MIRA
INFORM REPORT
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Report Date : |
16.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
ABDULRAHMAN
ABDUL QADER FAKIEH CHICKEN FEED FACTORY |
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Registered Office : |
Jeddah
Industrial Estate Phase 2, Road No. 23, P O Box 8763, Jeddah 21492 |
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Country : |
Saudi
Arabia |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
21st March 1974 |
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Com. Reg. No.: |
4031003741 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Manufacturers
of animal feeds. |
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$
500,000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : ABDULRAHMAN ABDUL QADER FAKIEH CHICKEN FEED
FACTORY
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 21st March 1974
Commercial Registration Number : 4031003741, Jeddah
Industrial Licence Number : 1537/S
Invested Capital : SR 8,506,000
Total Workforce : 50
Line of Business : Manufacturers of animal feeds.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
ABDULRAHMAN
ABDUL QADER FAKIEH CHICKEN FEED FACTORY
ADDRESS
Registered & Physical Address
Location : Jeddah Industrial Estate Phase 2,
Road No. 23
PO Box : 8763
Town : Jeddah 21492
Country : Saudi Arabia
Telephone : (966-2) 6363836 / 6373424
Facsimile : (966-2) 6361559
Premises
Subject
operates from a small suite of offices and a factory that are owned and located
in the Industrial Area of Jeddah.
KEY PRINCIPALS
· Abdulrahman Abdul Qader Fakieh Proprietor &
General Manager
· Hesham B Mofti Assistant
General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 27/02/1394 Hijri (corresponding to 21st March 1974)
History : Subject was originally called
“Fakieh Feed Factory” however in
2006 it re-registered under the new name of
“Abdulrahman Abdul
Qader Fakieh Chicken Feed
Factory”.
Legal Form : Sole Proprietorship
Commercial Reg. No. : 4031003741, Jeddah
Industrial Licence No. : 1537/S
Invested
Capital : SR 8,506,000
Mr
Abdulrahman Abdul Qader Fakieh 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
: Manufacturers
of animal feeds.
Import
Countries :
Europe and the Far East.
Operating
Trend : Steady
Subject
has a workforce of 50 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 14,300,000 SR
15,840,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
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Al
Bank Al Saudi Al Fransi
Al Sharafiya Branch
Medina Road
PO Box : 7888
Jeddah 21472
Tel : (966-2) 6605863
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 400,000:
Established
in 1974, subject is owned and managed by Mr Abdulrahman Abdul Qader Fakieh who
is well respected in the local business community.
Local
sources report that payment obligations are met in a generally timely manner
and the operating history is clear. As such the company is deemed a fair trade
risk and the above credit figure is considered to be within subject’s financial
means.
Maximum
suggested credit figure: US$ 500,000
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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