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Report No. : |
332534 |
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Report Date : |
23.07.2015 |
IDENTIFICATION DETAILS
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Name : |
CLARIANT MASTER BATCHES (SAUDI ARABIA) LTD |
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Registered Office : |
Riyadh Industrial Estate, Phase II, PO Box No.: 5882, Riyadh 11432 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
14.07.1991 |
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Com. Reg. No.: |
1010077483, Riyadh |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Subject is engaged in the manufacture of master batches |
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No. of Employees : |
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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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, telecommuncations, 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. In 2014 the Kingdom ran its first budget deficit since 2009, and faces budget deficits for the foreseeable future because it requires an oil price greater than $100 per barrel to balance its budget. Although the Kingdom can finance high deficits for several years by drawing down its considerable foreign assets or borrowing, it probably will begin to reduce capital spending if oil prices stay low through the next year.
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Source
: CIA |
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
CLARIANT MASTER BATCHES (SAUDI ARABIA) LTD
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.
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
Name Nationality Position
·
Samer
Saud Mohamed Ali Al Shawaf Saudi Managing
Partner
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Dr Nabil Abi Nader - General
Manager
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Nahed Al Safadi - Assistant
General Manager
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G V Nair - Finance
Manager
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John Luke - Production
Manager
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Andre Awaad - Sales
Manager
·
Yasser
Masood - Accountant
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Mazen
Shabaan - Financial
Controller
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
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Samer
Saud Mohamed Ali Al Shawaf
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Clariant International
Switzerland
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
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.
·
National
Commercial Bank
Airport Road
PO Box: 2800
Riyadh 11461
Tel: (966-11) 4772281
Fax: (966-11) 4730322
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.53 |
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UK Pound |
1 |
Rs.99.19 |
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Euro |
1 |
Rs.69.60 |
INFORMATION DETAILS
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Analysis Done by
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TRI |
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Report Prepared
by : |
VNT |
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.