MIRA INFORM REPORT
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Report Date : |
12th May 2006 |
IDENTIFICATION DETAILS
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Name : |
AHMED HUSSAIN BA AGIEL
TRADING EST |
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Registered Office : |
Prince Nayef Street, Street
No. 42 408, Dammam 31411 Saudi
Arabia |
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Date of Incorporation : |
1997 |
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Com. Reg. No.: |
2050031451,
Dammam |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Distributors of heavy
industrial machinery and equipment. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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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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Maximum Credit Limit : |
US$ 150,000 |
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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 |
AHMED HUSSAIN BA AGIEL 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 |
1997 |
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Commercial Registration Number |
2050031451, Dammam |
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Membership Number |
31454 |
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Invested Capital |
SR 50,000 |
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Total Workforce |
20 |
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Line of Business |
Distributors of heavy industrial machinery and equipment. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
AHMED HUSSAIN BA AGIEL TRADING EST
ADDRESS
Registered & Physical Address
Location : Prince Nayef Street, Street No. 42
PO Box : 408
Town : Dammam 31411
Country : Saudi Arabia
Telephone : (966-3) 8179057 / 8175763 / 8179037
Facsimile : (966-3) 8175851
Mobile : (966-50) 5811634
Email : ahmed@habasa.com
Premises
Subject operates from a small suite of offices and a warehouse that are rented and located in the Central Business Area of Dammam.
KEY PRINCIPALS
Ahmed Hussain Ba Agiel Proprietor & General Manager
Gamal Ahmed Hussain Ba Agiel Assistant General Manager
LEGAL FORM & OWNERS
Date of Establishment : 02/06/1417 Hijri (corresponding to 1997)
Legal Form : Sole Proprietorship
Commercial Reg. No. : 2050031451, Dammam
Membership No. : 31454
Invested Capital : SR 50,000
Mr Ahmed Hussain Ba Agiel 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 heavy industrial machinery and equipment, including chains, sprockets,
clamps, couplings, hoses and fittings.
Import Countries : Europe and Japan.
Brand Names : CATERPILLAR, VOLVO and MITSUBISHI.
Operating Trend : Steady
Subject has a workforce of 20 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 4,820,000 SR 5,125,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
National Commercial Bank
PO Box : 13
Dammam 31411
Tel : (966-3) 8331188
Fax : (966-3) 8336058
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1997, subject is owned and managed by Mr Ahmed Hussain Ba Agiel 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 company is considered to be a fair trade risk.
Maximum suggested credit figure: US$ 150,000
RATING EXPLANATIONS
RATING
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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 |