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Report Date : |
22.02.2014 |
IDENTIFICATION DETAILS
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Name : |
AL HAYAT BUILDING MATERIALS CO LTD |
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Registered Office : |
Mecca Medina Express Highway, PO Box : 18053, Jeddah 21415 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
29.11.1985 |
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Com. Reg. No.: |
4030041450, Jeddah |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Subject is engaged as distributors of building materials,
hardware, power tools, decorative materials and sanitary ware products. |
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No. of Employees : |
550 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
No complaints |
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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.
|
Source
: CIA |
Company Name :
AL HAYAT BUILDING MATERIALS CO LTD
Country of Origin :
Saudi Arabia
Legal Form :
Limited Liability Partnership
Registration Date :
29th November 1985
Commercial Registration Number :
4030041450, Jeddah
Chamber Membership Number :
17875
Issued Capital :
SR 10,000,000
Paid up Capital :
SR 10,000,000
Total Workforce :
550
Activities :
Distributors of building materials, hardware, power tools, decorative
materials and sanitary ware products.
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Ahmed Medhat, Financial Controller
AL HAYAT BUILDING
MATERIALS CO LTD
Registered &
Physical Address
Location : Mecca Medina
Express Highway
PO Box : 18053
Town : Jeddah 21415
Country : Saudi Arabia
Telephone : (966-12)
6407777 / 6732322 / 6736327 / 6712380
Facsimile : (966-12)
2272727 / 6712380
Email : info@hayatbmc.com
/ hayatbma@ogertel.com
Premises
Subject operates from a large suite of offices and a warehouse that are
rented and located in the Central Business Area of Jeddah.
Branch Office (s)
Subject operates a network of 20 branches located throughout the
Kingdom, including the following:
Location Description
Riyadh Office
& warehouse premises
Tel: (966-1) 2410939
Dammam Office
& warehouse premises
Tel: (966-3) 8571688
Khamis Mushait Office
& warehouse premises
Tel: (966-7) 2237937
Al Hasa Office
& warehouse premises
Tel: (966-3) 5861311
Jizan Office
& warehouse premises
Name Position
Issam Mohamed Khairy Al Kabbani Managing
Partner
Zayad Zain Al Abdin Partner
Fawaz Hajjar General
Manager
Bassam Dalaoua Finance
Manager
Ahmed Medhat Financial
Controller
Nedal Al Obaid Sales
Manager
Basheer Mohamed Bashir Marketing
Manager
Date of Establishment : 16/03/1406 (corresponding to 29th
November 1985)
Legal Form : Limited Liability
Partnership
Commercial Reg. No. : 4030041450, Jeddah
Chamber Member No. : 17875
Issued Capital : SR 10,000,000
Paid up Capital : SR 10,000,000
Name of Partner
(s)
Issam Mohamed Khairy Al Kabbani
Zayad Zain Al Abdin
National Marketing Est
Port Road
PO Box: 16375 / 17931
Jeddah 21464
Tel: (966-12) 6475010 / 6473381
Fax: (966-12) 6474503
Commercial Registration Number: 4030006734
Engaged as wholesalers of UPVC pipes and fittings and a wide range of
items and products related to water, drainage and conduit installation
projects. Subject is also engaged in the distribution and installation of
decorative materials.
United Building Materials Co Ltd (UNITECH)
Also Known As: Issam Kabbani & Partners for Prefabricated Building
& Trading Co
Al Amin Al Aam Street
Al Azizeyyah District
PO Box: 5338
Jeddah 21422
Tel: (966-12) 6659096
Fax: (966-12) 6658079
Commercial Registration Number: 4030032842
Engaged as wholesalers and distributors of building materials, sealants,
adhesives, bitumen coatings, hardware and tools.
Issam Kabbani & Partners for Waterproofing Materials Co (BMC)
PO Box: 5338
Jeddah 21422
Tel: (966-12) 6673180
Fax: (966-12) 6658079
Commercial Registration
Number: 4030032844
BMC is an engineering and contracting company specialising in
waterproofing, damp-proofing, heat insulation and concrete repair.
Al Kabbani Co for Electric Trading
PO Box: 18033
Jeddah 21415
Tel: (966-12) 6481713
Fax: (966-12) 6478065
Distributors of electrical fittings, switchgear boards and cables.
Al Hayat Supermarket
PO Box: 16375
Jeddah 21464
Marketing Fittings Sanitary & Plumbing Co
PO Box: 16375
Jeddah
Retailers of sanitary fittings.
Issam Kabbani Co
PO Box: 16375
Jeddah 21464
Wholesalers of foodstuff.
Emam Distribution Co Ltd
PO Box: 1716
Jeddah 21441
Tel: (966-12) 6824294
Fax: (966-12) 6918227
Specialist International Marketing Group Co
PO Box: 6338
Jeddah 21422
Tel: (966-12) 6672000
Fax: (966-12) 6658079
Saudi Turkish Marine & Construction Contracting Co Ltd
PO Box: 7371
Jeddah 21462
Tel: (966-12) 6670457
Fax: (966-12) 6652473
Mahmoud Adada & Issam Kabbani & Partners Ltd
PO Box: 520
Makkah
Tel: (966-12) 5205555 / 5803056
Engaged in the production of wooden and metal furniture and kitchen
units, as well as door, windows and decorative wood.
Activities: Engaged as distributors of
building materials, hardware, power tools, decorative materials and sanitary
ware products.
Import Countries: United
Kingdom, Germany, Italy, Spain, Belgium and South Korea
International Suppliers:
Kludi Germany
Grohe Germany
AEG Electrowerkezeug GmbH Germany
Ge Plastics Europe Germany
Hawera Probst GmbH & Co Germany
Weiser United
Kingdom
Tremco Sealants United
Kingdom
Pigler United
Kingdom
Saviel Italy
Fischer Italia Srl Italy
Sangra Spain
Carlisle Syntec Systems Belgium
Seo Young South
Korea
Operating Trend: Steady
Subject has a workforce of approximately 550 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
120,000,000 SR 124,700,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Ahmed Medhat, Financial Controller
National Commercial Bank
Palestine Square
PO Box: 7161
Jeddah 21462
Tel: (966-12) 6697384
Fax: (966-12) 6697388
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.
Al Hayat Building Materials Co Ltd has operations dating back to 1984
and is engaged in the distribution of building materials, hardware and sanitary
ware products. It enjoys a good reputation for the quality of its products and
deals with a host of reputable international suppliers.
Subject is owned by members of the Kabbani family who have many years
experience in the building materials industry.
According to local sources subject’s operating history is clear with
nothing detrimental uncovered regarding the manner in payment obligations are
met. The financial position is considered to be satisfactory and the business
is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.16 |
|
|
1 |
Rs.103.44 |
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Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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 |
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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.