : SR 10,000,000
Paid up Capital : SR 10,000,000
Total Workforce : 90
Activities : Distribution and supply of general foodstuffs.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Jacoub Thomas, Commercial Manager
QOOT AL YAWM CO LTD
Registered &
Physical Address
Building : OZCO Building
Street : Qalb Al Jazirah Street
Area : Al Khalidya Area
PO Box : 6319
Town : Jeddah 21442
Country : Saudi Arabia
Telephone : (966-12) 6064982 / 6063488
Facsimile : (966-12) 6063468
Mobile : (966-50) 9091465 / 3653837
Email : purchase@azfss.com.sa / info@azfss.com.sa / purchase@qoot-alyawm.com
Please note that
subject’s previous address was, Abbar & Zainy Building, Prince Sultan
Street, Al Hindawiya District, Jeddah.
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Suburban Business Area of Jeddah.
Branch Office (s)
Location Description
·
Al
Kharj Road Office
& warehouse premises
PO Box: 15356
Riyadh 11444
Tel: (966-1) 4980875
Fax: (966-1) 4980930 / 2940761
·
Dammam-Khobar
Highway Office
& warehouse premises
PO Box: 38977
Al Khobar 31932
Tel: (966-3) 8870514 / 8825937
Fax: (966-3) 8825938
Name Position
·
Sheikh Osama Ahmad Abbas Zainy Mutawkil Managing
Partner
·
Ahmad Osama Ahmad Abbas Zainy Mutawkil Partner
·
Mohamed
Abu Jadayel General
Manager
·
Jacoub
Thomas Commercial
Manager
·
Abdullah
Jacklub Finance
Manager
·
Joseph
Thomas Logistics
Manager
Date of Establishment : 20/05/1415
Hijri (corresponding to 25th October 1994)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 4030107003,
Jeddah
Chamber Member No. : 55263
Issued Capital : SR 10,000,000
Paid up Capital : SR 10,000,000
Name of Partner
(s)
·
Sheikh Osama Ahmad Abbas Zainy Mutawkil
·
Ahmad Osama Ahmad Abbas Zainy Mutawkil
Activities: Engaged in the import, distribution and
supply of general foodstuffs, including fresh and frozen food,
canned foods, fruit and vegetables,
poultry, rice, and dairy products such as cheese.
Import
Countries: United States of
America, Canada, Australia, Spain and Turkey
International
Suppliers:
·
Butter
Bowl Turkey
·
USA
Beef United
States of America
·
Healthy
Choice United States
of America
·
Sara
Lee United
States of America
·
Sara
Lee Australia
·
Maple
Leaf Canada
·
Cavendish
Farms Corp Canada
·
Puratos Spain
Brand Names: LILAC,
PARTY, TUXFORD & TEBBUTT, ABOU ASHARI,
YORK, USDA CHOICE, BUNGE, AL
HAFLA, STAR YEAST, LAMB WESTON,
DANA, BACKALDRIN, FRI-DOR and ECKRICH
Operating Trend: Steady
Subject has a
workforce of 90 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 Revenue SR 96,250,000 SR 98,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Jacoub Thomas, Commercial Manager
·
National
Commercial Bank
Al Balad Branch
King Abdulaziz Street
PO Box: 5066
Jeddah 21422
Tel: (966-12) 6434777
Fax: (966-12) 6441686
·
Saudi
American Bank
Andalous Street
PO Box: 490
Jeddah 21411
Tel: (966-12) 6533555
·
Al Bank
Al Saudi Al Fransi
Al Sharafiya Branch
Madinah Road
PO Box: 7888
Jeddah 21472
Tel: (966-12) 6605863
No complaints
regarding subject’s payments have been reported.
Amount overdue 0 0 0
Payment terms 90
days 60
days 60
days
Payment Method Letters
of Credit Letters
of Credit Letters
of Credit
Paying record No
Complaints No Complaints No Complaints
Currency US
Dollars Canadian
Dollars Canadian Dollars
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.62.12 |
|
|
1 |
Rs.103.93 |
|
Euro |
1 |
Rs.85.17 |
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 |
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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 |
-- |
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.