MIRA INFORM REPORT

 

 

Report Date :

02.07.2014

 

IDENTIFICATION DETAILS

 

Name :

MOHAMED BAWAZIR FOR TRADING (MBT)

 

 

Registered Office :

Abdel Maksoud Street (Branch of Sari Street), Al Rawda District, PO Box : 16129, Jeddah 21454

 

 

Country :

Saudi Arabia

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

09.12.1986

 

 

Com. Reg. No.:

4030059457, Jeddah

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Subject is engaged in the import and distribution of foodstuffs, personal care products, and tobacco.

 

 

No. of Employees :

250

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

Payment Behaviour :

Regular

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

SUMMARY

 

Company Name                                    : MOHAMED BAWAZIR FOR TRADING (MBT)

Country of Origin                                   : Saudi Arabia

Legal Form                                           : Limited Liability Partnership

Registration Date                                  : 9th December 1986

Commercial Registration Number           : 4030059457, Jeddah

Chamber Membership Number               : 28114

Issued Capital                                       : SR 4,000,000

Paid up Capital                                     : SR 4,000,000

Total Workforce                         : 250

Activities                                               : Import and distribution of foodstuffs, personal care products, and tobacco.

Financial Condition                                : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

Person Interviewed                                : Abdul Fadil Abu Zainah, Finance Manager

 

 

 

COMPANY NAME

 

MOHAMED BAWAZIR FOR TRADING (MBT)

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : Abdel Maksoud Street (Branch of Sari Street)

Area                 : Al Rawda District

PO Box            : 16129

Town                : Jeddah 21454

Country : Saudi Arabia

 

Telephone         : (966-2) 6989999 / 6601160

Facsimile          : (966-2) 6390033 / 6656729

Email                : mbt2000ksa@sps.net.sa / info@mbtksa.com / nedalkarmi@mbtksa.com

 

Please note that subject’s previous address was, Castillo Center, Rawda Street, Rouwais District, 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                                                                                                 Distribution depot

Tel: (966-2) 6293880

Fax: (966-2) 6294175

 

Riyadh                                                                                                  Distribution depot

Tel: (966-1) 2431766

Fax: (966-1) 2431613

 

Dammam                                                                                              Distribution depot

Tel: (966-3) 8473715

Fax: (966-3) 8473708

 

Madinah                                                                                                Distribution depot

Tel: (966-4) 8458283

 

Tabuk                                                                                                   Distribution depot

Tel: (966-4) 4219370

 

Khamis Mushait                                                                                     Distribution depot

Tel: (966-7) 2210547

 

 

KEY PRINCIPALS

 

Name                                                                                                   Position

 

Mohamed Fouzi Bawazir                                                                        Managing Partner

 

Hussam Fouzi Bawazir                                                                           Partner

 

Fouzi Mohamed Bawazir                                                                        General Manager

 

Nedal Al Karimi                                                                                     Sales Manager

 

Saad Ghanim                                                                                        Commercial Manager

           

Abdul Fadil Abu Zainah                                                                         Finance Manager

 

Abdulwahid Jazzar                                                                                 Administration Manager

 

Sadiq Nasser                                                                                        Accounts Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  :           07/04/1407 Hijri (corresponding to 9th December 1986)

 

Legal Form      :                       Limited Liability Partnership

 

Commercial Reg. No.   :           4030059457, Jeddah

 

Chamber Member No.  :           28114

 

Issued Capital              :           SR 4,000,000

 

Paid up Capital            :           SR 4,000,000

 

Name of Partner (s)

 

Mohamed Fouzi Bawazir

 

Hussam Fouzi Bawazir

 

 

OPERATIONS

 

Activities:                     Engaged in the import and distribution of foodstuffs, personal care products, and tobacco. Subject operates a fleet of 150 vehicles.

 

Import Countries:         Spain, France, Italy, India, United Kingdom and the United States of America.

 

International Suppliers:

 

Bajaj Food Ltd              India

Musharaf Tobacco        India

 

Operating Trend:          Steady

 

Subject has a workforce of approximately 250 employees.

 

 

FINANCIAL DATA

 

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 191,300,000             SR 240,800,300

 

Local sources consider subject’s financial condition to be Good.

 

The above figures were provided by Mr Abdul Fadil Abu Zainah, Finance Manager

 

 

BANKERS

 

Arab National Bank (ANB)

Madinah Road

PO Box: 9463

Jeddah 21413

Tel: (966-2) 6600272

Fax: (966-2) 6650202

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

 

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.60.14

UK Pound

1

Rs.102.83

Euro

1

Rs.82.28

 

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%)

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