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Report No. : |
308250 |
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Report Date : |
19.02.2015 |
IDENTIFICATION DETAILS
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Name : |
CROWN JEDDAH BEVERAGE CAN FACTORY |
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Registered Office : |
Street No. 33, Road No. 31, Industrial Area, Phase 3, PO Box 16626,
Jeddah 21474 |
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Country : |
Saudi
Arabia |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
18.02.1983 |
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Com. Reg. No.: |
4030037904 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the manufacture of canned soft drinks. |
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No. of Employees : |
225 |
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) |
|
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 :
CROWN JEDDAH BEVERAGE CAN FACTORY
Country of Origin :
Saudi Arabia
Legal Form :
Limited Liability Company
Registration Date :
18th February 1983
Commercial Registration Number :
4030037904, Jeddah
Chamber Membership Number :
19178
Issued Capital :
SR 71,750,000
Paid up Capital :
SR 71,750,000
Total Workforce :
225
Activities :
Manufacturers of canned soft drinks
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
CROWN JEDDAH BEVERAGE CAN FACTORY
Registered &
Physical Address
Street : Street No.
33, Road No. 31
Area : Industrial
Area, Phase 3
PO Box :
16626
Town : Jeddah 21474
Country : Saudi Arabia
Telephone : (966-12)
6361750
Facsimile : (966-12)
6362341
Email : jbcmc@jbcmc.com
/ rima.ali-husseini@crowncork.com
Premises
Subject operates from a large suite of offices and a factory that are
owned and located in the Industrial Area of Jeddah.
Name Position
Abdulaziz Al Ghosaibi Managing
Director
Mohamed Riad Al Hindi General Manager
Riad Mohamed Al Hindi Assistant
General Manager
Hazem Homaidi Production
Manager
Mohamed Abu Saleh Accounts
Manager
Nazih Al Saeed Plant
Manager
Naeem Al Sagir Commercial
Manager
Date of Establishment : 06/05/1403 Hijri
(corresponding to 18th February 1983)
Legal Form : Limited Liability
Company
Commercial Reg. No. : 4030037904,
Jeddah
Chamber Member No. : 19178
Issued Capital : SR 71,750,000
Paid up Capital : SR 71,750,000
Name of Partner (s)
Ahmed Hamd Al Ghosaibi Co
Jeddah
Crown Cork & Seal International
United States of America
Activities: Engaged in the manufacture of canned soft drinks.
Import Countries: Europe and the United States of America
Operating Trend: Steady
Subject has a workforce of approximately 225 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
140,000,000 SR 161,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
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.
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 |
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US Dollar |
1 |
Rs.62.25 |
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|
1 |
Rs.95.57 |
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Euro |
1 |
Rs.71.00 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
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 |
-- |
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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.