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Report No. : |
356578 |
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Report Date : |
24.12.2015 |
IDENTIFICATION DETAILS
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Name : |
MAYAR FOODS COMPANY |
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Formerly Known As : |
AL MUHAIDIB FOODS CO |
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Registered Office : |
Al Muhaidib Building, King Faisal Coastal Road, Salman Al
Faresi Street,9149, Dammam 31413, 8495, Dammam 32221 , Dammam |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
18.01.1959 |
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Legal Form : |
Joint
Stock Company |
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Line of Business : |
Subject engaged in the import and distribution of general
foodstuffs, including rice and sugar and fast moving consumer goods. |
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No. of Employee : |
540 |
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 – 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, 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. 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 :
MAYAR FOODS COMPANY
Previously Known As : AL MUHAIDIB FOODS CO
Country of Origin : Saudi Arabia
Legal Form : Joint Stock Company
Registration Date : 18th January 1959
Commercial Registration Number : 2050050746, Dammam
Tax Number : 399950105
Chamber Membership Number : 76276
Issued Capital : SR 10,000,000
Paid up Capital : SR 10,000,000
Total Workforce : 540
Activities : Distributors of general foodstuff and fast moving consumer goods.
Financial Condition : Good
Payments : Regular
Operating Trend : Steady
Person Interviewed : Amer Satar, Financial Manager
MAYAR FOODS COMPANY
PREVIOUSLY
KNOWN AS: AL MUHAIDIB FOODS CO
Building :
Al Muhaidib Building
Street : King
Faisal Coastal Road, Salman Al Faresi Street
PO Box :
9149, Dammam 31413
8495, Dammam 32221
Town :
Dammam
Country : Saudi Arabia
Telephone :
(966-13) 8455555 / 8472633
Facsimile :
(966-13) 8455553 / 8472263
Email : webadmin@muhaidib-food.com
/ info@mayar.com
Subject operates from a large suite of offices that are
rented and located in the Central Business Area of Dammam.
Branch Office (s)
Location Description
· PO
Box: 3325 Showroom
premises
Riyadh
11471
Tel:
(966-11) 2443000
Fax:
(966-11) 2448777
· PO
Box: 10092 Showroom
premises
Hail
Tel:
(966-16) 5329225
Fax:
(966-16) 5332531
· PO
Box: 5360 Showroom
premises
Qassim
Tel:
(966-16) 3220438
Fax:
(966-16) 3220820
· PO
Box: 9149 Showroom
premises
Dammam
31411
Tel:
(966-13) 8472633
Fax:
(966-13) 8472263
· PO
Box: 4167 Showroom
premises
Al
Ahsa
Tel:
(966-13) 5313379
Fax:
(966-13) 5313378
· PO
Box: 1085 Showroom
premises
Hafr
El Baten
Tel:
(966-14) 7213058
Fax:
(966-14) 7213058
· PO
Box: 700 Showroom
premises
Arar
Tel:
(966-14) 6610759
Fax:
(966-14) 6623500
· PO
Box: 16197 Showroom
premises
Jeddah
21464
Tel:
(966-12) 6372000
Fax: (966-12)
6095959
· PO
Box: 16197 Showroom
premises
Makkah
Tel:
(966-12) 5317879
Fax:
(966-12) 5317901
· PO
Box: 5531 Showroom
premises
Al
Madina Al Munawara
Tel:
(966-14) 8425555
Fax:
(966-14) 8424810
· PO
Box: 4657 Showroom
premises
Taif
Tel:
(966-12) 7420222
Fax:
(966-12) 7463948
· PO
Box: 1416 Showroom
premises
Tabuk
Tel:
(966-14) 4276103
Fax:
(966-14) 4276106
· PO
Box: 1623 Showroom
premises
Khamis
Mushait
Tel:
(966-17) 3215555
Fax:
(966-17) 3222816
· Jizan Showroom
premises
Tel:
(966-17) 5329225
Fax:
(966-17) 5332531
· Najran Showroom
premises
Tel:
(966-17) 5440149
Fax:
(966-17) 5440564
Name Position
· Essam
Abdul Qader Al Muhaidib Managing
Director
· Emad
Abdul Qader Al Muhaidib Director
· Sulaiman
Abdul Qader Al Muhaidib Director
· Khaled
Farooqi General
Manager
· Emad
Arar Accounts
Manager
· Amer
Satar Financial
Manager
· Fatima
Batouk Marketing
Manager
· Khaled
El Mazrou Human
Resources Manager
· Ahmed
Al Muhaidib Export
Manager
· Farouk
Mgahed Accountant
Date
of Establishment : 18th
January 1959
Legal
Form : Joint
Stock Company
Commercial
Reg. No. :
2050050746, Dammam
Tax No. :
399950105
Chamber
Member No. : 76276
Issued Capital : SR
10,000,000
Paid up Capital : SR
10,000,000
· Essam
Abdul Qader Al Muhaidib 33%
· Emad
Abdul Qader Al Muhaidib 33%
· Sulaiman
Abdul Qader Al Muhaidib 33%
· Unnamed
Shareholder 1%
Subject is a member of the A K Al Muhaidib & Sons Group
of Companies, which comprises the following concerns:
· Abdul
Kader Al Muhaidib & Sons
Al
Akaria Building
King
Saud Street
PO
Box: 30 & 1023
Dammam
31411
Tel: (966-13)
8322033
Fax:
(966-13) 8336082
CR No.
