MIRA
INFORM REPORT
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Report Date : |
22.08.2007 |
IDENTIFICATION DETAILS
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Name : |
ABDUL RAB MOHAMED
ALSILANI EST |
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Registered Office : |
Habib
Commercial Centre, Bab Sharif Area, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
27th October 1985 |
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Com. Reg. No.: |
4030002564, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the wholesale
and retail of ready made garments. |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : ABDUL RAB MOHAMED ALSILANI EST
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 27th October 1985
Commercial Registration Number : 4030002564, Jeddah
Membership Number : 40244
Invested Capital : SR 50,000
Total Workforce : 18
Line of Business : Wholesalers and retailers of ready made garments.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
ABDUL RAB MOHAMED
ALSILANI EST
ADDRESS
Registered & Physical Address
Building : Habib Commercial Centre
Area : Bab Sharif Area
PO Box : 16881
Town : Jeddah 21474
Country :
Telephone : (966-2) 6450125 / 6483807 / 6441405
Facsimile : (966-2) 6441405 / 6471691
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 Office (s)
Location Description
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Corniche Centre Office
premises
Jeddah
Tel : (966-2) 6446279
KEY PRINCIPALS
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Abdul
Rab Mohamed Alsilani Proprietor
& General Manager
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Walid
Alsilani Assistant
General Manager
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Faisal
Alsilani Commercial
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 12/02/1406
Hijri (corresponding to 27th October 1985)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030002564,
Jeddah
Membership No. : 40244
Invested Capital
: SR 50,000
Mr Abdul Rab Mohamed Alsilani 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
ready made garments.
Import Countries
: Europe and the
Operating Trend
: Steady
Subject has a
workforce of 18 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 3,675,000 SR
3,920,000
Local sources consider
subject’s financial condition to be Fair.
BANKERS
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National
Commercial Bank
PO Box : 3555
Jeddah 21481
Tel : (966-2) 6446644
Fax : (966-2) 6446644
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
1985, subject is owned and managed by Mr Abdul Rab Mohamed Alsilani 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
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$ 150,000
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. |
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%)