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MIRA INFORM REPORT
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Report No. : |
506446 |
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Report Date : |
02.05.2018 |
IDENTIFICATION DETAILS
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Name : |
OMAR KASEM ALESAYI MARKETING CO LTD (OKAM) |
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Registered Office : |
Frimex Plaza, Ibrahim Al Juffali Street, Al Andalus District, PO Box
8680, Jeddah 21492 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
25.12.1999 |
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Com. Reg. No.: |
4030129147, Jeddah |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is engaged in the import and distribution of foodstuffs
including, biscuits, wafers, potato chips, snacks, evaporated milk, full cream
milk powder, flavoured milk, tomato paste, peanut butter, rice and canned
peas, beans and tuna. |
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No. of Employees : |
500 |
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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
|
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 :
OMAR KASEM ALESAYI MARKETING CO LTD (OKAM)
Country of Origin :
Saudi Arabia
Legal Form :
Limited Liability Company
Registration Date :
25th December 1999
Commercial Registration Number :
4030129147, Jeddah
Chamber Membership Number :
73872
Issued Capital :
SR 300,000,000
Paid up Capital :
SR 300,000,000
Total Workforce :
500
Activities :
Distributors of general foodstuffs
Financial Condition :
Undetermined
Payments :
No Complaints
Person Interviewed :
Haytham Abdulrahim, Administration Manager
COMPANY
NAME
OMAR KASEM ALESAYI MARKETING CO LTD (OKAM)
ADDRESS
Registered &
Physical Address
Building :
Frimex Plaza
Street : Ibrahim Al
Juffali Street
Area : Al Andalus
District
PO Box :
8680
Town : Jeddah 21492
Country : Saudi Arabia
Telephone : (966-12)
6445121 / 6685353
Facsimile : (966-12)
6081135 / 6436876
Mobile : (966-50)
5699065
Email : info@okam.com.sa
/ a_alarabi@okam.com.sa
/ anas@okam.com.sa
Please note that subject’s previous address was, Alesayi Plaza, 6th
Floor, Madinah Road, Baghdadiya, Jeddah.
Premises
Subject operates from a large suite of offices that are owned and
located in the Central Business Area of Jeddah.
Branch Office (s)
Location Description
Industrial Area, Phase No. 5 Warehouse
premises
Jeddah
KEY
PRINCIPALS
Name Position
Omar Kasem Alesayi Managing
Director
Abdulrahman Hayel General
Manager
Ali Ba Khalagi Marketing
Manager
Ali Al Arabi Financial
Manager
Haytham Abdulrahim Administration
Manager
Mohamed Abu Aseshi Financial
Controller
Anas Al Nafori Legal
Manager
LEGAL
FORM & OWNERS
Date of Establishment : 18/09/1420 Hijri
(corresponding to 25th December 1999)
Legal Form : Limited Liability
Company
Commercial Reg. No. : 4030129147,
Jeddah
Chamber Member No. : 73872
Issued Capital : SR 300,000,000
Paid up Capital : SR 300,000,000
Name of Partner
(s)
Percentage
Omar Kasem Alesayi & Partner Co Ltd 50%
Jeddah
Faremex Co Ltd 50%
Jeddah
AFFILIATED
COMPANIES
Subject is a member of the well known Alesayi Group which has operations
in Saudi Arabia, the Middle East, Europe and the United States of America. The
group is owned by four Saudi brothers, namely Ali Abdullah Al Esayi, Omar Kasem
Alesayi, Saeed Omar Kasem Alesayi and Mohamed Omar Kasem Alesayi.
