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Report Date : |
23.06.2014 |
IDENTIFICATION DETAILS
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Name : |
AL AUJAN INDUSTRIES CO |
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Registered Office : |
Dammam – Al Khobar Highway, Bridge Street, Al Rakah, 2nd Industrial Area, PO Box : 990, Dammam 31421 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
27.12.1981 |
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Com. Reg. No.: |
2050002697, Dammam |
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Legal Form : |
Saudi Joint Stock Company |
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Line of Business : |
Subject’s operations are performed through the following divisions : ·
Al
Aujan Soft Drinks Industry Division ·
General
Trading Division |
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No. of Employees : |
1,500 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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 AUJAN INDUSTRIES CO
Country of Origin :
Saudi Arabia
Legal Form :
Saudi Joint Stock Company
Registration Date :
27th December 1981
Commercial Registration Number :
2050002697, Dammam
Chamber Membership Number :
800
Issued Capital :
SR 300,000,000
Paid up Capital :
SR 300,000,000
Total Workforce :
1,500
Activities :
Subject operates several divisions (see below for details)
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Hussain Abdin, Financial Controller
AL AUJAN
INDUSTRIES CO
Registered &
Physical Address
Street : Dammam – Al
Khobar Highway, Bridge Street
Area : Al Rakah, 2nd
Industrial Area
PO Box : 990
Town : Dammam 31421
Country : Saudi Arabia
Telephone : (966-3) 8570777
/ 8570666
Facsimile : (966-3)
8577923 / 8573226
Email : aujan@aujan.com.sa
/ saleem.yahya@aujan.com.sa
Premises
Subject operates from a large suite of offices that are owned and
located in the Industrial Area of Dammam.
Branch Office (s)
Location Description
PO Box: 16458 Sales
Office & Distribution Centre
Riyadh 11464
Tel: (966-1) 2436120 / 2436047
Fax: (966-1) 2436051
PO Box: 6332 Sales
Office & Distribution Centre
Jeddah 21442
Tel: (966-2) 2270088 / 2270065 / 2270049
Fax: (966-2) 2271035
PO Box: 147 Sales
Office & Distribution Centre
Khamis Mushait
Tel: (966-7) 2330003 / 2330576
Fax: (966-7) 2330589
Subject also operates distribution centres in the following cities; Al
Khobar, Mecca, Madinah, Tabuk, Abhar, Jizan, Buraidah and Najan.
Name Position
Adel Abdul Rahman Abdulatif Al Aujan Chairman
Adnan Abdul Rahman Abdulatif Al Aujan Vice
Chairman
Telal Adel Abdul Rahman Abdulatif Al Aujan Director
Ms Fareeda Abdul Rahman Abdulatif Al Aujan Director
Misheal Al Kadeeb General
Manager
Hussain Abdin Financial
Controller
Hussain Ba Hussain Factory
Manager
Date of Establishment : 30/02/1402 Hijri (corresponding to 27th
December 1981)
History : Subject’s
operations date back to 1905, however it was registered in 1981 under the name
of “Abdul Wahab Aujan & Brothers Co”.
