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Report No. : |
345289 |
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Report Date : |
23.10.2015 |
IDENTIFICATION DETAILS
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Name : |
ASTRA POLYMER
COMPOUNDING CO LTD |
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Registered Office : |
2nd Industrial City, P O Box: 30740, Al Khobar 31952 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
27.10.1413 Hijri
(Corresponding to 19th April, 1993) |
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Com. Reg. No.: |
2050025268,
Dammam |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the production of high-quality masterbatches and dust free
additive systems together with custom-made thermoplastic compounds for the
polymer manufacturing and plastics processing industries. |
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No. of Employees : |
250 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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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) |
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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, 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 : ASTRA
POLYMER COMPOUNDING CO LTD
Country of Origin : Saudi
Arabia
Legal Form : Limited
Liability Partnership
Registration Date : 19th
April 1993
Commercial
Registration Number :
2050025268, Dammam
Chamber Membership
Number : 1594
Issued Capital : SR
20,400,000
Paid up Capital : SR
20,400,000
Total Workforce : 250
Activities :
Production of masterbatches
Financial Condition : Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Saeed Adossi, Finance Manager
ASTRA POLYMER
COMPOUNDING CO LTD
Location : 2nd Industrial City
PO Box : 30740
Town : Al Khobar 31952
Country : Saudi Arabia
Telephone : (966-13) 8121232 / 8121441
Facsimile : (966-13) 8121342
Mobile : (966-50) 6815779 / 4955755
Email : info@astra-polymers.com
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Al Khobar.
Branch Office
(s)
Location Description
·
PO Box:
3863 Rented sales office
Riyadh
11481
Tel: (966-11)
4771488
Fax: (966-11)
4780679
·
Salma Commercial Center, Suite 243, 2nd Floor Rented sales office
Jeddah
Tel: (966-12) 6503811
Name Position
·
Bander
Najer Saqr Al Otaibi Chief
Executive Officer
·
Saeed Adossi Finance
Manager
·
Ahmed
Faraj Commercial
Manager
·
Sebastian
Thomas Production
Manager
Date of Establishment : 27/10/1413
Hijri (corresponding to 19th April 1993)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 2050025268,
Dammam
Chamber Member No. : 1594
Issued Capital : SR 20,400,000
Paid up Capital : SR 20,400,000
·
Astra
Industrial Group 95%
Riyadh
Tel: (966-11) 4752002
·
Astra Industrial Complex 5%
Riyadh
Tel: (966-11) 4752002
Subject is a member of the Astra Group of Companies, which consists of
the following concerns:
·
Arab
Supply & Trading Corporation (ASTRA)
Airport
Road
PO Box: 254
Tabuk
Tel: (966-14) 4220400
Fax: (966-14) 4281584 / 4237649
Email: astra@nour.net.sa
·
Astra
Agricultural Co Ltd
Sitteen Street
Malaz
PO Box: 54061
Riyadh 11514
Tel: (966-11) 4772346 / 4731130
Fax: (966-11) 4782102
·
National
Metal Industries Co Ltd
New Industrial Area
PO Box: 1737
Riyadh 11441
Tel: (966-11) 4982572
Fax: (966-11) 4982580
·
Astra
Industrial Complex For Fertilizer & Agrochemicals Ltd (Astrachem)
Sitteen
Street
Malaz
PO Box: 54061
Riyadh 11514
Tel: (966-11) 4772346
Fax: (966-11) 4782102
Email: astrachem@nournet.com
·
Tabuk
Pharmaceutical Manufacturing Co Ltd
Madinah Road
Tabuk Industrial Area
PO Box: 1486
Tabuk
Tel: (966-14) 283030
Fax: (966-14) 283031
Email: tpmc-r@nournet.com.sa
·
Nour
Communications Co Ltd
Sitteen Street
Al Malaz District
PO Box: 21557
Riyadh 11485
Tel: (966-11) 4776555 / 4728900
Fax: (966-11) 4787171 / 4727727
Email: info@nour.com.sa
·
Saudi Mais Co.
For Medical Products (SMMP)
Al Kharj Road
Third Industrial City
PO Box: 277 & 42801
Riyadh 11383
Tel: (966-11) 2650184 / 2650169 /
2650236 / 2650219
Fax: (966-11)
2650139
Email: medical@mais.com.sa
·
Al Mona
Company
PO Box: 41197
Riyadh 11521
Tel: (966-11) 4981687
·
Saudi
Mais Co for Irrigation Systems Ltd
PO Box: 42801
Riyadh 11551
Tel: (966-11) 4982779
Fax: (966-11) 4983739
·
Astra
Caravan Co Ltd
PO Box: 54061
Riyadh 11514
·
Astra
Pharma
PO Box: 54061
Riyadh 11514
·
Al
Masri Al Khalaf Trading Company
·
Saudi
Mats Co
·
International
Building Systems Factory Co Ltd
·
Astra
Polymer Co
Istanbul
Turkey
·
Astra Polymer Trading
Istanbul
Turkey
·
Astra Polymers Specialities
India
Activities: Engaged in the production
of high-quality masterbatches and dust free additive systems together with
custom-made thermoplastic compounds for the polymer
manufacturing and plastics processing industries.
Subject is ISO
9002 certified.
Import
Countries: Europe and the
United States of America
Operating Trend: Steady
Subject has a
workforce of approximately 250 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 2,147,607,541 SR 2,396,584,840
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Saeed Adossi,
Finance Manager
·
National
Commercial Bank
PO Box: 1
Al Khobar 31952
Tel (966-13) 8949669
Fax (966-13) 8646474
Regular
Credit amount 34,000
Amount overdue 0
Payment terms 180
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Pounds
Sterling
Established in
1993, subject is involved in the production of
high-quality masterbatches and dust free additive systems together with
custom-made thermoplastic compounds for the polymer manufacturing and plastics
processing industries.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.89 |
|
|
1 |
Rs.100.39 |
|
Euro |
1 |
Rs.73.52 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
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.