MIRA INFORM REPORT

 

 

Report Date :

24.05.2014

 

IDENTIFICATION DETAILS

 

Name :

OMAR KASEM ALESAYI MARKETING CO LTD (OKAM)

 

 

Registered Office :

Frimex Plaza, Ibrahim Al Juffali Street, Al Andalus District 8680, Jeddah 21492

 

 

Country :

Saudi Arabia

 

 

Date of Incorporation :

25.12.1999

 

 

Com. Reg. No.:

4030129147

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Engaged in the import and distribution of foodstuffs including, biscuits, wafers, potato chips, snacks, evaporated milk, full cream milk powder, flavoured milk, tomato paste, peanut butter, rice and canned peas, beans and tuna.

 

 

No of Employees :

500

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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 – September 30, 2013

 

Country Name

Previous Rating

(30.09.2013)

Current Rating

(01.12.2013)

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

 

 

SUMMARY

 

Company Name                                     : OMAR KASEM ALESAYI MARKETING CO LTD (OKAM)

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Limited Liability Company

Registration Date                                   : 25th December 1999

Commercial Registration Number            : 4030129147, Jeddah

Chamber Membership Number                : 73872

Issued Capital                                        : SR 300,000,000

Paid up Capital                                      : SR 300,000,000

Total Workforce                                     : 500

Activities                                               : Distributors of general foodstuffs.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Person Interviewed                                 : Mohamed Abu Aseshi, Financial Controller

COMPANY NAME

 

OMAR KASEM ALESAYI MARKETING CO LTD (OKAM)

 

 

company ADDRESS

 

Registered & Physical Address

 

Building             : Frimex Plaza

Street               : Ibrahim Al Juffali Street

Area                 : Al Andalus District

 

PO Box             : 8680

 

Town                 : Jeddah 21492

Country             : Saudi Arabia

 

Telephone         : (966-2) 6445121 / 6685353

Facsimile          : (966-2) 6081135 / 6436876

Mobile               : (966-50) 5699065

Email                : info@okam.com.sa / a_alarabi@okam.com.sa

 

Please note that subject’s previous address was, Alesayi Plaza, 6th Floor, Madinah Road, Baghdadiya, Jeddah.

 

Premises

 

Subject operates from a large suite of offices that are owned and located in the Central Business Area of Jeddah.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       Industrial Area, Phase No. 5                                                               Warehouse premises

     Jeddah

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Omar Kasem Alesayi                                                                        Managing Director

 

·       Abdulrahman Hayel                                                                           General Manager

 

·       Ali Ba Khalagi                                                                                   Marketing Manager

 

·       Ali Al Arabi                                                                                       Financial Manager

 

·       Ghaith Tayseer                                                                                 Administration Manager

 

·       Mohamed Abu Aseshi                                                                       Financial Controller

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 18/09/1420 Hijri (corresponding to 25th December 1999)

 

Legal Form                  : Limited Liability Company

 

Commercial Reg. No.  : 4030129147, Jeddah

 

Chamber Member No. : 73872

 

Issued Capital              : SR 300,000,000

 

Paid up Capital            : SR 300,000,000

 

Name of Partner (s)                                                                         Percentage

 

·       Omar Kasem Alesayi & Partner Co Ltd                                               50%

Jeddah

 

·       Faremex Co Ltd                                                                                50%

Jeddah

 

 

AFFILIATED COMPANIES

 

Subject is a member of the well known Alesayi Group which has operations in Saudi Arabia, the Middle East, Europe and the United States of America. The group is owned by four Saudi brothers, namely Ali Abdullah Al Esayi, Omar Kasem Alesayi, Saeed Omar Kasem Alesayi and Mohamed Omar Kasem Alesayi.

