|
Report No. : |
335526 |
|
Report Date : |
06.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
SAUDI MASTERBAKER
LTD |
|
|
|
|
Registered Office : |
Street No. 76 ( |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
12.06.2000 |
|
|
|
|
Com. Reg. No.: |
2050036495 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Engaged in the production of cupcakes, rusks, pastries, tarts and
samosa leaves. |
|
|
|
|
No. of Employees : |
100 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Saudi Arabia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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, telecommuncations, 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. In 2014 the
Kingdom ran its first budget deficit since 2009, and faces budget deficits for
the foreseeable future because it requires an oil price greater than $100 per
barrel to balance its budget. Although the Kingdom can finance high deficits
for several years by drawing down its considerable foreign assets or borrowing,
it probably will begin to reduce capital spending if oil prices stay low
through the next year.
|
Source
: CIA |
Company Name : SAUDI MASTERBAKER LTD
Country of Origin : Saudi
Arabia
Legal Form : Limited
Liability Company
Registration Date : 12th
June 2000
Commercial
Registration Number :
2050036495, Dammam
Membership Number : 488
Issued Capital : SR
1,000,000
Paid up Capital : SR
1,000,000
Total Workforce : 100
Activities :
Producers of cupcakes, rusks, pastries, tarts and samosa leaves.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
SAUDI MASTERBAKER
LTD
Registered & Physical Address
Street : Street No. 76 (Abu Qaiq Road)
Area : 2nd Industrial
Area
PO Box : 7091
Town : Dammam 31462
Country : Saudi Arabia
Telephone : (966-13) 8125200
Facsimile : (966-13) 8125060
Email : info@saudi.switzgroup.com / info@switzgroup.com
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Dammam.
Branch Offices
Location Description
Jeddah Office
premises
Tel: (966-12)
6364295
Fax: (966-12)
6368630
Riyadh Office
premises
Tel: (966-11)
4712969
Fax: (966-11)
4712819
Hafr Al Batin Office
premises
Tel: (966-17)
7225288
Abha Office
premises
Tel: (966-17) 2381251
Name Position
Ahmed Abdullah
Hameed Al Mantakh Managing
Director
Tyson Fakhruddine Director
Tariq Aziz General
Manager
Hameed Mayanon Assistant
General Manager
Omar Khan Human
Resources Manager
Date of
Establishment : 12th June 2000
Legal Form : Limited Liability Company
Commercial Reg.
No. : 2050036495, Dammam
Membership No. : 488
Issued Capital : SR 1,000,000
Paid up Capital : SR 1,000,000
Name of Shareholder
(s)
Ahmed Abdullah
Hameed Al Mantakh
Tyson Fakhruddine
Activities: Engaged in the production of cupcakes,
rusks, pastries, tarts and samosa leaves.
Import Countries: Europe and the Far East.
Brand Names: SWITZ, BINT ALBALAD, GARAMEESH RUSK, NAHOOL
and SABAHOO
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 31/12/13: Year Ending 31/12/14:
Total Sales SR 21,900,000 SR 23,200,000
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
PO Box: 13
Dammam 31411
Tel: (966-13)
8331188
Fax: (966-13)
8336058
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.63.82 |
|
|
1 |
Rs.99.15 |
|
Euro |
1 |
Rs.69.31 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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.