MIRA
INFORM REPORT
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Report Date : |
02.08.2007 |
IDENTIFICATION DETAILS
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Name : |
JAZIRA CO LTD |
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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 : |
18th April 1989 |
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Com. Reg. No.: |
1010071690, |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import and distribution
of a wide range of domestic and office furniture items, as well as soft
furnishing materials, curtains and decorative accessories. |
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$ 300,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : JAZIRA CO LTD
Also Known As : JAZIRA FURNISHING & DECORATION CO
Country of Origin :
Legal Form : Limited Liability Partnership
Registration Date : 18th April 1989
Commercial Registration Number :
1010071690,
Membership Number : 37133
Issued Capital : SR 3,500,000
Paid up Capital : SR 3,500,000
Total Workforce : 65
Line of Business : Import and distribution of furniture, as well furniture
fitting and decorating contracting services.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
JAZIRA CO LTD
ALSO KNOWN AS
JAZIRA FURNISHING
& DECORATION CO
ADDRESS
Registered & Physical Address
Location : King Faisal Street
PO Box : 9821
Town :
Country : Saudi Arabia
Telephone : (966-1) 4632631 / 2934742
Facsimile : (966-1) 4645910 / 2934724
Premises
Subject operates
from a medium sized suite of offices, a warehouse and a showroom that are
rented and located in the Central Business Area of Riyadh.
Branch Office (s)
Location Description
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Jeddah Rented
showroom & warehouse
Tel : (966-2) 6650586
KEY PRINCIPALS
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Hader
Bin Ali Al Arifi Managing
Partner
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Omar
Abdulaziz Al Shatri Partner
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Abdullah
Al Farhan General
Manager
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Hussain
Khazaal Commercial
Manager
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Alaa
Fahmy Financial
Controller
LEGAL FORM & OWNERS
Date of Establishment : 18th
April 1989
Legal Form :
Sharikat Tadhamun Bill
Asshum (Limited Liability
Partnership)
Commercial Reg. No. : 1010071690,
Riyadh
Membership No. : 37133
Issued Capital : SR 3,500,000
Paid up Capital : SR 3,500,000
Name of Partner (s)
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Hader
Bin Ali Al Arifi
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Omar
Abdulaziz Al Shatri
LINE OF BUSINESS
Operations : Subject is engaged in the import and
distribution of a wide range of domestic and office furniture items, as well as
soft furnishing materials, curtains and decorative accessories.
Subject also provides furniture fitting and interior decorating
contracting services.
Clients : Subject’s clients include the Sheraton
Hotel, the Mecca Hotel and the Hilton Hotel in
Import Countries
: The United Kingdom and
the United States of America.
Sole Agents for
:
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Silentglaze United Kingdom
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Textra
Fabrics United Kingdom
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NBK Inc United States of America
Operating Trend : Steady
Subject has a
workforce of 65 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 30,250,000 SR 31,690,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Al Bank
Al Saudi Al Fransi
Mather Road
PO Box : 56006
Riyadh 11554
Tel : (966-1) 4042222
Fax : (966-1) 4042311
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Al
Rajhi Banking & Investment Corporation
PO Box : 28
Riyadh 11411
Tel : (966-1) 4054647 / 4054244
Fax : (966-1) 4044753 / 4052950 / 4037156
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of transaction February 2001
Credit amount 200,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Deutsch
Marks
GENERAL COMMENTS
Jazira Co Ltd has
been trading since 1989 and is engaged in the import and distribution of
furniture, as well furniture fitting and decorating contracting services. The
company has a prestigious client portfolio and deals with several reputable
international suppliers.
The business is
owned by Mr Hader Bin Ali Al Arifi and Mr Omar Abdulaziz Al Shatri who are
wealthy businessmen with many years experience in the furniture market.
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$ 300,000
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%)