MIRA
INFORM REPORT
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Report Date : |
07.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
NATIONAL
EST FOR AGRICULTURE & INDUSTRIAL SULPHUR |
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Registered Office : |
Dammam Highway, P
O Box 3891, Dammam 31481 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
20th December 1981 |
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Com. Reg. No.: |
2050000621, Dammam |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import
and distribution of general agriculture and sulphur
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : NATIONAL EST FOR AGRICULTURE & INDUSTRIAL SULPHUR
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 20th December 1981
Commercial Registration Number : 2050000621, Dammam
Membership Number : 35923
Invested Capital : SR 500,000
Total Workforce : 20
Line of Business : Distributors of general agriculture and sulphur products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
NATIONAL
EST FOR AGRICULTURE & INDUSTRIAL SULPHUR
ADDRESS
Registered & Physical Address
Location : Dammam Highway
PO Box : 3891
Town : Dammam 31481
Country : Saudi Arabia
Telephone : (966-3) 8121009
/ 8121541
Facsimile : (966-3) 8121002
Email : neais@awalnet.sa
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Dammam.
KEY PRINCIPALS
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Saeed
Ali Gadran Al Ghamdi Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 23/02/1402
Hijri (corresponding to 20th December 1981)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 2050000621, Dammam
Membership No. : 35923
Invested Capital
: SR 500,000
Mr Saeed Ali Gadran Al Ghamdi 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 import and distribution of general agriculture and sulphur products.
Import Countries
: Europe and GCC countries.
Operating Trend
: Steady
Subject has a
workforce of 20 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 11,290,000 SR
11,800,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Riyad Bank
Prince
Mohammed Street
PO Box : 2123
Dammam
Tel : (966-3) 8323440
Fax : (966-3) 8337829
Acc No. 3020526319906
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
1981, subject is owned and managed by Mr Saeed Ali
Gadran Al Ghamdi 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.
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. |
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%)