MIRA
INFORM REPORT
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Report Date : |
27.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
AL AWAEL AL
SABAEH MEDICAL SERVICES CO |
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Registered Office : |
Al Najaeh Street,
P O Box 5074, Al Hasa 31982 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1999 |
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Com. Reg. No.: |
2050034817, Al Hasa |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the import
and distribution of medical products. |
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$ 350,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : AL AWAEL AL SABAEH MEDICAL SERVICES CO
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 1999
Commercial Registration Number : 2050034817, Al Hasa
Membership Number : 10332
Issued Capital : SR 2,500,000
Paid up Capital : SR 2,500,000
Total Workforce : 150
Line of Business : Distributors of medical products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL AWAEL AL SABAEH
MEDICAL SERVICES CO
ADDRESS
Registered & Physical Address
Location : Al Najaeh Street
PO Box : 5074
Town : Al Hasa 31982
Country : Saudi Arabia
Telephone : (966-3) 5854049 / 5822477
Facsimile : (966-3) 5851093
Mobile : (966-50) 4590931
Email : info@awael.com.sa
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are owned and located
in the Central Business Area of Al Hasa.
Branch Offices
Location Description
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Dammam Office
premises
Tel : (966-3) 8508220
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Riyadh Office premises
Tel : (966-1) 4830101
KEY PRINCIPALS
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Dr Mohamed
Moosa Al Guraimi Managing
Partner
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Adel Moosa Al
Guraimi Partner
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Ahmed Moosa Al
Guraimi Partner
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Fadil Moosa Al
Guraimi Partner
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Abdul Hadi
Moosa Al Guraimi Partner
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Hassan Moosa
Al Guraimi Partner
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Ali Moosa Al
Guraimi Partner
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Moayad Mohamed
Al Guraimi General
Manager
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Ammar Madouk Commercial
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 05/09/1419
Hijri (corresponding to 1999)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 2050034817,
Al Hasa
Membership No. : 10332
Issued Capital : SR 2,500,000
Paid up Capital : SR 2,500,000
Name of Partner (s)
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Dr Mohamed
Moosa Al Guraimi
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Adel Moosa Al
Guraimi
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Ahmed Moosa Al
Guraimi
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Fadil Moosa Al
Guraimi
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Abdul Hadi
Moosa Al Guraimi
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Hassan Moosa
Al Guraimi
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Ali Moosa Al
Guraimi
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.
AFFILIATED COMPANIES
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Al Awael Al
Sabaeh Trading Est
King Abdulaziz Street
Al Aziziah Area
PO Box : 3199
Dammam 31471
Tel : (966-3) 8170254 / 8170531 / 5854049
Fax : (966-3) 8170531 / 5851093
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
medical products.
Import Countries
: Europe and the Far East.
Operating Trend
: Steady
Subject has a
workforce of 150 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 18,500,000 SR 20,960,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Al Bank Al
Saudi Al Hollandi
King Abdulaziz Street
PO Box : 70
Dammam 31411
Tel
: (966-3) 8340000
Fax : (966-3) 8333585
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of transaction April 2006
Credit amount 30,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Euros
GENERAL COMMENTS
Established in
1999, subject is owned and managed by members of the Al Guraimi family who are 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: US$ 350,000
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%)