MIRA
INFORM REPORT
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Report Date : |
20th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
ABDELAZIZ MOHAMED SALEH EL GHAMEDI EST |
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Registered Office : |
Al Zaher Makkah Dhiafa Street Al Bandar, 2903, Makkah, Saudi Arabia |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
2003 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of aluminium products. |
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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Maximum Credit Limit : |
EUR 300,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
SUMMARY
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Company Name |
ABDELAZIZ MOHAMED SALEH EL GHAMEDI EST |
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Country of Origin |
Saudi Arabia |
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Legal Form |
Sole Proprietorship |
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Registration Date |
2003 |
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Membership Number |
20069 |
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Invested Capital |
SR 150,000 |
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Total Workforce |
16 |
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Line of Business |
Distributors of aluminium products. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
ABDELAZIZ MOHAMED SALEH EL GHAMEDI EST
ADDRESS
Registered & Physical Address
Street : Al Zaher Makkah Dhiafa Street
Area : Al Bandar
PO Box : 2903
Town : Makkah
Country : Saudi Arabia
Telephone : (966-2) 5732474 / 5442604
Facsimile : (966-2) 5442604
Mobile : (966-55) 5501944
Premises
Subject operates from a small suite of offices and a warehouse that are rented and located in the Central Business Area of Makkah.
KEY PRINCIPALS
Abdelaziz Ben Mohamed Saleh El Ghamedi Proprietor & General Manager
LEGAL FORM & OWNERS
Date of Establishment : 19/01/1423 Hijri (corresponding to 2003)
Legal Form : Sole Proprietorship
Membership No. : 20069
Invested Capital : SR 150,000
Mr Abdelaziz Ben Mohamed Saleh El Ghamedi is the sole proprietor of the business.
Note to the Legal Form
Commonly referred to as an establishment, the Company Law defines a Sole Proprietorship as the business of an individual where liability for all debts is unlimited. The business is the entire responsibility of its proprietor, who is liable for all its debts to the extent of his entire wealth. There are no legal requirements concerning the amount of capital of a sole proprietor.
LINE OF BUSINESS
Operations :
Engaged in the import and distribution of aluminium products.
Import Countries : Europe and the Far East.
Operating Trend : Steady
Subject has a workforce of 16 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Saudi Riyals (SR)
Year Ending 31/12/04 Year Ending 31/12/05
Total Revenue SR 3,150,000 SR 4,800,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Al Rajhi Banking & Investment Corporation
Al Mahjar Road
Jeddah
Tel : (966-2) 6377810
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of EUR 300,000:
Established in 2003, subject is owned and managed by Mr Abdelaziz Ben Mohamed Saleh El Ghamedi who is well respected in the local business community.
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 business is considered to be a fair trade risk and the above credit figure is deemed to be within subject’s financial means.
Maximum suggested credit figure: EUR 300,000
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |