MIRA INFORM REPORT

 

 

Report Date :

10.06.2014

 

IDENTIFICATION DETAILS

 

Name :

HOPE SAUDI JUICE FACTORY

 

 

Registered Office :

Hawazem Complex, Hail Street, Al Ruwais Area, P O Box 1825, Jeddah 21441

 

 

Country :

Saudi Arabia

 

 

Date of Incorporation :

10.06.1981

 

 

Com. Reg. No.:

4030030643, Jeddah

 

 

Legal Form :

Sole Proprietorship Concern

 

 

Line of Business :

Engaged in manufacturing and processing of juices

 

 

No of Employees :

120

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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

 

 

SUMMARY

 

Concern Name                                       : HOPE SAUDI JUICE FACTORY

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Sole Proprietorship

Registration Date                                   : 10th June 1981

Commercial Registration Number            : 4030030643, Jeddah

Chamber Membership Number                : 13965

Invested Capital                                     : SR 1,500,000

Total Workforce                                     : 120

Activities                                               : Manufacture and processing of juices

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

 

 

 

CONCERN NAME

 

HOPE SAUDI JUICE FACTORY

 

 

concern ADDRESS

 

Registered & Physical Address

Building             : Hawazem Complex

Street               : Hail Street

Area                 : Al Ruwais Area

PO Box             : 1825

Town                 : Jeddah 21441

Country             : Saudi Arabia

Telephone         : (966-12) 6695507 / 6316539

Facsimile          : (966-12) 6609789 / 6316667

Email                : rafaahgroup@yahoo.com / binrafaahgroup@yahoo.com

 

Premises

Subject operates from a large suite of offices and a factory that are rented and located in the Central Business Area of Jeddah.

 

Branch Office (s)

 

     Location                                                                                          Description                                                     

·       Mecca Road                                                                                     Office premises

Jeddah 21441

     Tel: (966-12) 2807300

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

·       Abdullah Abdul Khaliq Bin Rafa Al Ghamdi                                          Proprietor & General Manager

·       Jihad Mosleh                                                                                    Assistant General Manager

·       Sadiq Al Tayeb                                                                                 Financial Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 07/08/1401 Hijri (corresponding to 10th June 1981)

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.  : 4030030643, Jeddah

 

Chamber Member No. : 13965

 

Invested Capital           : SR 1,500,000

 

Mr. Abdullah Abdul Khaliq Bin Rafa Al Ghamdi is the sole proprietor of the business.

 

 

AFFILIATED COMPANIES

 

·       Bin Rafa for Trade & Industry

Jeddah

 

 

OPERATIONS

 

Activities: Engaged in the manufacture and processing of juices.

 

Subject has a workforce of 120 employees.

 

 

FINANCIAL DATA

 

Companies registered in Saudi Arabia are not legally required to make their accounts public and no financial information was released by the concern or submitted by outside sources.

 

 

BANKERS

 

·       Al Rajhi Banking & Investment Corporation

Al Mahjar Road

Jeddah

Tel: (966-12) 6377810

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Local sources report that the subject’s operating history is clear with payment obligations met in a generally timely manner. The financial position is satisfactory and the business is deemed a fair trade risk.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.59.06

UK Pound

1

Rs.99.35

Euro

1

Rs.80.62

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.