 

The Esayi Group includes the following companies:

 

·       Alesayi Trading Corporation (ATC)

     Al Esayi Building

     Makkah Road, Kilo 11

     PO Box: 1342

     Jeddah 21431

     Tel: (966-2) 6202000 / 6206384 / 6878444

     Fax: (966-2) 6206469 / 6872201

 

·       Alesayi United Co for Trading & Industry Ltd

Kaki Centre, 9th Floor

Madinah Road

PO Box: 3035

Jeddah

Tel: (966-2) 6650606 / 6694978

Fax: (966-2) 6653064

 

·       National Animal Production & Agricultural Development Co (NAPADCO)

PO Box: 6456

Riyadh 11442

Tel: (966-1) 4773660

Fax: (966-1) 4785015

 

·       Omar K Alesayi Office for Engineering & Architectural Contracting Co

Binzagr Building

Makkah Road

Kilo 5

PO Box: 2837

Jeddah 21461

Tel: (966-2) 6884121

CR No. 4030005787

 

·       Omar K Alesayi & Co Ltd

Bugshan Building

PO Box: 8361

Jeddah 21482

Tel: (966-2) 6440224

Fax: (966-2) 6445659

CR No. 4030022907

 

·       Al Tawfiq Co for Plastic & Chemical Industries Ltd

PO Box: 8680

Jeddah 21492

Tel: (966-2) 6445121 / 6445135

Fax: (966-2) 6436876

 

·       Arabian Chemical Investment Corporation

PO Box: 5958

Jeddah 21432

Tel: (966-2) 6534848

Fax: (966-2) 6530328

 

·       National Biscuit & Confectionery Factory

PO Box: 30972

Jeddah 21487

Tel: (966-2) 6360606

Fax: (966-2) 6376183

 

·       Alesayi & Al Horaibi Co Ltd

Al Mirah Bahareth Building, 2nd Floor

Gold Street

PO Box: 436

Jeddah

Tel: (966-2) 6422723

Fax: (966-2) 6444632

 

·       Alesayi Travel Agency

Madinah Road

PO Box: 9106

Jeddah 21413

Tel: (966-2) 6533716

Fax: (966-2) 6519844

CR No. 4030030430

 

·       Holker Seadly Saudi Arabia

     Jeddah

 

·       GRC Hollow Core Factor

     Jeddah

 

·       Omar K Alesayi Trading & General Contracting Est

     Jeddah

 

·       Esayi Saif Noman Douglas Ltd (ASAD)

Palestine Street

PO Box: 10180

Jeddah 21433

Tel: (966-2) 6712069

Fax: (966-2) 6720854

CR No. 4030015602

 

·       International Spare Parts Trading & Manufacturing Co Ltd

PO Box: 51482

Riyadh 11543

Tel: (966-1) 2318882

Fax: (966-1) 2315696

 

·       Omar Kasem Alesayi Textile Company Ltd

PO Box: 3035

Jeddah 21471

Tel: (966-2) 2315696

 

·       ASA Co Ltd

PO Box: 324

Osaka

Japan

 

·       Arwa Industries, Trading & Contracting Co Ltd

PO Box: 883

Sana’a

Republic of Yemen

 

·       National Company for Sponge & Plastic Industries Ltd

PO Box: 5302

Taiz

Republic of Yemen

Tel: (967-4) 210730

 

·       Arab Clothing Company

Cairo

     Egypt

 

·       Omaco International Inc

230, Park Avenue

10169 New York

United States of America

 

·       Swicorp Finance SA

9, Place de la Fusterie

CH-1204 Geneva

Switzerland

 

·       United Carton Industries Co Ltd

PO Box: 31503

Jeddah 21418

Tel: (966-2) 6375909

Fax: (966-2) 6368789

 

·       United Feed Co

Alesayi Plaza, 4th Floor

PO Box: 8680

Jeddah

 

·       Al Tawfiq for Plastic & Woven Sacks

PO Box: 32368

Jeddah 21428

Tel: (966-2) 6081040

Fax: (966-2) 6380549

 

·       National Food Industries Co Ltd

PO Box: 32040

Jeddah 21428

Tel: (966-2) 6081515

Fax: (966-2) 6367938

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of foodstuffs including, biscuits, wafers, potato chips, snacks,

                 evaporated milk, full cream milk powder, flavoured milk, tomato paste, peanut butter, rice and canned

                 peas, beans and tuna.

 

Import Countries: Europe and the Far East.

 

Subject has a workforce of approximately 500 employees.

 

 

FINANCIAL DATA

 

Companies registered in Saudi Arabia are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

 

 

BANKERS

 

·       National Commercial Bank

Al Balad Branch

King Abdulaziz Street

PO Box: 5066

Jeddah 21422

Tel: (966-2) 6434777

Fax: (966-2) 6441686

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

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. 58.48

UK Pound

1

Rs. 98.67

Euro

1

Rs. 79.80

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

DPT

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.