MIRA
INFORM REPORT
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Report Date : |
23rd
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
AL
TAJAMUA INTERNATIONAL FOR REAL ESTATE DEVELOPMENT CO |
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Registered Office : |
Najd
Building, 3rd Floor, Office No. 303 Al
Tahlia Street, 9789 Jeddah
21423, Saudi Arabia |
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Country : |
Saudi
Arabia |
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Date of Incorporation : |
2006 |
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Com. Reg. No.: |
4030153725, Jeddah |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Providers of real estate services. |
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 : |
Regular
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Litigation : |
Clear |
SUMMARY
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Company Name |
AL TAJAMUA INTERNATIONAL FOR REAL ESTATE DEVELOPMENT CO |
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Country of Origin |
Saudi Arabia |
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Legal Form |
Limited Liability Partnership |
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Registration Date |
2006 |
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Commercial Registration Number |
4030153725, Jeddah |
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Membership Number |
102842 |
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Issued Capital |
SR 1,000,000 |
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Paid up Capital |
SR 1,000,000 |
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Total Workforce |
20 |
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Line of Business |
Providers of real estate services. |
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Financial Condition |
Undetermined |
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Payments |
Nothing detrimental uncovered |
COMPANY NAME
AL
TAJAMUA INTERNATIONAL FOR REAL ESTATE DEVELOPMENT CO
ADDRESS
Registered
& Physical Address
Building : Najd Building, 3rd
Floor, Office No. 303
Street : Al Tahlia Street
PO Box : 9789
Town : Jeddah 21423
Country : Saudi Arabia
Telephone : (966-2) 6607733
Facsimile : (966-2) 6648305
Email : altajamua@altajamua.com
Premises
Subject
operates from a small suite of offices that are rented and located in the
Central Business Area of Jeddah.
Branch
Office (s)
Location Description
Taif Office
premises
Tel :
(966-2) 7501111
KEY PRINCIPALS
Ali Al
Akhader Al Kaim Managing
Partner
Hesham
Ali Al Akhader Al Kaim Partner
Wafa
Karmali Partner
Dr Abdul
Qader Tankul General
Manager
LEGAL FORM & OWNERS
Date
of Establishment : 2006
Legal
Form : Limited Liability Partnership
Commercial
Reg. No. : 4030153725, Jeddah
Membership
No. : 102842
Issued
Capital : SR 1,000,000
Paid
up Capital : SR 1,000,000
Name of
Partner (s)
Ali Al
Akhader Al Kaim
Hesham
Ali Al Akhader Al Kaim
Wafa
Karmali
Notes to the legal Form
A Limited Liability Partnership is a private entity formed by two or more partners who are liable for company debts to the extent of their contributed capital. A maximum of 50 partners are allowed in such a company. The total share capital must be SR 500,000 or more, divided into non-negotiable shares of equal value. The company may not include in its objects the conduct of banking, insurance or savings.
LINE OF BUSINESS
Operations
: Engaged in the
provision of real estate services, including housing
developments, construction management, engineering consultancy, real estate
marketing, real estate management and contracting services.
Subject
has a workforce of 20 employees.
FINANCIAL HIGHLIGHTS
Subject
is a newly formed business and as a result financial information is not
currently available.
BANKERS
Riyad
Bank
Prince
Fahad Street
PO Box :
9324
Jeddah
21413
Tel :
(966-2) 6513333
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of EUR 150,000:
Investigations
undertaken in Jeddah did not reveal any sign of payment defaults or delays
during initial trading stages, and subject is believed to meet its payment
obligations in a timely manner, nevertheless, and in view of the company’s
infancy and the lack of a more consistent payment and financial record, a
measure of caution is advisable and a close monitoring of subject’s business
development is recommended.
Maximum
suggested credit figure: EUR 150,000
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 |