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Report Date : |
18.06.2014 |
IDENTIFICATION DETAILS
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Name : |
AL OTHMAN AGRICULTURAL PRODUCING & PROCESSING CO (NADA) |
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|
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Registered Office : |
Al Hofuf, Al
Jaran Area, P O Box 1065, Al Hasa 31982 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2013 |
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Year of Establishment : |
1990 |
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Com. Reg. No.: |
2250022001, Al Hasa |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the
production of dairy products, including milk, cheese and yoghurt. |
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No of Employees : |
640 (Approximately) |
RATING & COMMENTS
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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 |
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Payment Behaviour : |
Regular |
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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 : AL OTHMAN AGRICULTURAL PRODUCING & PROCESSING CO
(NADA)
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 1990
Commercial Registration Number : 2250022001, Al Hasa
Chamber Membership Number : 1666
Issued Capital : SR 20,033,000
Paid up Capital : SR 20,033,000
Total Workforce : 640
Activities : Producers of dairy products.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
AL OTHMAN AGRICULTURAL PRODUCING &
PROCESSING CO (NADA)
Registered &
Physical Address
Location : Al Hofuf, Al Jaran Area
PO Box : 1065
Town : Al Hasa 31982
Country : Saudi Arabia
Telephone : (966-3) 5331133 / 5320000
Facsimile : (966-3) 5331505 / 5323335 / 5324410
Email : nada@alothman.com / nada@nadadairy.com / riyash@nadadairy.com
Premises
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Al Hasa.
Branch Office (s)
Location Description
·
Taba Complex Office
premises
Prince Sultan Street
PO Box: 402
Al Khobar 31952
Tel: (966-3) 8875000
Fax: (966-3) 8825173
Subject also has distribution outlets located in Riyadh, Jeddah, Dammam
and Manama, Bahrain.
Name Position
·
Mohamed
Abdullah Al Othman Managing
Partner
·
Abdullah
Mohamed Abdullah Al Othman Partner
·
Abdulmohsen
Mohamed Abdullah Al Othman Partner
·
Kumar
Danada Production
Manager
·
Hosni Mubarak Sales
Manager
·
Bakheet Al Zahrani Administration
Manager
·
Hamd Al
Shoshan Human
Resources Manager
·
Waleed
Nasser Accounts
Manager
·
Hussain
Zain Al Abdin Personnel
Manager
Date of Establishment : 1990
History :
Subject was established in
1990 as the Sole Proprietorship of Mr Mohamed Abdullah Al
Othman trading as “Al Othman Agricultural
Producing & Processing Est (Nada)” under
commercial registration number
2051001261.
At the start of 2002 subject re-registered as
a Limited Liability Partnership with the addition of Mr Mohamed Abdullah Al
Othman’s two sons, Abdullah and Abdulmohsen, and Al Othman Holding Co
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 2250022001,
Al Hasa
Membership No. : 1666
Issued Capital : SR 20,033,000
Paid up Capital : SR 20,033,000
Name of Partner (s) Percentage
·
Al
Othman Holding Co 90%
Al Khobar
·
Mohamed
Abdullah Al Othman 10%
Subject belongs to the Al Othman
group of companies that consists of the following concerns:
·
Nada
Dairy
·
Nada
International School
·
Nada
Farm Village
·
Al
Othman Plastic Products
·
SAAF
Advanced Fabrics
·
Al
Othman Ultrapak
·
United
Steel Grating
·
Systems
of Strategic Business Solutions
·
Al Othman
Industrial Marketing Company
·
Industrial
Material Supply
·
Clean
Environment Technologies
·
Gas
& Oil Technologies
·
AMO
& Partners Engineering Co
·
Al
Othman Travel & Tours
·
Mohammed
Abdullah Al Othman Contracting and Trading Est
·
Gulf
Desert Chemical Co
·
United
Steel Grating (USG)
·
Takween
Advance Industries
·
Al
Othman Plastic Products
·
Al
Riyadha Aloula
Activities: Engaged in the production of dairy
products, including milk, cheese and yoghurt.
Subject is ISO 9001 and HCAP accredited.
Import
Countries: Europe and the
United States of America.
Export Countries: Bahrain, Qatar, United Arab Emirates and Kuwait
Brand Names: NADA
Operating Trend: Steady
Subject has a
workforce of approximately 640 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 724,327,000 SR 782,300,000
Local sources
consider subject’s financial condition to be Good.
The above figures were provided by Mr. Waleed Nasser, Accounts Manager
·
National
Commercial Bank
Al Baladiyah Street
Al Hasa
Tel: (966-3) 8331188
Fax: (966-3) 8330311
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.60.37 |
|
|
1 |
Rs.102.48 |
|
Euro |
1 |
Rs.81.87 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
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.