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Report No. : |
349094 |
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Report Date : |
16.11.2015 |
IDENTIFICATION DETAILS
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Name : |
RIYADH COLUMNS
FOR PLASTIC |
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Registered Office : |
Al Shifaa Industrial Area 33409 Riyadh 11468 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
15.05.2002 |
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Com. Reg. No.: |
1010176946, Riyadh |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Engaged in the manufacture
of plastic bags, rolls, table covers and plastic tanks. |
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No. of Employee : |
120 |
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
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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. 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 : RIYADH
COLUMNS FOR PLASTIC
Country of Origin : Saudi
Arabia
Legal Form : Sole
Proprietorship
Registration Date : 15th
May 2002
Commercial
Registration Number : 1010176946, Riyadh
Chamber Membership
Number : 146595
Invested Capital :
SR 1,550,000
Total Workforce :
120
Activities :
Manufacturers of plastic bags, rolls, table covers and plastic tanks.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Alaa Saber, Financial Controller
RIYADH COLUMNS FOR
PLASTIC
Location : Al Shifaa Industrial Area
PO Box : 33409
Town : Riyadh 11468
Country : Saudi Arabia
Telephone : (966-11) 4234819 / 4234764
Facsimile : (966-11) 4323676
Mobile : (966-50)
7037103
Email : info@riyadh-columns.com
Subject operates
from a medium sized suite of offices that are rented and located in the
Industrial Area of Riyadh.
Name Position
·
George
Antoun Makarzal Proprietor
& General Manager
·
John
Antoun Assistant
General Manager
·
Alaa Saber Financial
Controller
Date of Establishment : 03/03/1423
Hijri (corresponding to 15th May 2002)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1010176946, Riyadh
Chamber Member No. : 146595
Invested Capital
: SR 1,550,000
Mr George Antoun
Makarzal is the sole proprietor of the business.
·
Riyadh
Columns Carton Factory
4th Industrial Area
Al Kharj Road
Riyadh 11468
Tel: (966-11) 2652523 / 2651271 / 2651307 /
2241177
Fax: (966-11) 2651042 / 2652558 / 2983487
Activities: Engaged in the manufacture of plastic bags,
rolls, table covers and plastic tanks.
Import
Countries: Europe and the
Far East
Local Suppliers:
·
SABIC
·
Petro Rabigh
Operating Trend: Steady
Subject has a
workforce of 120 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 39,650,000 SR 41,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Alaa Saber,
Financial Controller
·
National
Commercial Bank
Airport Road
PO Box: 2800
Tel: (966-11) 4772281
Fax: (966-11) 4730322
No complaints
regarding subject’s payments have been reported.
Local sources report
that the subject’s operating history is clear with payment obligations met in a
generally timely manner. The financial position is satisfactory and the
business is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.14 |
|
|
1 |
Rs.100.55 |
|
Euro |
1 |
Rs.71.26 |
INFORMATION DETAILS
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Analysis Done by
: |
KIN |
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Report Prepared
by : |
ANK |
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.