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Report Date : |
05.06.2014 |
IDENTIFICATION DETAILS
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Name : |
AL AMOUDI
BEVERAGE INDUSTRIES CO LTD (ABI) |
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Registered Office : |
Elysee's Printemp
Building, 5th Floor, Middle East Shopping Center, Palestine
Street, Bani Malik District, P O Box
7270, Jeddah 21462 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2013 |
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Year of Establishment : |
1982 |
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Com. Reg. No.: |
4030060223, Jeddah |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
· Engaged in the production, processing and marketing of soft drinks, juices, nectar and mineral water. ·
Subject has a licensing agreement with Crown
Cola of the USA. |
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No of Employees : |
250 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – 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 |
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Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate 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 : AL AMOUDI BEVERAGE INDUSTRIES CO LTD (ABI)
Doing Business As : ROYAL CROWN COLA
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Start Date : 1982
Registration Date : 26th January 1988
Commercial Registration Number : 4030060223, Jeddah
Industrial Licence Number : 222
Chamber Membership Number : 29360
Issued Capital : SR 51,000,000
Paid up Capital : SR 51,000,000
Total Workforce : 250
Activities : Production, processing and marketing of soft drinks and juices.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Ahmed Abdul Hamid, Finance Manager
AL AMOUDI BEVERAGE
INDUSTRIES CO LTD (ABI)
ROYAL CROWN COLA
Registered &
Physical Address
Building : Elysee's Printemp Building, 5th
Floor, Middle East Shopping Center
Street : Palestine Street
Area : Bani Malik District
PO Box : 7270
Town : Jeddah 21462
Country : Saudi Arabia
Telephone : (966-2) 6716414 / 6821071 / 6621202 /
6745750
Facsimile : (966-2) 6716146 / 6821407
Mobile : (966-55) 9805915
Email : info@alamoudi-bev.com / hussein_alamoudi@yahoo.com
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
·
Industrial
City, Phase 3 Owned
factory premises
Al Jumoum
Jeddah
Tel: (966-2) 5940451
Fax: (966-2) 5949104
·
Riyadh Sales
office & distribution centre
Tel: (966-1) 2430464
·
Dammam Sales
office & distribution centre
Tel: (966-3) 8573797
·
Tabuk Sales
office & distribution centre
Tel: (966-4) 4225071
Name Position
·
Hussain
Saleh Al Amoudi Managing
Partner
·
Abdullah
Saleh Al Amoudi Partner
·
Mahmoud
Saleh Al Amoudi Partner
·
Mohamed
Saleh Al Amoudi Partner
·
Yousef Ibrahim Factory
Manager
·
Ahmed
Abdul Hamid Finance
Manager
·
Majid
Al Sowayleh Marketing
Manager
Date of Establishment : Subject was
founded in 1982, but was registered on 07/06/1408 Hijri (corresponding to 26th
January 1988)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 4030060223,
Jeddah
Industrial Licence No. : 222
Chamber Member No. : 29360
Issued Capital : SR 51,000,000
Paid up Capital : SR 51,000,000
Name of Partner (s) Percentage
·
Hussain
Saleh Al Amoudi 33.33%
·
Abdullah
Saleh Al Amoudi 33.33%
·
Mahmoud
Saleh Al Amoudi 16.67%
·
Mohamed
Saleh Al Amoudi 16.67%
·
Al
Amoudi Closures Manufacturing Co
Industrial Estate, Phase 3
PO Box: 7270
Jeddah 21462
Tel: (966-2) 6372768 / 6368854
Fax: (966-2) 6375415
·
Saleh
Abdullah Al Amoudi Est
Rawda
PO Box: 19852
Jeddah 21445
Tel: (966-2) 6836879
Fax: (966-2) 6829876
CR No. 4030060233
·
Al
Amoudi United Co
Bab Mecca
PO Box: 7270 & 19852
Jeddah 21462
Tel: (966-2) 6836879
Fax: (966-2) 6829876
·
Saudi
Bottling Plant
Industrial Estate
PO Box: 7270
Jeddah 21462
Tel: (966-2) 6372768
Fax: (966-2) 6375415
CR No. 4030028355
·
Saudi
Cap Manufacturing Industries
PO Box: 8128
Jeddah
·
Saudi
Bricks Manufacturers
PO Box: 5983
Jeddah
Activities: Engaged in the production, processing and
marketing of soft drinks, juices, nectar and mineral water.
Subject has a licensing
agreement with Crown Cola of the USA.
Import
Countries: The United States
of America, Germany, Italy and France
Brand Names: RC COLA, ORANGENA, DELTA, RANCH, MIHA AL
WADI, UPPER-10, and APPLE SAYDER
Operating Trend: Steady
Subject has a
workforce of approximately 250 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 177,419,714 SR 176,561,867
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Ahmed Abdul Hamid, Finance Manager
·
Riyad
Bank
Prince Fahad Street
PO Box: 9324
Jeddah 21413
Tel: (966-2) 6513333
·
National
Commercial Bank
Industrial City Branch
PO Box: 18656
Jeddah 21425
Tel: (966-2) 6368224
·
Al Bank
Al Saudi Al Hollandi
King Abdulaziz Street
PO Box: 67
Jeddah
Tel: (966-2) 6446849
No complaints
regarding subject’s payments have been reported.
Amount overdue 0 0
Payment terms 60
days 60
days
Payment Method Letters
of Credit Letters
of Credit
Paying record No
Complaints No
Complaints
Currency Euros Euros
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.59.34 |
|
|
1 |
Rs.99.18 |
|
Euro |
1 |
Rs.80.76 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MNL |
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.