MIRA
INFORM REPORT
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Report Date : |
2nd
January, 2007 |
IDENTIFICATION
DETAILS
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Correct Name : |
AL BANDER COMPANY LTD |
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Registered Office : |
Macrona
Street, PO Box: 8650, Jeddah 21492, Saudi Arabia |
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Country : |
Saudi
Arabia |
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Date of Incorporation : |
14.04.2003 |
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Com. Reg. No.: |
4030142430, Jeddah |
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Legal Form : |
Limited
Liability Partnership |
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Line of Business : |
Import and distribution of ceramics, tiles, marble and sanitary ware 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 : |
Regular |
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Litigation : |
Clear |
SUMMARY
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Company
Name |
AL BANDER COMPANY LTD |
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Country
of Origin |
Saudi Arabia |
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Legal
Form |
Limited Liability Partnership |
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Registration
Date |
14th April 2003 |
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Commercial
Registration Number |
4030142430, Jeddah |
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Membership
Number |
91199 |
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Issued
Capital |
SR 10,000,000 |
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Paid
up Capital |
SR 10,000,000 |
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Total
Workforce |
45 |
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Line
of Business |
Import and distribution of ceramics, tiles, marble and sanitary ware products. |
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Financial
Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating
Trend |
Steady |
COMPANY NAME
AL
BANDER COMPANY LTD
ADDRESS
Registered & Physical Address
Street : Macrona Street
PO Box : 8650
Town : Jeddah 21492
Country : Saudi Arabia
Telephone : (966-2) 6722763 / 6420757
Facsimile : (966-2) 6741667
Email : albander@sps.net.sa
Premises
Subject
operates from a medium sized suite of offices and a warehouse that are rented
and located in the Central Business Area of Jeddah.
Branch
Office (s)
Subject
has branch offices located in Riyadh, Dammam, Mecca, Madina, Khamis Mushait,
Yanbu and Jizan.
KEY PRINCIPALS
· Saad Awad Al Harthi Managing
Partner
· Bander Saad Awad Al Harthi Partner
· Abdul Jalil Amer Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 12/02/1424 Hijri (corresponding to 14th April 2003)
Legal Form : Limited Liability Partnership
Commercial Reg. No. : 4030142430, Jeddah
Membership No. : 91199
Issued
Capital : SR 10,000,000
Paid
up Capital : SR 10,000,000
Name of Partner (s)
· Saad Awad Al Harthi
· Bander Saad Awad Al Harthi
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.
LINE OF BUSINESS
Operations
: Engaged in the
import and distribution of ceramics, tiles, marble and sanitary
ware products.
Import
Countries :
Europe, Egypt, Morocco and Tunisia.
International
Suppliers :
· Cleopatra Ceramics Egypt
Operating
Trend : Steady
Subject
has a workforce of 45 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency
: Saudi Riyals (SR)
Year
Ending 31/12/04 : Year
Ending 31/12/05 :
Total
Revenue SR
17,320,000 SR
18,780,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
National
Commercial Bank
King Abdul Aziz Street
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
Established
in 2003, subject is involved in the import and distribution of ceramics, tiles,
marble and sanitary ware products.
Local
sources report that the subject’s operating history is clear with payment
obligations met in a generally timely manner. The financial position is
satisfactory and the business is deemed 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/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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