MIRA
INFORM REPORT
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Report Date : |
28th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
DARUSSALAM TRADING EST |
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Country : |
Prince Abdulaziz Street, 22743, Riyadh 11426 Saudi Arabia |
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Financials (as on) : |
31-12-2005 |
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Date of Incorporation : |
1998 |
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Com. Reg. No.: |
1010148614, Riyadh |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Publishing house. |
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 : |
US$ 600,000 |
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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 |
DARUSSALAM TRADING EST |
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Country of Origin |
Saudi Arabia |
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Legal Form |
Sole Proprietorship |
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Registration Date |
1998 |
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Commercial Registration Number |
1010148614, Riyadh |
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Membership Number |
16904 |
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Invested Capital |
SR 1,000,000 |
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Total Workforce |
90 |
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Line of Business |
Publishing house. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
DARUSSALAM TRADING EST
ADDRESS
Registered & Physical Address
Location : Prince Abdulaziz Street
PO Box : 22743
Town : Riyadh 11426
Country : Saudi Arabia
Telephone : (966-1) 4033962
Facsimile : (966-1) 4021659
Mobile : (966-50) 4456257
Email : info@darussalampk.com
Premises
Subject operates from a medium sized suite of offices that are rented and located in the Central Business Area of Riyadh.
Branch Office (s)
Location Description
Olaya Office premises
Riyadh
Tel : (966-1) 4614483
Jeddah Office premises
Tel : (966-2) 6807752
Al Khobar Office premises
Tel : (966-3) 8691551
KEY PRINCIPALS
Abdul Rahim Al Moataz Proprietor & General Manager
Abdul Malik Mujahid Assistant General Manager
Mohamed Arif Commercial Manager
Nadeem Akhtar Amber Jeddah Branch Manager
Mohamed Yousuf Wattoo Riyadh Branch Manager
Athar Adeel Al Khobar Branch Manager
LEGAL FORM & OWNERS
Date of Establishment : 15/09/1418 Hijri (corresponding to 1998)
Legal Form : Sole Proprietorship
Commercial Reg. No. : 1010148614, Riyadh
Membership No. : 16904
Invested Capital : SR 1,000,000
Mr Abdul Rahim Al Moataz 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 as a multilingual international publishing house which has published
more than 400 Islamic titles in 11 languages.
Operating Trend : Steady
Subject has a workforce of 90 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 67,000,000 SR 74,180,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
National Commercial Bank
Batha Branch
PO Box : 34
Riyadh 11411
Tel : (966-1) 4010076 / 4025084
Fax : (966-1) 4034625
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1998, subject acts as a
multilingual international publishing house which has published more than 400
Islamic titles in 11 languages.
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.
Maximum suggested credit figure: US$ 600,000
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 |