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MIRA INFORM REPORT
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Report No. : |
499350 |
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Report Date : |
24.03.2018 |
IDENTIFICATION DETAILS
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Name : |
MANSOUR AL MOSAID COMPANY |
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Registered Office : |
Port Area PO Box 14804 & 14238 Jeddah 21424 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2017 |
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Date of Incorporation : |
26.09.1978 |
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Com. Reg. No.: |
4030144087 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Subjects operations are performed through the following
divisions: ·
Forwarding and Clearing Division ·
Trading Division ·
Contracting Division |
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No. of Employees : |
150 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 87% of budget revenues, 42% 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. Over 6 million foreign workers play an important role in the Saudi economy, particularly in the oil and service sectors; at the same time, however, 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 2017, the Kingdom incurred a budget deficit estimated at 8.3% of GDP, which was financed by bond sales and drawing down reserves. Although the Kingdom can finance high deficits for several years by drawing down its considerable foreign assets or by borrowing, it has cut capital spending and reduced subsidies on electricity, water, and petroleum products and plans to introduce a value-added tax. In January 2016, Crown Prince and Deputy Prime Minister MUHAMMAD BIN SALMAN announced that Saudi Arabia intends to list shares of its state-owned petroleum company, ARAMCO - another move to increase revenue and outside investment. The government has also looked at privatization and diversification of the economy more closely in the wake of a diminished oil market. Historically, Saudi Arabia has focused diversification efforts on power generation, telecommunications, natural gas exploration, and petrochemical sectors. More recently, the government has approached investors about expanding the role of the private sector in the health care, education and tourism industries. While Saudi Arabia has emphasized their goals of diversification for some time, current low oil prices may force the government to make more drastic changes ahead of their long-run timeline.
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Source
: CIA |
SUMMARY
Company Name : MANSOUR AL MOSAID COMPANY
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 26th September 1978
Commercial Registration Number : 4030144087, Jeddah
Chamber Membership Number : 96036
Issued Capital : SR 2,000,000
Paid up Capital : SR 2,000,000
Total Workforce : 150
Activities : Subject operates several divisions (see below for details)
Financial Condition : Good
Payments : Regular
Operating Trend : Steady
COMPANY
NAME
MANSOUR AL MOSAID COMPANY
ADDRESS
Registered &
Physical Address
Location :
Port Area
PO Box :
14804 & 14238
Town :
Jeddah 21424
Country : Saudi Arabia
Telephone :
(966-12) 6511532 / 6511293 / 6523150 /
6523162 / 6759104 / 6759105 / 6759106 / 6635617
Facsimile :
(966-12) 6491967 / 6523156 / 6192348
Mobile : (966-50) 5500550 / (966-59) 5862684
Email : info@mmgroup.com.sa / mm@mmgroup.com.sa
Premises
Subject operates from a large suite of offices that are
rented and located in the Port Area of Jeddah.
Branch Office (s)
Location Description
· Mina Road Office
premises
Jeddah
Tel: (966-12) 6492862 / 6492863
KEY
PRINCIPALS
Name Position
· Sheikh
Mansour Al Mosaid Al Sudairy Managing
Partner
· Ahmed Mansour Al Mosaid Al Sudairy Partner
· Afrah Mansour Al Mosaid Al Sudairy Partner
· Hanouf Mansour Al Mosaid Al Sudairy Partner
· Loulah Mansour Al Mosaid Al Sudairy Partner
·
Hafiz Yaseen Abdul
Karim General
Manager
·
Emad Ibrahim Al
Majali Commercial
Manager
· Abdullatif
Hussain Bukhary Administration
Manager
· Mahmoud
Al Baloushi Administration
Executive
· Sharif
Malik Accounts
Manager
LEGAL
FORM & OWNERS
Date of
Establishment :
24/10/1398 Hijri (corresponding to 26th September 1978)
Legal
Form : Limited
Liability Partnership
Commercial
Reg. No. :
4030144087, Jeddah
Chamber
Member No. : 96036
Issued Capital : SR
2,000,000
Paid up Capital : SR
2,000,000
Name
of Partner (s)
· Sheikh
Mansour Al Mosaid Al Sudairy
· Ahmed Mansour Al Mosaid Al Sudairy
· Afrah Mansour Al Mosaid Al Sudairy
· Hanouf Mansour Al Mosaid Al Sudairy
· Loulah Mansour Al Mosaid Al Sudairy
AFFILIATED
COMPANIES
· Mansour Al Mosaid Trading & Contracting Co
Jeddah
Tel:
(966-12) 6511532
OPERATIONS
Activities: Subjects operations are performed
through the following divisions:
·
Forwarding
and Clearing Division
Engaged
in the provision of freight forwarding and clearing services, warehousing and
distribution, packing, crating and transit insurance.
·
Trading
Division
Engaged in the import and distribution of
animal feed and grain.
·
Contracting
Division
Engaged
as general power and telecommunication contractors.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 150 employees.
FINANCIAL
DATA
Financial highlights provided by local sources are given
below:
Currency: Saudi Riyals (SR)
Year
Ending 31/12/16: Year Ending
31/12/17:
Total Sales SR
750,000,000 SR 755,000,000
Local sources consider subject’s financial condition to be
Good.
The above financial figures are based on estimations by our
local sources.
BANKERS
·
National Commercial Bank
King Abdul
Aziz Street
PO
Box: 3555
Jeddah
21481
Tel:
(966-12) 6446644
Fax:
(966-12) 6446644
PAYMENT
HISTORY
Regular
GENERAL
COMMENTS
The subject and its shareholders/owners have been searched
in the following databases; Office of Foreign Assets Control (OFAC), United
Nations Security Council Sanctions, Australian Sanctions List, US Consolidated
Sanctions List, EU Financial Sanctions List and UK Financial Sanctions List and
nothing adverse could be found on the exact names listed within the report.
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 company is deemed 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 |
INR 65.13 |
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1 |
INR 91.95 |
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Euro |
1 |
INR 80.34 |
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SAR |
1 |
INR 17.34 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIS |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low risk
of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably on
secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the business
is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
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Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.