MIRA
INFORM REPORT
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Report Date : |
25.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
KAWTHAR TRADING
EST |
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Registered Office : |
Bab Mecca Street,
P O Box 17209, Jeddah 21484 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
17th January 1989 |
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Com. Reg. No.: |
4030007457, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the wholesale
and retail of textiles and fabrics. |
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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Maximum Credit Limit : |
US$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
SUMMARY
Company Name : KAWTHAR TRADING EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 17th January 1989
Commercial Registration Number : 4030007457, Jeddah
Membership Number : 4875
Invested Capital : SR 500,000
Total Workforce : 15
Line of Business : Wholesalers and retailers of textiles and fabrics.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
KAWTHAR TRADING EST
ADDRESS
Registered & Physical Address
Location : Bab Mecca Street
PO Box :
17209
Town : Jeddah 21484
Country : Saudi Arabia
Telephone : (966-2) 6451384
Facsimile : (966-2) 6424244
Email : amirahmed@al-dar.com
Premises
Subject operates from
a small suite of offices and a showroom that are rented and located in the
Central Business Area of Jeddah.
Branch Offices
Location Description
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Riyadh Rented
showroom premises
Tel : (966-1) 4080780
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Madina Rented
showroom premises
Tel : (966-4) 8373949
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Mecca Rented
showroom premises
KEY PRINCIPALS
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Saeed Ali
Habibullah Proprietor
& General Manager
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Ahmed
Abdulkarim Assistant
General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 09/06/1409
Hijri (corresponding to 17th January 1989)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030007457,
Jeddah
Membership No. : 4875
Invested Capital
: SR 500,000
Mr Saeed Ali Habibullah 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 wholesale and retail of
textiles and fabrics.
Import Countries
: Europe and GCC countries.
Operating Trend
: Steady
Subject has a
workforce of 15 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : Saudi
Riyals (SR)
Year Ending
31/12/05 : Year
Ending 31/12/06 :
Total Revenue SR 6,800,000 SR
7,120,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Bank Al Jazira
Khalid Bin Al Waleed Street
Jeddah 21442
Tel
: (966-2) 6525244
Acc No. 0840 222564-001
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
1989, subject is owned and managed by Mr Saeed
Ali Habibullah who is well respected in the local business community.
Local sources report
that the subject’s operating history is clear with payment obligations met in a
generally timely manner. The financial position is satisfactory and the
business is deemed a fair trade risk.
Maximum suggested
credit figure: US$ 200,000
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 |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)