MIRA INFORM REPORT

 

 

Report No. :

315765

Report Date :

31.03.2015

 

IDENTIFICATION DETAILS

 

Name :

MIDDLE EAST PLASTIC INDUSTRIES CO

 

 

Registered Office :

Industrial City, Phase 5, PO Box 54432, Jeddah 21514

 

 

Country :

Saudi Arabia

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

16.06.1998

 

 

Com. Reg. No.:

4030133428

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Manufacture of plastic materials and plastic display units

 

 

No. of Employees :

110

 

 

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

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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 one-fifth 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. Almost 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 December 2005 after many years of negotiations. 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

 

SUMMARY

 

Company Name                                    : MIDDLE EAST PLASTIC INDUSTRIES CO

Country of Origin                                   : Saudi Arabia

Legal Form                                           : Limited Liability Partnership

Registration Date                                  : 16th June 1998

Commercial Registration Number           : 4030133428, Jeddah

Chamber Membership Number               : 48292

Issued Capital                                       : SR 5,000,000

Paid up Capital                                     : SR 5,000,000

Total Workforce                                     : 110

Activities                                               : Manufacture of plastic materials and plastic display units

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

Person Interviewed                                : Ahmed Taher, Finance Manager

 

 

 

COMPANY NAME

 

MIDDLE EAST PLASTIC INDUSTRIES CO

 

 

ADDRESS

 

Registered & Physical Address

 

Location           : Industrial City, Phase 5

PO Box            : 54432

Town                : Jeddah 21514

Country             : Saudi Arabia

 

Telephone         : (966-2) 6081926

Facsimile          : (966-2) 6081927

Mobile              : (966-53) 0809519

Email                : info@me-pi.com

 

Premises

 

Subject operates from a medium sized suite of offices and a factory that are owned and located in the Industrial Area of Jeddah.

 

Branch Office (s)

 

Location                                                                                               Description

 

Al Selai Industrial City                                                                Office & warehouse premises

PO Box: 22970

Riyadh 11416

Tel: (966-1) 2447174

 

 

KEY PRINCIPALS

 

Name                                                                                       Position

 

Mohamed Hamadah Mutawalli                                                    Managing Partner

 

Mrs Latifah Hamadah Mutawalli                                                  Partner

 

Ahmed Qussad                                                                         General Manager

 

Radwan Al Hafiz                                                                        Production Manager

 

Ahmed Taher                                                                             Finance Manager

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 16th June 1998

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.   : 4030133428, Jeddah

 

Chamber Member No.  : 48292

 

Issued Capital              : SR 5,000,000

 

Paid up Capital            : SR 5,000,000

 

Name of Partner (s)

 

Mohamed Hamadah Mutawalli

 

Mrs Latifah Hamadah Mutawalli

 

Mohamed Ali Abdul Qader Hafiz Co

Jeddah

 

 

OPERATIONS

 

Activities:                     Engaged in the manufacture of plastic materials and plastic display units for supermarkets and shops.

 

Import Countries:         Germany and Japan

 

Operating Trend:          Steady

 

Subject has a workforce of approximately 110 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Saudi Riyals (SR)

 

                                                Year Ending 31/12/10:              Year Ending 31/12/11:

 

Total Sales                                SR 41,000,000                           SR 43,000,000

 

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

 

The above financial figures were confirmed by Ahmed Taher, Finance Manager.

BANKERS

 

National Commercial Bank

Al Balad Branch

King Abdulaziz Street

PO Box: 5066

Jeddah 21422

Tel: (966-2) 6434777

Fax: (966-2) 6441686

 

 

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.62.63

UK Pound

1

Rs.92.94

Euro

1

Rs.68.06

 

 

INFORMATION DETAILS

 

Report Prepared by :

ANK

 

 

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