MIRA
INFORM REPORT
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Report Date : |
01.08.2007 |
IDENTIFICATION DETAILS
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Name : |
ABDULLAH SALIM AL
GOTHMI EST |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1956 |
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Com. Reg. No.: |
4030055402, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the wholesale
and retail of Mercedes-Benz and BMW spare parts. |
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 : |
Usually correct |
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Litigation : |
Clear |
SUMMARY
Company Name : ABDULLAH SALIM AL GOTHMI EST
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 1956
Commercial Registration Number : 4030055402, Jeddah
Invested Capital : SR 1,500,000
Total Workforce : 16
Line of Business : Wholesale and retail of Mercedes-Benz and BMW spare parts.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
ABDULLAH SALIM AL
GOTHMI EST
ADDRESS
Registered & Physical Address
Location : Makkah Road, Kilo 3
PO Box : 367
Town : Jeddah 21411
Country : Saudi Arabia
Telephone : (966-2) 6318636 / 6881289
Facsimile : (966-2) 6310954
Premises
Subject operates
from a small suite of offices and a showroom with storage facilities that are
rented and located in the Suburban Business Area of Jeddah.
Branch Office (s)
Location Description
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Al
Montazah Street Rented
showroom premises
Old Industrial City
PO Box 3740
Riyadh 11481
Tel: (966-1) 4468638
KEY PRINCIPALS
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Abdullah
Salim Al Gothmi Proprietor
& General Manager
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Abdullah
Balhareth Operations
Manager
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Ahmed
S. Badbod Marketing
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1956
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030055402,
Jeddah
Invested Capital
: SR 1,500,000
Mr Abdullah Salim
Al Gothmi is the sole proprietor of the business.
Note to the Legal Form
Commonly referred to as an establishment, the Company Law defines Mouassasa Khassa 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
Mercedes-Benz and BMW spare parts.
Import
Countries: Germany
Operating Trend
: Steady
Subject has a
workforce of 16 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 5,290,000 SR 5,525,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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National
Commercial Bank
Al Balad Branch
King Abdulaziz Street
PO Box : 5066
Jeddah 21422
Tel : (966-2) 6434777
Fax : (966-2) 6441686
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Arab
National Bank (ANB)
Madinah Road
PO Box : 9463
Jeddah 21413
Tel : (966-2) 6600272
Fax : (966-2) 6650202
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
Date of transaction July 2006
Credit amount 250,000
Amount overdue 0
Payment terms 90
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Euros
GENERAL COMMENTS
Abdullah Salim Al
Gothmi Est is engaged in the wholesale and retail of Mercedes-Benz and BMW
spare parts, and is well established 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
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%)