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Report No. : |
335969 |
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Report Date : |
11.08.2015 |
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Tel No.: |
+96626360644 |
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Fax No.: |
+96626374337 |
IDENTIFICATION DETAILS
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Name : |
AL KAWTHER INDUSTRIES CO LIMITED |
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Registered Office : |
Industrial Area, Phase III, Street 33, P.O. Box 7771, Jeddah 21472 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
02.12.1399 Hijri (corresponding to 23rd October
1979) |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Subject is engaged in the design, manufacture, installation and
maintenance of water and wastewater treatment plants,
industrial waste and pollution control systems, chemicals and filters. |
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No. of Employees : |
200 |
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, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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, 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 : AL KAWTHER INDUSTRIES CO LIMITED
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 23rd October 1979
Commercial Registration Number : 4030021112, Jeddah
Chamber Membership Number : 750
Industrial Licence Number : 3983
Issued Capital : SR 42,000,000
Paid up Capital : SR 42,000,000
Total Workforce : 200
Activities :
Design, manufacture, installation and maintenance of
water and wastewater treatment plants,
industrial waste and pollution control systems, chemicals
and filters
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mohamed Hamid, Financial Manager
AL KAWTHER
INDUSTRIES CO LIMITED
Location : Industrial
Area, Phase III, Street 33
PO Box :
7771
Town : Jeddah 21472
Country : Saudi Arabia
Telephone : (966-12)
6360644 / 6372868 / 6080409
Facsimile : (966-12)
6374337
Mobile : (966-50) 4605313
Email : info@alkawther.com / accounts@alkawther.com
Subject operates from a suite of offices and a factory covering an area
of 18,000 square metres that are owned and located in the Industrial Area of
Jeddah.
Branch Office (s)
Location Description
· PO Box: 2220 Rented
sales office
Riyadh 11495
Tel: (966-11)
4766715
Fax: (966-11)
4787652
· PO Box: 30781 Rented
sales office
Al Khobar 31952
Tel: (966-13)
8873730
Fax: (966-13)
8873734
Name Position
· Ahmed Mohamed Al
Ghashlan Chief
Executive Officer
· Mohamed Ahmed Abbas General
Manager
· Mohamed
Rashid Rahmatullah Commercial
Manager
· Fahd Shoujon Human
Resources Manager
· Mohamed Hamid Financial
Manager
· Fouaz Al Noumi Production
Manager
Date of
Establishment : 02/12/1399 Hijri (corresponding to 23rd October
1979)
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 4030021112,
Jeddah
Industrial Licence No. : 3983
Chamber Member No. : 750
Issued Capital : SR 42,000,000
Paid up Capital : SR 42,000,000
· Al
Murjan Holding Co
Jeddah
Saudi Arabia
Tel:
(966-12) 2611364
· Al Ahbar United Co
Jeddah
Activities: Engaged in the design, manufacture, installation and maintenance of water and wastewater treatment
plants, industrial waste and pollution
control systems, chemicals and filters.
Subject is ISO 9001 accredited.
Import Countries: United States of America and Europe
Operating Trend: Steady
Subject has a workforce of approximately 200 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
75,312,134 SR
79,742,885
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Mohamed
Hamid, Financial Manager
·
National Commercial Bank
Al Balad Branch
King Abdulaziz
Street
PO Box: 5066
Jeddah 21422
Tel: (966-12)
6434777
Fax: (966-12)
6441686
No complaints regarding subject’s payments have been reported.
Credit amount 17,525
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Canadian
Dollars
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.63.76 |
|
UK Pound |
1 |
Rs.98.76 |
|
Euro |
1 |
Rs.69.88 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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|
Report Prepared
by : |
TRU |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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.