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Report Date : |
23.06.2014 |
IDENTIFICATION DETAILS
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Name : |
MOHAMED BAWAZIR FOR TRADING (MBT) |
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Registered Office : |
Abdel Maksoud Street (Branch of Sari Street), Al Rawda District, PO Box : 16129, Jeddah 21454 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
09.12.1986 |
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Com. Reg. No.: |
4030059457, Jeddah |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Subject is engaged in the import and distribution of foodstuffs,
personal care products, and tobacco. |
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No. of Employees : |
250 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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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 |
|
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 :
MOHAMED BAWAZIR FOR TRADING (MBT)
Country of Origin :
Saudi Arabia
Legal Form :
Limited Liability Partnership
Registration Date :
9th December 1986
Commercial Registration Number :
4030059457, Jeddah
Chamber Membership Number :
28114
Issued Capital :
SR 4,000,000
Paid up Capital :
SR 4,000,000
Total Workforce :
250
Activities :
Import and distribution of foodstuffs, personal care products, and tobacco.
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Abdul Fadil Abu Zainah, Finance Manager
MOHAMED BAWAZIR
FOR TRADING (MBT)
Registered &
Physical Address
Street : Abdel
Maksoud Street (Branch of Sari Street)
Area : Al Rawda
District
PO Box :
16129
Town : Jeddah 21454
Country : Saudi Arabia
Telephone : (966-2) 6989999
/ 6601160
Facsimile : (966-2)
6390033 / 6656729
Email : mbt2000ksa@sps.net.sa
/ info@mbtksa.com
/ nedalkarmi@mbtksa.com
Please note that subject’s previous address was, Castillo Center, Rawda
Street, Rouwais District, Jeddah.
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
Jeddah Distribution
depot
Tel: (966-2) 6293880
Fax: (966-2) 6294175
Riyadh Distribution
depot
Tel: (966-1) 2431766
Fax: (966-1) 2431613
Dammam Distribution
depot
Tel: (966-3) 8473715
Fax: (966-3) 8473708
Madinah Distribution
depot
Tel: (966-4) 8458283
Tabuk Distribution
depot
Tel: (966-4) 4219370
Khamis Mushait Distribution
depot
Tel: (966-7) 2210547
Name Position
Mohamed Fouzi Bawazir Managing
Partner
Hussam Fouzi Bawazir Partner
Fouzi Mohamed Bawazir General
Manager
Nedal Al Karimi Sales
Manager
Saad Ghanim Commercial
Manager
Abdul Fadil Abu Zainah Finance
Manager
Abdulwahid Jazzar Administration
Manager
Sadiq Nasser Accounts
Manager
Date of Establishment : 07/04/1407 Hijri (corresponding to 9th
December 1986)
Legal Form : Limited Liability
Partnership
Commercial Reg. No. : 4030059457, Jeddah
Chamber Member No. : 28114
Issued Capital : SR 4,000,000
Paid up Capital : SR 4,000,000
Name of Partner (s)
Mohamed Fouzi Bawazir
Hussam Fouzi Bawazir
Activities: Engaged in the import and distribution
of foodstuffs, personal care products, and tobacco. Subject operates a fleet of
150 vehicles.
Import Countries: Spain,
France, Italy, India, United Kingdom and the United States of America.
International
Suppliers:
Bajaj Food Ltd India
Musharaf Tobacco India
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 Sales SR
191,300,000 SR 240,800,300
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Abdul Fadil Abu
Zainah, Finance Manager
Arab National Bank (ANB)
Madinah Road
PO Box: 9463
Jeddah 21413
Tel: (966-2) 6600272
Fax: (966-2) 6650202
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.60.28 |
|
|
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.82.12 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
NNA |
RATING EXPLANATIONS
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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 |
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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 |
|
<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.