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Report No. : |
335259 |
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Report Date : |
13.08.2015 |
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Tel No.: |
00 966 2 2272727 |
NOTE: Correct name of the subject is “AL
HAYAT BUILDING MATERIALS CO LTD”
IDENTIFICATION DETAILS
|
Name : |
AL HAYAT BUILDING
MATERIALS CO LTD |
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|
|
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Registered Office : |
Mecca Medina Express Highway, P O Box: 18053, Jeddah 21415 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
16.03.1406 (Corresponding to 29th
November 1985) |
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Com. Reg. No.: |
4030041450,
Jeddah |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of
building materials, hardware, power tools, decorative materials and sanitary
ware products. |
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No. of Employees : |
550 |
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 |
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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 – 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 : AL HAYAT
BUILDING MATERIALS CO LTD
Country of Origin : Saudi
Arabia
Legal Form :
Limited Liability Partnership
Registration Date : 29th
November 1985
Commercial
Registration Number :
4030041450, Jeddah
Chamber Membership
Number : 17875
Issued Capital : SR
50,000,000
Paid up Capital : SR
50,000,000
Total Workforce : 550
Activities :
Distributors of building materials, hardware, power tools, decorative
materials and sanitary ware products.
Financial Condition : Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Bassam
Dalaoua, Finance Manager
AL HAYAT BUILDING
MATERIALS CO LTD
Location : Mecca Medina Express Highway
PO Box : 18053
Town : Jeddah 21415
Country : Saudi Arabia
Telephone : (966-12) 6407777 / 6732322 / 6736327
/ 6712380
Facsimile : (966-12) 2272727 / 6712380
Email : info@hayatbmc.com / hayatbma@ogertel.com
Subject operates
from a large suite of offices and a warehouse that are rented and located in
the Central Business Area of Jeddah.
Branch Office
(s)
Subject operates a network of 20 branches located throughout the
Kingdom, including the following:
Location Description
·
Riyadh Office
& warehouse premises
Tel: (966-1) 2410939
·
Dammam Office
& warehouse premises
Tel: (966-3) 8571688
·
Khamis
Mushait Office
& warehouse premises
Tel: (966-7) 2237937
·
Al Hasa Office
& warehouse premises
Tel: (966-3) 5861311
·
Jizan Office
& warehouse premises
Name Position
·
Issam
Mohamed Khairy Al Kabbani Managing
Partner
·
Fawaz
Hajjar General
Manager
·
Bassam
Dalaoua Finance
Manager
·
Ahmed
Medhat Financial
Controller
·
Osama Abbassi Sales
Manager
·
Basheer
Mohamed Bashir Marketing
Manager
Date of Establishment : 16/03/1406
(corresponding to 29th November 1985)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 4030041450,
Jeddah
Chamber Member No. : 17875
Issued Capital : SR 50,000,000
Paid up Capital : SR 50,000,000
·
Issam
Mohamed Khairy Al Kabbani
·
Heirs of Zayad Zain Al Abdin (represented
by his wife Mrs Goladah Diyab)
·
National
Marketing Est
Port Road
PO Box: 16375 / 17931
Jeddah 21464
Tel: (966-12) 6475010 / 6473381
Fax: (966-12) 6474503
Commercial Registration Number: 4030006734
Engaged as wholesalers of UPVC pipes and
fittings and a wide range of items and products related to water, drainage and
conduit installation projects. Subject is also engaged in the distribution and
installation of decorative materials.
·
United
Building Materials Co Ltd (UNITECH)
Also Known As: Issam Kabbani & Partners
for Prefabricated Building & Trading Co
Al Amin Al Aam Street
Al Azizeyyah District
PO Box: 5338
Jeddah 21422
Tel: (966-12) 6659096
Fax: (966-12) 6658079
Commercial Registration Number: 4030032842
Engaged as wholesalers and distributors of
building materials, sealants, adhesives, bitumen coatings, hardware and tools.
·
Issam
Kabbani & Partners for Waterproofing Materials Co (BMC)
PO Box: 5338
Jeddah 21422
Tel: (966-12) 6673180
Fax: (966-12) 6658079
Commercial Registration
Number: 4030032844
BMC is an engineering and contracting
company specialising in waterproofing, damp-proofing, heat insulation and
concrete repair.
·
Al
Kabbani Co for Electric Trading
PO Box: 18033
Jeddah 21415
Tel: (966-12) 6481713
Fax: (966-12) 6478065
Distributors of electrical fittings,
switchgear boards and cables.
·
Al
Hayat Supermarket
PO Box: 16375
Jeddah 21464
·
Marketing
Fittings Sanitary & Plumbing Co
PO Box: 16375
Jeddah
Retailers of sanitary fittings.
·
Issam
Kabbani Co
PO Box: 16375
Jeddah 21464
Wholesalers of foodstuff.
·
Emam
Distribution Co Ltd
PO Box: 1716
Jeddah 21441
Tel: (966-12) 6824294
Fax: (966-12) 6918227
·
Specialist
International Marketing Group Co
PO Box: 6338
Jeddah 21422
Tel: (966-12) 6672000
Fax: (966-12) 6658079
·
Saudi
Turkish Marine & Construction Contracting Co Ltd
PO Box: 7371
Jeddah 21462
Tel: (966-12) 6670457
Fax: (966-12) 6652473
·
Mahmoud
Adada & Issam Kabbani & Partners Ltd
PO Box: 520
Makkah
Tel: (966-12) 5205555 / 5803056
Engaged in the production of wooden and
metal furniture and kitchen units, as well as door, windows and decorative
wood.
Activities: Engaged as distributors of building
materials, hardware, power tools, decorative materials and sanitary
ware products.
Import
Countries: United Kingdom,
Germany, Italy, Spain, Belgium and South Korea
International
Suppliers:
·
Kludi Germany
·
Grohe Germany
·
AEG
Electrowerkezeug GmbH Germany
·
Ge
Plastics Europe Germany
·
Hawera
Probst GmbH & Co Germany
·
Weiser United
Kingdom
·
Tremco
Sealants United
Kingdom
·
Pigler United
Kingdom
·
Saviel Italy
·
Fischer
Italia Srl Italy
·
Sangra Spain
·
Carlisle
Syntec Systems Belgium
·
Seo
Young South Korea
Operating Trend: Steady
Subject has a
workforce of approximately 550 employees.
Financial
highlights provided by local sources are given below:
Currency: Saudi
Riyals (SR)
Year
Ending 31/12/13:
Total Sales SR 420,000,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Bassam Dalaoua, Finance Manager.
·
National
Commercial Bank
Palestine Square
PO Box: 7161
Jeddah 21462
Tel: (966-12) 6697384
Fax: (966-12) 6697388
·
Al Bank
Al Saudi Al Fransi
Al Sharafiya Branch
Madinah Road
PO Box: 7888
Jeddah 21472
Tel: (966-12) 6605863
No complaints
regarding subject’s payments have been reported.
Al Hayat Building
Materials Co Ltd has operations dating back to 1984 and is engaged in the
distribution of building materials, hardware and sanitary ware products. It
enjoys a good reputation for the quality of its products and deals with a host
of reputable international suppliers.
Subject is owned by
members of the Kabbani family who have many years experience in the building
materials industry.
According to local
sources subject’s operating history is clear with nothing detrimental uncovered
regarding the manner in payment obligations are met. The financial position is
considered to be satisfactory and the company is considered to be a fair trade
risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.83 |
|
|
1 |
Rs.101.00 |
|
Euro |
1 |
Rs.71.82 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
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 |
|
|
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 |
-- |
|
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.