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Report No. : |
302087 |
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Report Date : |
10.01.2015 |
IDENTIFICATION DETAILS
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Name : |
NATIONAL COMPANY
FOR SULPHUR PRODUCTS (NCSP) |
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Registered Office : |
Prince Sultan Street, Cross Dabaab Street, P O Box: 2951, Riyadh 11461 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
23.01.2010 |
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Com. Reg. No.: |
1010166742,
Riyadh |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Import, Export,
Manufacture, and Distribution of Chemical Products. |
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No. of Employees : |
170 |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Saudi Arabia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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.
|
Source
: CIA |
Company Name : NATIONAL
COMPANY FOR SULPHUR PRODUCTS (NCSP)
Country of Origin : Saudi
Arabia
Legal Form :
Limited Liability Company
Registration Date : 23rd
January 2010
Commercial
Registration Number :
1010166742, Riyadh
Chamber Membership
Number : 111008
Issued Capital : SR
60,000,000
Paid up Capital : SR
60,000,000
Total Workforce : 170
Activities :
Import, export, manufacture, and distribution of chemical products
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
NATIONAL COMPANY
FOR SULPHUR PRODUCTS (NCSP)
Location : Prince Sultan Street, Cross Dabaab
Street
PO Box : 2951
Town : Riyadh 11461
Country : Saudi Arabia
Telephone : (966-11) 4647711
Facsimile : (966-11) 2170866
Email : info@ncsp.com
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area Industrial Area of Riyadh.
Branch Office
(s)
Location Description
·
El
Kharj Road, Kilo 26 Owned
factory & warehouse
3rd Industrial City
Riyadh
Name Position
·
Seoud
Mohamed Nasser Al Areefi Chairman
·
Bahjat
Dawod Idaili General
Manager
·
S.
Murugaperumal Murugaperumal Plant
Manager
·
Fady El
Hassan Purchasing
Manager
·
Hossam
Tabnga Sales
Manager
·
Ali Abo
Dahan Administration
Manager
Date of Establishment : 23rd
January 2010
Legal Form :
Limited Liability Company
Commercial Reg. No. : 1010166742,
Riyadh
Chamber Member No. : 111008
Issued Capital : SR 60,000,000
Paid up Capital : SR 60,000,000
·
Seoud
Mohamed Nasser Al Areefi
·
Kalil El Tourky
·
Members
of Mr Seoud Mohamed Nasser Al Areefi’s family
·
Al
Rawabi Marketing Company LLC
Saudi Arabia
Activities: Engaged in the import, export, manufacture,
and distribution of chemical products, including potassium sulphate, sodium
sulphate, hydrochloric acid, sulphuric acid, sulphuric acid, potassium
hydroxide, sodium Laurie potassium hydroxide, and sodium Laurie.
Production Capacity: 30,000 MT/Year
Achievements / Certificates: ISO
9001-2000 obtained in 2003
Import
Countries: Russia,
Singapore, Malaysia and India
Export
Countries: Gulf
Cooperation Countries, USA and Germany
Operating Trend: Steady
Subject has a
workforce of approximately 170 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 31,200,000 SR 33,500,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Banque
Saudi Fransi
Mather Road
PO Box: 56006
Riyadh 11554
Tel: (966-11) 4042222
Fax: (966-11) 4042311
·
Riyad
Bank
King Abdul Aziz Road
PO Box: 22622
Riyadh 11416
Tel: (966-11) 4122243
Fax: (966-11) 4013030
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.62.40 |
|
|
1 |
Rs.96.17 |
|
Euro |
1 |
Rs.73.61 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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.