MIRA INFORM REPORT

 

 

Report No. :

332534

Report Date :

23.07.2015

 

 

 

 

 

 

Tel No.:

+966112654825 ext 205

Fax no.:

+9662653212

 

Note: Correct name of the company is “CLARIANT MASTER BATCHES (SAUDI ARABIA) LTD”.

 

 

IDENTIFICATION DETAILS

 

Name :

CLARIANT MASTER BATCHES (SAUDI ARABIA) LTD

 

 

Formerly Known As :

 

 

 

Registered Office :

 

 

 

Country :

 

 

 

Financials (as on) :

 

 

 

Date of Incorporation :

 

 

 

Com. Reg. No.:

 

 

 

Legal Form :

 

 

 

Line of Business :

 

 

 

No. of Employees :

 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

 

 

RATING

STATUS

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

-

 

NB

                                       New Business

-

 

Maximum Credit Limits :

 

 

 

Status :

 

 

 

Payment Behaviour :

 

 

 

Litigation :

 

 

 

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

 

 

 

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

 

 

 

ECONOMIC OVERVIEW

 

 

Source : CIA

 

 

 

 

SUMMARY

 

Company Name                                    : CLARIANT MASTER BATCHES (SAUDI ARABIA) LTD

Country of Origin                                   : Saudi Arabia

Legal Form                                           : Limited Liability Partnership

Registration Date                                  : 14th July 1991

Commercial Registration Number           : 1010077483, Riyadh

Chamber Membership Number               : 22625

Issued Capital                                       : SR 26,700,000

Paid up Capital                                     : SR 26,700,000

Total Workforce                                                : 180

Activities                                               : Manufacture of master batches

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

Person Interviewed                                : Mazen Shabaan, Financial Controller

 

 

 

COMPANY NAME

 

CLARIANT MASTER BATCHES (SAUDI ARABIA) LTD

 

 

ADDRESS

 

Registered & Physical Address

 

Location           : Riyadh Industrial Estate, Phase II

 

PO Box                        : 5882

 

Town                : Riyadh 11432

Country             : Saudi Arabia

 

Telephone         : (966-11) 2652828 / 2654825 (ext 205)

Facsimile          : (966-11) 2651413 / 2653212

Email                : info@mulawinat.com / info@clariant.com

 

Please note that the correct PO Box number is 5882 and not 5002.

 

Premises

 

Subject operates from a large suite of offices and a factory that are rented and located in the Industrial Area of Riyadh.

 

Branch Offices

 

     Location                                                                                           Description

 

·       Dammam                                                                                         Office premises

Tel: (966-13) 8974409

 

·       Jeddah                                                                                            Office premises

Tel: (966-12) 6040005

 

 

KEY PRINCIPALS

 

     Name                                                           Nationality                     Position

 

·       Samer Saud Mohamed Ali Al Shawaf                Saudi                         Managing Partner

 

·       Dr Nabil Abi Nader                                               -                            General Manager

 

·       Nahed Al Safadi                                                  -                            Assistant General Manager

 

·       G V Nair                                                              -                            Finance Manager

 

·       John Luke                                                           -                            Production Manager

 

·       Andre Awaad                                                       -                            Sales Manager

 

·       Yasser Masood                                                   -                            Accountant

 

·       Mazen Shabaan                                                   -                            Financial Controller

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 14th July 1991

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.   : 1010077483, Riyadh

 

Chamber Member No.  : 22625

 

Issued Capital              : SR 26,700,000

 

Paid up Capital            : SR 26,700,000

 

Name of Partner (s)

 

·       Samer Saud Mohamed Ali Al Shawaf

 

·       Clariant International

     Switzerland

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of master batches.

 

Import Countries: Europe and India.

 

Operating Trend: Steady

 

Subject has a workforce of approximately 180 employees.

 

 

FINANCIAL DATA

 

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 58,200,000                           SR 63,900,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       National Commercial Bank

Airport Road

PO Box: 2800

Riyadh 11461

Tel: (966-11) 4772281

Fax: (966-11) 4730322

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

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.63.53

UK Pound

1

Rs.99.19

Euro

1

Rs.69.60

 

INFORMATION DETAILS

 

Analysis Done by :

 

 

 

Report Prepared by :

VNT

 

               

RATING EXPLANATIONS

 

RATING

STATUS

PROPOSED CREDIT LINE

 

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

 

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

 

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

 

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

 

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

 

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

 

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

Credit not recommended

 

--

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.