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Report No. : |
306047 |
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Report Date : |
06.02.2015 |
IDENTIFICATION DETAILS
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Name : |
MADA NONWOVENS CO
LTD |
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Registered Office : |
Road No. 148 Jubail Industrial Area 331 Jubail 31961 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
13.03.2006 |
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Com. Reg. No.: |
2055007409,
Jubail |
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Legal Form : |
Limited Liability
Company |
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Line of Business : |
Engaged in the
import, manufacture and distribution of non-woven fabrics, including
polypropylene spun melt and polyester needle punch non-wovens. |
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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 : |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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. 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 : MADA
NONWOVENS CO LTD
Country of Origin : Saudi
Arabia
Legal Form :
Limited Liability Company
Registration Date : 13th
March 2006
Commercial Registration
Number : 2055007409, Jubail
Trade Licence
Number : 1441
Issued Capital : SR
95,000,000
Paid up Capital : SR
95,000,000
Total Workforce : 180
Activities :
Manufacture and distribution of non-woven fabrics/
Financial Condition : Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
MADA NONWOVENS CO LTD
Street : Road No. 148
Area : Jubail Industrial Area
PO Box : 331
Town : Jubail 31961
Country : Saudi Arabia
Telephone : (966-13) 3407202 / 3407203 / 3407205
Facsimile : (966-13) 3407209
Mobile : (966-56) 8460639
Email : contact@madanonwovens.com
Subject operates from
a large suite of offices, a warehouse and a manufacturing plant that are owned
and located in the Industrial Area of Jubail.
Name Position
·
Faisal
Sulaiman Abdul Aziz Al Rajhi Managing
Director
·
Mohamed
Ziad Yoden Finance
Manager
·
Kmash
Al Shmaly Human
Resources Manager
Date of Establishment : 13th
March 2006
Legal Form :
Limited Liability Company
Commercial Reg. No. : 2055007409,
Jubail
Trade Licence No. : 1441
Issued Capital : SR 95,000,000
Paid up Capital : SR 95,000,000
·
Mada
Industrial & Commercial Investment Co
·
Rowad
Al Obour for Industrial & Commercial Investment Co
Activities: Engaged in the import, manufacture and distribution
of non-woven fabrics, including polypropylene spun
melt and polyester needle
punch non-wovens.
Import
Countries: Germany and
China
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 31/12/13: Year Ending
31/12/14:
Total Sales SR 114,500,000 SR
120,000,000
Local sources
consider subject’s financial condition to be Good.
The above financial
figures are based on estimations by our local sources.
·
Al Rahi
Banking & Investment Corporation
PO Box: 28
Riyadh 11411
Tel: (966-11) 4054647 / 4054244
Fax: (966-11) 4044753 / 4052950
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.61.87 |
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|
1 |
Rs.94.07 |
|
Euro |
1 |
Rs.70.19 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ANK |
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.