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Report Date : |
10.05.2014 |
IDENTIFICATION DETAILS
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Name : |
NASHAR MEAT COMPANY |
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Registered Office : |
King Abdulaziz Street, Al Bayaaha Square, PO Box: 16544, Jeddah 21474 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
07.11.1982 |
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Com. Reg. No.: |
4030036179, Jeddah |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Processors of a wide range of meat and meat products |
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No. of Employees : |
100 |
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 |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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 :
NASHAR MEAT COMPANY
Country of Origin :
Saudi Arabia
Legal Form :
Limited Liability Partnership
Registration Date :
7th November 1982
Commercial Registration Number :
4030036179, Jeddah
Chamber Membership Number :
12147
Issued Capital :
SR 500,000
Paid up Capital :
SR 500,000
Total Workforce :
100
Activities :
Processors of a wide range of meat and meat products
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
NASHAR MEAT COMPANY
Registered & Physical
Address
Location : King
Abdulaziz Street, Al Bayaaha Square
PO Box : 16544
Town : Jeddah 21474
Country : Saudi Arabia
Telephone : (966-12)
6440202
Facsimile : (966-12)
6364807
Email : ahaid@nashar.com
/ info@nashar.com
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
Industrial City, Phase 3 Factory
premises
Jeddah
Tel: (966-12) 6377793 / 6380097
Fax: (966-12) 6364807
Name Position
Mahmoud Mohamed Al Nashar Managing
Partner
Majid Mahmoud Mohamed Al Nashar Partner
Mohamed Mahmoud Mohamed Al Nashar Partner
Date of Establishment : 20/01/1403 Hijri
(corresponding to 7th November 1982)
Legal Form : Limited Liability
Partnership
Commercial Reg. No. : 4030036179,
Jeddah
Chamber Member No. : 12147
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Name of Partner
(s)
Mahmoud Mohamed Al Nashar
Majid Mahmoud Mohamed Al Nashar
Mohamed Mahmoud Mohamed Al Nashar
Al Nashar Trading Company
King Abdulaziz Street, Al Bayaaha Square
Jeddah
Tel: (966-12) 6440202
Fax: (966-12) 6364807
Activities: Engaged as processors of a
wide range of meat and meat products including, hamburgers, nuggets, meatballs,
hot dogs and pizza.
Import Countries: Europe
and the Far East
Brand Names: AL
JAZZAR and AL SAFEER
Operating Trend: Steady
Subject has a workforce of 100 employees.
Financial highlights provided by local sources are given below:
Currency: Saudi Riyals (SR)
Year
Ending 31/12/11: Year Ending
31/12/12:
Total Sales SR
22,700,000 SR
23,250,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
National Commercial Bank
Al Balad Branch
King Abdulaziz Street
PO Box: 5066
Jeddah 21422
Tel: (966-2) 6434777
Fax: (966-2) 6441686
No complaints regarding subject’s payments have been reported.
According to local sources, subject enjoys a good reputation for the
quality of its products with nothing detrimental uncovered regarding the manner
in which operations are conducted. As such the company is considered to be a
fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.05 |
|
|
1 |
Rs.101.65 |
|
Euro |
1 |
Rs.83.07 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.