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Report No. : |
316205 |
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Report Date : |
09.04.2015 |
IDENTIFICATION DETAILS
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Name : |
HILL METALS EST |
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Registered Office : |
Mohatat Al Karama Al Khurma Industrial Area, Block 19, P O Box: 104086, Jeddah 21331 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
07.01.1426 Hijri (Corresponding to 16th
February 2005) |
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Com. Reg. No.: |
4030153714, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject’s
operations are performed through the following divisions: ·
Scrap
Recycling and Processing Division ·
Melt
Shop and Billet Manufacturing Division ·
Rebar
Manufacturing Division |
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No. of Employees : |
400 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 : HILL
METALS EST
Country of Origin : Saudi
Arabia
Legal Form :
Sole Proprietorship
Registration Date : 16th
February 2005
Commercial
Registration Number : 4030153714,
Jeddah
Membership Number : 102771
Invested Capital :
SR 120,000,000
Total Workforce : 400
Activities :
Subject operates several divisions (see below for details)
Financial Condition : Good
Payments :
Nothing detrimental uncovered
Person Interviewed : Umer Saeed,
Finance Manager
HILL METALS EST
Location : Mohatat Al Karama Al Khurma
Industrial Area, Block 19
PO Box : 104086
Town : Jeddah 21331
Country : Saudi Arabia
Telephone : (966-2) 6359000 / 6092172 / 6678000 /
6086785-86
Facsimile : (966-2) 6085494 / 6678728
Mobile : (966-50) 3616877 / 4115370
Email : info@hillmetals.com / umer@hillmetals.com / shahid@hillmetals.com
Subject operates
from a large suite of offices and a factory that are rented and located in the
Industrial Area of Jeddah.
Name Position
·
Hussain
Mohamed Nawaz Shareef Proprietor
& General Manager
·
Shahid Iqbal Operations
Manager
·
Umer
Saeed Finance
Manager
·
Shahed
Saeed Procurement
Manager
·
Hamid Bashir Human
Resources Manager
Date of Establishment : 07/01/1426
Hijri (corresponding to 16th February 2005)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030153714,
Jeddah
Membership No. : 102771
Invested Capital
: SR 120,000,000
Mr Hussain
Mohamed Nawaz Shareef is the sole
proprietor of the business.
·
Al Aziziah Metallic Co
Jeddah
Activities: Subject’s operations are performed through
the following divisions:
·
Scrap Recycling and Processing Division
This division has an extensive
network for the collection of quality scrap throughout the Kingdom. Our scrap recycling facility is equipped with heavy duty
European standard shredders and scrap shears that provide diversification and utmost control on the
quality of the scrap. Refined scrap produced through shearing/shredding is then shifted to the melt shop through our
mobile scrap transfer facilities after weighing from the weigh scales to ensure the accuracy of the quantities.
·
Melt Shop and Billet Manufacturing Division
The state of the art steel
melt shop is equipped with three latest Induction melting furnaces and
providing the customers with the complete
metallurgical solutions. Our scrap charging process is controlled by automatic vibratory charging system. To
achieve the highest quality standards, the molten metal from the furnaces is
further refined in the ladle refining
furnace. We use multi strand Danieli Caster (CCM) to produce high quality
billets of various sizes.
·
Rebar Manufacturing Division
Through the state of the art
flexible rolling mills, we are able to deliver a complete range of product mix
to our customers. Further expansion
and value addition to this bar mill is planned to cater varying market demand.
New Projects such as wire rod and
garret coil production are in pipeline.
Import Countries: Europe and the Far East.
Local Suppliers:
·
Attieh Steel
·
Jeddah Steel Co
Operating Trend: Steady
Subject has a
workforce of approximately 400 employees.
Financial
highlights provided by local sources are given below:
Currency: Saudi
Riyals (SR)
Year
Ending 31/12/13: Year Ending
31/12/14:
Total Sales SR 450,000,000 SR 503,000,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Umer Saeed, Finance Manager
·
National
Commercial Bank
PO Box: 3555
Jeddah 21481
Tel: (966-12) 6446644
Fax: (966-12) 6446644
·
Al
Rajhi Banking & Investment Corporation
Al Mahjar Road
Jeddah
Tel: (966-12) 6377810
No complaints
regarding subject’s payments have been reported.
Please note that
the correct name of the subject is “Hill Metals Est”. The name you requested
contains part of the subject’s address.
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.33 |
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|
1 |
Rs.92.53 |
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Euro |
1 |
Rs.67.60 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
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 |
-- |
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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.