|
Report No. : |
347027 |
|
Report Date : |
02.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
NESMA RECYCLING CO LTD |
|
|
|
|
Registered Office : |
Al Nuzha District, Jeddah 21462, PO Box
7195 &
54744, Jeddah 21524 |
|
|
|
|
Country : |
Saudi
Arabia |
|
|
|
|
Date of Incorporation : |
17.11.1423 Hijri (Corresponding to 20th January 2003) |
|
|
|
|
Com. Reg. No.: |
4030141465, Jeddah |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business : |
Recycling of Scrap Metal and Other Waste Materials (1) |
|
|
|
|
No. of Employees : |
300 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 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. 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.
|
Source
: CIA |
Company
name
NESMA RECYCLING CO LTD |
||||
|
|
||||
|
AssessBR ID |
: |
A -10975 |
||
|
Date |
: |
30-Oct-15 |
||
|
|
||||
ORDER
DETAILS
|
||||
|
|
||||
|
Business/ Subject Name |
: |
NESMA RECYCLING CO LTD |
||
|
Country |
: |
Saudi Arabia |
||
|
PO Box |
: |
54744 Jeddha 21524 KSA |
||
|
Phone (s) |
: |
966 12 605 9588 |
||
|
|
|
966 12
658 1188 |
||
|
|
||||
IDENTIFICATION
& CONTACT DETAILS
|
||||
|
|
||||
|
1) Name (s): |
||||
|
Organization Official Name |
: |
NESMA RECYCLING CO LTD |
||
|
|
||||
|
2) Registered
Address: |
||||
|
Address |
: |
Al Nuzha District |
||
|
Town |
: |
Jeddah 21462 |
||
|
Country |
: |
Saudi Arabia |
||
|
PO Box |
: |
7195 & 54744, Jeddah 21524 |
||
|
Phone (s) |
: |
(966-12) 6581188 |
||
|
|
|
(966-12) 6693322 |
||
|
|
|
(966-12) 6589053 |
||
|
|
|
(966-12) 6589058 |
||
|
|
|
(966-12) 6059588 |
||
|
Facsimile |
: |
(966-12) 6594848 |
||
|
|
|
(966-12) 6587306 |
||
|
Email |
: |
|||
|
|
|
|||
|
Mobile |
: |
(966-50) 4601904 |
||
|
|
|
(966-50) 4401061 |
||
|
|
|
(966-55) 0070033 |
||
|
|
||||
|
3) Operational
Address & Contact Details: |
||||
|
Address |
: |
Al Nuzha District |
||
|
Town |
: |
Jeddah 21462 |
||
|
Country |
: |
Saudi Arabia |
||
|
PO Box |
: |
7195 & 54744, Jeddah 21524 |
||
|
Phone (s) |
: |
(966-12) 6581188 |
||
|
|
|
(966-12) 6693322 |
||
|
|
|
(966-12) 6589053 |
||
|
|
|
(966-12) 6589058 |
||
|
|
|
(966-12) 6059588 |
||
|
Facsimile |
: |
(966-12) 6594848 |
||
|
|
|
(966-12) 6587306 |
||
|
Email |
: |
|||
|
|
|
|||
|
Mobile |
: |
(966-50) 4601904 |
||
|
|
|
(966-50) 4401061 |
||
|
|
|
(966-55) 0070033 |
||
|
: |
||||
LEGAL
FORM & INCORPORATION (REGISTRATION) DETAILS
|
||||
|
|
||||
|
Legal Form - Category |
: |
Limited Liability Partnership |
||
|
Date of Registration |
: |
17/11/1423 Hijri (corresponding to 20th
January 2003) |
||
|
Commercial Registration Number |
: |
4030141465, Jeddah |
||
|
|
||||
OTHER
REGISTRATION/ MEMBERSHIPS
|
||||
|
|
||||
|
Chamber Membership Number |
: |
97742 |
||
KEY
FACTS
|
||||
|
|
||||
|
Operational Status |
: |
Normal |
||
|
Financial Condition |
: |
Undetermined |
||
|
Primary Business Activity |
: |
Recycling of scrap metal and other waste
materials (1) |
||
|
Number of Employees |
: |
300 |
||
|
Capital |
: |
SR 5,000,000 |
||
|
Note: 1 |
||||
|
Engaged in the collection and processing
of discarded paper, metals and plastics. Nesma Recycling provides a comprehensive
range of scrap management and technically advanced scrap handling services
for all types of industry accounts throughout metropolitan Jeddah and the
Kingdom of Saudi Arabia. Extensive scrap processing and preparation is
completed at our facility situated near the industrial area of Jeddah. |
||||
CAPITAL
DETAILS
|
||||
|
|
||||
|
Issued Capital: |
||||
|
NO OF SHARES |
VALUE OF SHARE |
AMOUNT |
||
|
N/A |
N/A |
SR 5,000,000 |
||
|
|
||||
|
Paid Up Capital: |
||||
|
NO OF SHARES |
|
AMOUNT |
||
|
N/A |
N/A |
SR 5,000,000 |
||
|
|
||||
FINANCIAL
DATA
|
||||
|
|
||||
|
