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Report Date : |
06.06.2014 |
IDENTIFICATION DETAILS
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Name : |
SOUTH SOFT DRINK
COMPANY |
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Registered Office : |
Military City Road,
P O Box 771, Khamis Mushait 61961 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
20.01.1988 |
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Com. Reg. No.: |
5855007742, Khamis Mushait |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the
production and marketing of beverages and juices. |
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No of Employees : |
105 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
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 : SOUTH SOFT DRINK COMPANY
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 20th January 1988
Commercial Registration Number : 5855007742, Khamis Mushait
Issued Capital : SR 8,480,000
Paid up Capital : SR 8,480,000
Total Workforce : 105
Activities : Production and marketing of beverages and juices
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
SOUTH SOFT DRINK COMPANY
Registered &
Physical Address
Location : Military City Road
PO Box : 771
Town : Khamis Mushait 61961
Country : Saudi Arabia
Telephone : (966-7) 2237032
Facsimile : (966-7) 2230617
Email : ssdco1@yahoo.com
Premises
Subject operates
from a medium sized suite of offices and a factory that are owned and located
in the Industrial Area of Khamis Mushait.
Name Position
·
Mohamed
Nasser Abid Managing
Partner
·
Abdullah
Ali Barkash Partner
·
Khalid
Hazim Bin Nafe Partner
·
Abdulaziz
Bin Moshkeet Partner
·
Abdullah
Babiker General
Manager
·
Abdulrahman
Abdullah Bin Shaqra Commercial
Manager
·
Mohamed
Abdul Aal Finance
Manager
Date of Establishment : 30/05/1408
Hijri (corresponding to 20th January 1988)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 5855007742,
Khamis Mushait
Issued Capital : SR 8,480,000
Paid up Capital : SR 8,480,000
Name of Partner
(s)
·
Mohamed
Nasser Abid
·
Abdullah
Ali Barkash
·
Khalid
Hazim Bin Nafe
·
Abdulaziz
Bin Moshkeet
Activities: Engaged in the production and marketing of
beverages and juices.
Import
Countries: Europe and the
Far East.
Brand Names: AHLAN WA SAHLAN
Operating Trend: Steady
Subject has a
workforce of 105 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 31,000,000 SR 34,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Riyad
Bank
King Fahd Road
Khamis Mushait 62461
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
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.30 |
|
|
1 |
Rs.99.34 |
|
Euro |
1 |
Rs.80.70 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.