2050009333
· Al
Muhaidib Land Transport Co.
PO
Box: 30
Dammam
31411
Tel:
(966-13) 8587587
Fax:
(966-13) 8587585
· Al
Muhaidib Contracting Company
PO
Box: 1023
Dammam
31431
Tel:
(966-13) 8260345
Fax:
(966-13) 8262144
· Dewan
Trading Group (DTG)
PO
Box: 17756
Riyadh
11494
Tel:
(966-11) 4038186
Fax:
(966-11) 4058829
· Al
Muhaidib Building Materials
PO
Box: 16197
Jeddah
21464
Tel:
(966-12) 6372000
Fax:
(966-12) 6372288
· International
Timber
PO
Box: 9815
Riyadh
11423
Tel:
(966-11) 4484332
Fax:
(966-11) 4482317
· Al
Muhaidib Food Industries Co
PO
Box: 9149
Dammam
31413
Tel:
(966-13) 8328888
Fax:
(966-13) 8336082
· Al
Muhaidib Grains
PO
Box: 2149
Dammam
31413
Tel:
(966-13) 8328888
Fax:
(966-13) 8311888
· Giant
Stores
PO Box:
4822
Dammam
31412
Tel:
(966-13) 8592525
Fax:
(966-13) 8592626
· The
Marketers
PO
Box: 21657
Riyadh
11485
Tel:
(966-11) 4881478
Fax:
(966-11) 4883952
· Forte
Industries Company
PO
Box: 40225
Riyadh
11499
Tel:
(966-1) 2652050
Fax:
(966-1) 2650933
· Saudi
Industrial Paint Company (Sipco)
PO
Box: 5795
Dammam
31432
Tel:
(966-13) 8578584
Fax:
(966-13) 8573780
· United
Central Supermarket
PO
Box: 508
Al
Hassa 31982
Tel:
(966-13) 5870708
Fax:
(966-13) 5877853
· Dar Al
Marefa Company
PO
Box: 119
Al
Khobar 31952
Tel:
(966-13) 8587777
Fax:
(966-13) 8592223
· United
Wood Products
PO
Box: 240
Riyadh
11383
Tel:
(966-11) 2650999
Fax:
(966-11) 2651108
· United
Feed Company (UFC)
PO
Box: 21
Dammam
31411
Tel:
(966-13) 8579018
Fax:
(966-13) 8579018
Activities: Engaged in the import and distribution
of general foodstuffs, including rice and sugar and fast moving
consumer goods. Subject owns and operates
approximately 200 vehicles.
Import Countries: India, Pakistan, Egypt, United
States of America and GCC countries.
Local
Suppliers:
Local
Clients:
International
Clients:
Export
Countries: Jordan, Egypt, Austria and Bahrain
Brand
Names: PUNJABI AL-MUHAIDIB, AL-WALIMAH and WHITE SWAN RICE
Operating Trend: Steady
Subject has a workforce of approximately 540 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
700,000,000 SR 900,000,000
Fixed Assets - SR 30,000,000
Local sources consider subject’s financial condition to be
Good.
The above figures were provided by Mr Amer Satar, Financial
Manager
·
Al Bank Al Saudi Al Fransi
PO
Box: 754
Dammam
Tel:
(966-13) 8985760
·
Al Bank Al Saudi Al Hollandi
Dhahran
Street
PO
Box: 70
Dammam
Tel:
(966-13) 8323212
·
Saudi American Bank
PO
Box: 3113
Dammam
31471
Tel:
(966-13) 8337171
Regular
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.66.20 |
|
|
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.41 |
|
SAR |
1 |
Rs.17.59 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
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Report Prepared
by : |
TRU |
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 |
|
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.