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Report Date : |
05.03.2014 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
2nd Industrial Area, 101 Riyadh 11383 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
20.11.1995 |
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Com. Reg. No.: |
1010139144, Riyadh |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the manufacture of snack foods. |
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No of Employees : |
Approximately 225 |
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 – december 01, 2013
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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Saudi Arabia |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
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.
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Source
: CIA |
Company Name : DALMAZA FOOD INDUSTRIES CO
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 20th November 1995
Commercial Registration Number : 1010139144, Riyadh
Chamber Membership Number : 194398
Issued Capital : SR 149,500,000
Paid up Capital : SR 149,500,000
Total Workforce : 225
Activities : Manufacturers of snack foods.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Shumail Ahmed, Financial Controller
DALMAZA FOOD INDUSTRIES CO
Location : 2nd
Industrial Area
PO Box : 101
Town : Riyadh 11383
Country : Saudi Arabia
Telephone : (966-11)
2650075
Facsimile : (966-11)
2650058
Mobile : (966-50)
3118102
Email : info@marami.com.sa
Subject operates from a large suite of offices and a factory that are
owned and located in the Industrial Area of Riyadh.
Name Position
·
Abdullah Sulaiman
Al Rajhi Managing
Partner
·
Khalid Sulaiman Al Rahji Partner
·
Ahmed Sulaiman Al Rajhi Partner
·
Faisal Sulaiman Al Rajhi General
Manager
·
Fahd Sulaiman Al Rajhi Operations
Manager
·
Shumail Ahmed Financial
Controller
·
Ayman Hussain Administration
Manager
·
Qassim Al Subai Production
Manager
·
Mahmoud Ghani Commercial
Manager
Date of
Establishment : 26/06/1416 Hijri (corresponding to 20th November 1995)
History : Subject was
originally established in 1995 under the name of Dalmaza Snack
Food Factory, however in June 2010 it
re-registered under the current style of “Dalmaza Food Industries Co”.
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 1010139144, Riyadh
Chamber Member No. : 194398
Industrial Licence No. : 184/S
Issued Capital : SR 149,500,000
Paid up Capital : SR 149,500,000
·
Abdullah Sulaiman
Al Rajhi 50%
·
Khalid Sulaiman Al Rahji 25%
·
Ahmed Sulaiman Al Rajhi 25%
·
Gulf Packaging Industries Ltd
·
Mada Carpet Company Ltd
·
Mada Nonwovens Company Ltd
·
Triomada Plastic International Co
·
Mattex
·
Gulf Farabi Petrochemical Co
·
Greenvision International
·
Tameer Holding
·
Injaz Development Company
·
The Land Real Estate Investment & Development
Co
·
Tamkeen Real Estate Development Co
·
Al Rajhi Contracting Company Limited
·
Al Rajhi Building Solutions Investments
·
AEP Investment Management Pte Ltd
Activities: Engaged in the manufacture of snack foods.
Import Countries: Netherlands and the United States of America
Brand Names: MARAMI & DALMAZA
Operating Trend: Steady
Subject has a workforce of approximately 225 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 61,195,000 SR
65,500,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Shumail Ahmed, Financial
Controller
·
National Commercial Bank
Malaz Branch
PO Box: 42536
Riyadh 11551
Tel: (966-11)
4776450
Fax: (966-11)
4769502
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 61.90 |
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|
1 |
Rs. 103.25 |
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Euro |
1 |
Rs. 85.13 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
RATING EXPLANATIONS
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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.