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Report No. : |
303829 |
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Report Date : |
22.01.2015 |
IDENTIFICATION DETAILS
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Name : |
SAUDI DELTA
COMPANY FOR CHEMICAL INDUSTRIES |
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Registered Office : |
Street No. 177, 3rd Industrial City, P O Box: 355809, Riyadh 11383 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
August, 2006 |
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Com. Reg. No.: |
1010216924,
Riyadh |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture and
distribution of feed additives, animal nutrition, fertilizers, insecticides
and pesticides. |
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No. of Employees : |
55 |
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) |
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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 : SAUDI
DELTA COMPANY FOR CHEMICAL INDUSTRIES
Country of Origin : Saudi
Arabia
Legal Form :
Limited Liability Company
Registration Date : August 2006
Commercial
Registration Number :
1010216924, Riyadh
Trade Licence
Number : 1294
Issued Capital : SR
7,000,000
Paid up Capital : SR
7,000,000
Total Workforce : 55
Activities :
Manufacture and distribution of feed additives, animal nutrition, fertilizers, insecticides and pesticides.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Samer Hammad,
Finance Manager
SAUDI DELTA COMPANY
FOR CHEMICAL INDUSTRIES
Street : Street No. 177
Area : 3rd Industrial
City
PO Box : 355809
Town : Riyadh 11383
Country : Saudi Arabia
Telephone : (966-11) 2654533
Facsimile : (966-11) 2654532
Mobile : (966-55) 3420205 / 0536466
Email : info@sdelta.com.sa
Subject operates
from a medium sized suite of offices, warehouse and a production unit that are
rented and located in the Industrial Area of Riyadh.
Name Position
·
Mohamed
Eweis Chairman
·
Nael
Mohamed Shaker Abdul Rahman Managing
Director
·
Hisham
Suleiman Fahmy Abdul Latif Abu Hussein Director
·
Raed
Kamel Chief
Executive Officer
·
Mahmoud
Khedr Sales
Manager
·
Samer
Hammad Finance
Manager
·
Shady
Heikl Accountant
Date of Establishment : August 2006
Legal Form :
Limited Liability Company
Commercial Reg. No. : 1010216924,
Riyadh
Trade Licence No. : 1294
Issued Capital : SR 7,000,000
Paid up Capital : SR 7,000,000
·
Arab
Pesticides & Veterinary Drugs Manufacturing Co 55%
·
Nael
Mohamed Shaker Abdul Rahman 25%
·
Hisham
Suleiman Fahmy Abdul Latif Abu Hussein 20%
Activities: Engaged in the manufacture and distribution
of feed additives, animal nutrition, fertilizers, insecticides,
pesticides and related
products. Subject owns and operates 5 vehicles.
Subject is ISO 9001:2012 accredited.
Import
Countries: India, China and
the United Arab Emirates
Local Suppliers:
·
RAR
Resin & Chemical Industries
Local Clients:
·
Atiaf
Agricultural Services Establishment
·
Al
Selouly Agricultural Establishment
Export
Countries: GCC countries
and Tunisia.
Operating Trend: Steady
Subject has a
workforce of 55 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 23,000,000 SR 30,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Samer Hammad, Finance Manager
·
Al Bank
Al Saudi Al Fransi
Mather Road
PO Box: 56006
Riyadh 11554
Tel: (966-11) 4042222
Fax: (966-11) 4042311
·
Al Rajhi
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.
According to local
sources, subject meets its payment obligations in a timely manner and the
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.61 |
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|
1 |
Rs.93.49 |
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Euro |
1 |
Rs.71.38 |
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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>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.