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Report No. : |
305655 |
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Report Date : |
03.02.2015 |
IDENTIFICATION DETAILS
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Name : |
AL HOSHANI & PARTNER PLASTIC FACTORY CO |
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Registered Office : |
Al Shafa Industrial Area, 42175, Riyadh 11541 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
07.04.1991 |
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Com. Reg. No.: |
1010180304 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacture of cardboard and plastic products. 180 |
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No. of Employee : |
180 |
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 : |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Saudi Arabia |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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 :
AL HOSHANI & PARTNER PLASTIC FACTORY
CO
Country of Origin :
Saudi Arabia
Legal Form :
Limited Liability Partnership
Registration Date :
7th April 1991
Commercial Registration Number :
1010180304, Riyadh
Chamber Membership Number :
20264
Issued Capital :
SR 6,000,000
Paid up Capital :
SR 6,000,000
Total Workforce :
180
Activities :
Manufacture of cardboard and plastic products.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Shakti Parasad, Assistant Finance Manager
AL HOSHANI &
PARTNER PLASTIC FACTORY CO
Location : Al Shafa
Industrial Area
PO Box : 42175
Town : Riyadh 11541
Country : Saudi Arabia
Telephone : (966-11)
4222289 / 4212538 / 4234816
Facsimile : (966-11)
4210152
Mobile : (966-53) 2183744 / (966-50) 5188674
Email : zakir@nfc.sa
/ turkey@nfc.sa / mohab@nfc.sa / shakti@nfc.sa
Subject operates from a large suite of offices and a factory that are
owned and located in the Industrial Area of Riyadh.
Name Position
· Mohamed Ali Al Hoshani Managing
Partner
· Mahmoud Aziz Abdulaziz Partner
· Zakir Altaf Finance
Manager
· Shakti Parasad Assistant
Finance Manager
· Asgar Rana Sales
Manager (Plastic)
· Ijaz Shah Sales
Manager (Carton)
· Ismail Imam Human
Resources Manager
· Turky Saad Al
Ablan Administration
Manager
· Mohab Shaheen Assistant
Administration Manager
Date of
Establishment : 7th
April 1991
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 1010180304,
Riyadh
Chamber Member No. : 20264
Issued Capital : SR 6,000,000
Paid up Capital : SR 6,000,000
· Mohamed Ali Al Hoshani
· Mahmoud Aziz Abdulaziz
· National Carton Factory
PO Box: 42175
Riyadh 11541
Tel: (966-11) 4222289 / 4212538
Fax: (966-11) 4210152
CR No. 1010179613
Activities: Engage in the manufacture of cardboard and plastic products, such as
plastic bags, winded rolls, packing rolls, nylon products and warning tapes.
Import Countries: China and India
Local Suppliers:
· SABIC Saudi Arabia
Operating Trend: Steady
Subject has a workforce of approximately 180 employees.
Financial highlights provided by local sources are given below:
Currency: Saudi Riyals (SR)
Year Ending 31/12/12: Year Ending 31/12/13:
Total Sales SR
72,801,144 SR
74,552,453
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Shakti Parasad, Assistant Finance
Manager
·
Al Rajhi Banking & Investment Corporation
PO Box: 28
Riyadh 11411
Tel: (966-11)
4054647 / 4054244
Fax: (966-11)
4044753 / 4052950 / 4037156
No complaints regarding subject’s payments have been reported.
Please note that the subject is in the process of increasing its capital
to SR 18,500,000.
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. 61.88 |
|
|
1 |
Rs. 93.27 |
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Euro |
1 |
Rs. 69.94 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ASH |
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 |
-- |
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.