In January 2000 subject changed its name to
the current style of “Al Aujan Industries Co”
Legal Form : Saudi Joint Stock
Company
Commercial Reg. No. : 2050002697, Dammam
Chamber Member No. : 800
Issued Capital : SR 300,000,000
Paid up Capital : SR 300,000,000
Name of
Shareholder (s) Percentage
Adel Abdul Rahman Abdulatif Al Aujan 25%
Adnan Abdul Rahman Abdulatif Al Aujan 25%
Telal Adel Abdul Rahman Abdulatif Al Aujan 25%
Fareeda Abdul Rahman Abdulatif Al Aujan 25%
Aujan Industries Co JSC
PO Box: 116495
Dubai
United Arab Emirates
Tel: (971-4) 8853555
Fax: (971-4) 8853377
Al Ansari & Aujan Company WLL
PO Box: 5721
Doha
Qatar
Tel: (974) 44601230
Fax: (974) 44602026
Saleh & Aujan Trading Co Ltd
PO Box: 912
Aden
Yemen
Tel: (967-2) 356991
Fax: (967-2) 356994
Al Aujan & Oasis
PO Box: 25450
Dubai
United Arab Emirates
Tel: (971-4) 8853444
Fax: (971-4) 8853300
Aujan Beverages Co WLL
PO Box: 29
Safat 13001
Kuwait
Tel: (965) 24334460
Fax: (965) 24334470
Aujan Trading Co WLL
PO Box: 59
Manama
Bahrain
Tel: (973-17) 700940 / 700941
Fax: (973-17) 700974
Teejan & Aujan Marketing Co LLC
Teejan House
PO Box: 1829, Ruwi 112
Muscat
Oman
Tel: (968) 24594641
Fax: (968) 24501752
National Fruit Juice Co Ltd
Street No. 8
Sahab Industrial City
PO Box: 70
Amman 11512
Jordan
Tel: (962-6) 4029950
Fax: (962-6) 4029102
Rani Company for Imports
Al Sarag Mall, No. 2, 11th Floor
Makram Obeid Street
Nasr City
Cairo
Egypt
Tel: (20-2) 26708692 / 22723004
Fax: (20-2) 35365710 / 22757952
Rani for Trading & Industry SAE
Al Sarag Mall, No. 2, 11th Floor
Makram Obeid Street
Nasr City
Cairo
Egypt
Tel: (20-2) 26708692 / 22723004
Fax: (20-2) 35365710 / 22757952
Activities: Subject’s
operations are performed through the following divisions:
Al Aujan Soft
Drinks Industry Division
Location: 2nd Industrial City
PO
Box: 990
Dammam
31421
Tel: (966-3) 8121079 / 8121515 /
8430900
Fax:
(966-3) 8122228 / 8432612
Activity: Production
of soft drinks and fruit juices, such as apple and mango under the brand name
of “Rani”. Subject currently has a production capacity of 250 million litres
per annum. The production facilities cover an area of 70,000 square metres.
The division also operates a fleet of 300
vehicles that call on more than 27,000 outlets a week, including 100% coverage
of supermarkets and wholesalers and 70% coverage of all retail outlets in GCC
countries. Company-owned coolers are placed in 80% of all outlets.
General Trading Division
Engaged in the import and distribution of
the raw materials necessary for the production of soft and fizzy
drinks, as well as distributing bottled
fizzy drinks.
Import Countries: United
Kingdom and Switzerland
International Suppliers:
Vimto United
Kingdom
Britvic United
Kingdom
Tetra Pak Plastics Switzerland
United Arab Can
Manufacturing Co Ltd (Uacan) Saudi
Arabia
Export Countries: Kuwait,
Bahrain, Qatar, United Arab Emirates and Oman
Brand Names: VIMTO,
LIPTON ICE TEA, HANI, BARBICAN & RANI
Operating Trend: Steady
Subject has a workforce of approximately 1,500 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 Sales SR
2,710,000,000 SR
2,935,000,000
Local sources consider subject’s financial condition to be Good.
The above financial figures are based on estimations by our local
sources.
Saudi British Bank
PO Box: 1618
Dammam 31411
Tel: (966-3) 8331553
Saudi American Bank
PO Box: 3113
Dammam 31471
Tel: (966-3) 8337171
National Commercial Bank
PO Box: 13
Dammam 31411
Tel: (966-3) 8331188
Fax: (966-3) 8336058
Arab National Bank (ANB)
King Street
PO Box: 18
Dammam 31411
Tel: (966-3) 8323440
Fax: (966-3) 8337829
No complaints regarding subject’s payments have been reported.
Al Aujan Industries Co is an old and well-established business, trading
since 1905 with nothing detrimental heard regarding the manner in which payment
obligations are conducted.
Subject is the largest producer and distributor of soft drinks and fruit
juices in Saudi Arabia with a production capacity of 250 million litres per
annum supplying more than 27,000 outlets.
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.60.28 |
|
|
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.82.12 |
INFORMATION DETAILS
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Analysis Done by
: |
SUM |
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Report Prepared
by : |
NNA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.