Companies registered in Saudi Arabia are
not legally required to make their accounts public and no financial
information was released by the company or submitted by outside sources. |
||||
|
|
||||
BRANCH
OFFICE
|
||||
|
|
||||
|
1 |
Address |
Al Hamra District Jeddah |
||
|
|
Tel |
(966-12) 6693322 |
||
|
|
Fax |
(966-12) 6693322 |
||
|
|
Description |
Office premises Jeddah |
||
|
|
||||
|
2 |
Address |
Jeddah |
||
|
|
Tel |
(966-12) 6378462 |
||
|
|
|
(966-12) 6081430 |
||
|
|
|
(966-12) 6369059 |
||
|
|
Description |
Factory premises |
||
|
|
||||
BANKER
|
||||
|
|
||||
|
1 |
Name |
Arab National Bank (ANB) |
||
|
|
Address |
Madinah Road |
||
|
|
PO Box |
9463 Jeddah 21413 |
||
|
|
Tel |
(966-12) 6600272 |
||
|
|
Fax |
(966-12) 6650202 |
||
|
|
||||
SHAREHOLDERS
|
||||
|
|
||||
|
1 |
Name |
Nesma Holding Co |
||
|
|
PO Box |
7195 Jeddah 21462 |
||
|
|
Tel |
(966-12) 6693322 |
||
|
|
Fax |
(966-12) 6696499 |
||
|
|
Percentage |
90% |
||
|
|
||||
|
2 |
Name |
Sheikh Saleh Ali Abdulrahman Al Turki |
||
|
|
Percentage |
10% |
||
|
|
||||
SENIOR
MANAGEMENT
|
||||
|
|
||||
|
Sr.No |
Name |
Dsignation |
||
|
1 |
Sheikh Saleh Ali Abdulrahman Al Turki |
Managing Partner |
||
|
2 |
Layaqat Ali |
Chief Executive Officer |
||
|
3 |
Khalid Mohsin Layaqat Ali |
Administration Manager |
||
|
4 |
Khalid Takieullah |
Finance Manager |
||
|
5 |
Gaffar Ahmed |
Accountant |
||
|
6 |
Bishrat
Ahmed Layaqat Ali |
Assistant Administration Manager |
||
|
|
||||
AFFILIATED
COMPANIES
|
||||
|
|
||||
|
Subject belongs
to the Nesma group of companies that consists of the following concerns: |
||||
|
Sr.No |
Name |
|||
|
1 |
Nesma Shipping |
|||
|
2 |
Nesma Aviation |
|||
|
3 |
Nesma Orbit |
|||
|
4 |
Unitrade |
|||
|
5 |
Al Faris Al
Arabi Trading Company |
|||
|
6 |
Nesma
Electronics |
|||
|
7 |
Shaheen Arabia
Development Co Ltd |
|||
|
8 |
IBS |
|||
|
9 |
Kaefer |
|||
|
10 |
Nesma &
Partners |
|||
|
11 |
Nesma Eser Onur |
|||
|
12 |
Nesma Havatek |
|||
|
13 |
Al Faris Food
Industries Ltd |
|||
|
14 |
Nesma Batterjee |
|||
|
15 |
Nesma Embroidery |
|||
|
16 |
Nesma Ommat |
|||
|
17 |
Koncar |
|||
|
18 |
Nesma Electric |
|||
|
19 |
Al Bishara |
|||
|
20 |
Nesma Real
Estate |
|||
|
21 |
Jollibee |
|||
|
22 |
Nesma Chocolate |
|||
|
23 |
Nesma Markets |
|||
|
24 |
Financial
Investments Group |
|||
|
25 |
NDigitec |
|||
|
26 |
Nesma Security |
|||
|
27 |
Nesma Trading |
|||
|
28 |
Pannesma Co Ltd |
|||
|
29 |
Jadarah |
|||
|
30 |
Mihnati |
|||
|
31 |
Nesma Advanced
Technology |
|||
|
32 |
Nesma Mahkaa |
|||
|
33 |
Nesma Telecom |
|||
|
34 |
Norconsult |
|||
|
35 |
TCIL |
|||
|
36 |
Bargail |
|||
|
37 |
Istanbul Lines |
|||
|
38 |
Namma Container
Lines |
|||
|
39 |
Namma Cargo |
|||
|
40 |
Namma Shipping
Lines |
|||
|
41 |
NPS |
|||
|
42 |
Negmar |
|||
|
43 |
Nesma Airlines |
|||
|
44 |
Mawaddah |
|||
|
45 |
Namma Tours |
|||
|
46 |
Nesma Travel |
|||
|
|
||||
PREMISES
|
||||
|
|
||||
|
Subject operates from a large suite of
offices and a warehouse that are rented and located in the Suburban Business
Area of Jeddah. |
||||
|
|
||||
PAYMENT
|
||||
|
|
||||
|
No complaints regarding subject’s payments
have been reported. |
||||
|
|
||||
ADVERSE
DATA
|
||||
|
|
||||
|
Performance Defaults |
: |
No record found |
||
|
Payment Defaults |
: |
No record found |
||
|
Adverse Press Coverage |
: |
No record found |
||
|
Litigations |
: |
No record found |
||
|
Former Business Relationships |
: |
No record found |
||
|
|
||||
INVESTIGATOR'S
COMMENTS
|
||||
|
|
||||
|
Person
Interviewed : Khalid Takieullah,
Finance Manager |
||||
|
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.65.22 |
|
|
1 |
Rs.99.93 |
|
Euro |
1 |
Rs.71.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.