The Esayi Group
includes the following companies:
Alesayi Trading Corporation (ATC)
Al Esayi Building
Makkah Road, Kilo 11
PO Box: 1342
Jeddah 21431
Tel: (966-12) 6202000 / 6206384 / 6878444
Fax: (966-12) 6206469 / 6872201
Alesayi United Co for Trading & Industry Ltd
Kaki Centre, 9th Floor
Madinah Road
PO Box: 3035
Jeddah
Tel: (966-12) 6650606 / 6694978
Fax: (966-12) 6653064
National Animal Production & Agricultural Development Co (NAPADCO)
PO Box: 6456
Riyadh 11442
Tel: (966-11) 4773660
Fax: (966-11) 4785015
Omar K Alesayi Office for Engineering & Architectural Contracting Co
Binzagr Building
Makkah Road
Kilo 5
PO Box: 2837
Jeddah 21461
Tel: (966-12) 6884121
CR No. 4030005787
Omar K Alesayi & Co Ltd
Bugshan Building
PO Box: 8361
Jeddah 21482
Tel: (966-12) 6440224
Fax: (966-12) 6445659
CR No. 4030022907
Al Tawfiq Co for Plastic & Chemical Industries Ltd
PO Box: 8680
Jeddah 21492
Tel: (966-12) 6445121 / 6445135
Fax: (966-12) 6436876
Arabian Chemical Investment Corporation
PO Box: 5958
Jeddah 21432
Tel: (966-12) 6534848
Fax: (966-12) 6530328
National Biscuit & Confectionery Factory
PO Box: 30972
Jeddah 21487
Tel: (966-12) 6360606
Fax: (966-12) 6376183
Alesayi & Al Horaibi Co Ltd
Al Mirah Bahareth Building, 2nd Floor
Gold Street
PO Box: 436
Jeddah
Tel: (966-12) 6422723
Fax: (966-12) 6444632
Alesayi Travel Agency
Madinah Road
PO Box: 9106
Jeddah 21413
Tel: (966-12) 6533716
Fax: (966-12) 6519844
CR No. 4030030430
Holker Seadly Saudi Arabia
Jeddah
GRC Hollow Core Factor
Jeddah
Omar K Alesayi Trading & General Contracting Est
Jeddah
Esayi Saif Noman Douglas Ltd (ASAD)
Palestine Street
PO Box: 10180
Jeddah 21433
Tel: (966-12) 6712069
Fax: (966-12) 6720854
CR No. 4030015602
International Spare Parts Trading & Manufacturing Co Ltd
PO Box: 51482
Riyadh 11543
Tel: (966-11) 2318882
Fax: (966-11) 2315696
Omar Kasem Alesayi Textile Company Ltd
PO Box: 3035
Jeddah 21471
Tel: (966-12) 2315696
ASA Co Ltd
PO Box: 324
Osaka
Japan
Arwa Industries, Trading & Contracting Co Ltd
PO Box: 883
Sana’a
Republic of Yemen
National Company for Sponge & Plastic Industries Ltd
PO Box: 5302
Taiz
Republic of Yemen
Tel: (967-4) 210730
Arab Clothing Company
Cairo
Egypt
Omaco International Inc
230, Park Avenue
10169 New York
United States of America
Swicorp Finance SA
9, Place de la Fusterie
CH-1204 Geneva
Switzerland
United Carton Industries Co Ltd
PO Box: 31503
Jeddah 21418
Tel: (966-12) 6375909
Fax: (966-12) 6368789
United Feed Co
Alesayi Plaza, 4th Floor
PO Box: 8680
Jeddah
Al Tawfiq for Plastic & Woven Sacks
PO Box: 32368
Jeddah 21428
Tel: (966-12) 6081040
Fax: (966-12) 6380549
National Food Industries Co Ltd
PO Box: 32040
Jeddah 21428
Tel: (966-12) 6081515
Fax: (966-12) 6367938
OPERATIONS
Activities: Engaged in the import and distribution of foodstuffs including,
biscuits, wafers, potato chips, snacks,
evaporated milk, full cream milk powder,
flavoured milk, tomato paste, peanut butter, rice and canned
peas, beans and tuna.
Import Countries: India, Pakistan, Egypt, Europe and the Far East
Subject has a workforce of approximately 500 employees.
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.
BANKERS
National Commercial Bank
Al Balad Branch
King Abdulaziz Street
PO Box: 5066
Jeddah 21422
Tel: (966-12) 6434777
Fax: (966-12) 6441686
PAYMENT
HISTORY
No complaints regarding subject’s payments have been reported.
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.
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 |
INR 66.78 |
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|
1 |
INR 92.89 |
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Euro |
1 |
INR 80.74 |
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SAR |
1 |
INR 17.77 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
NIS |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
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
·
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.