MIRA
INFORM REPORT
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Report Date : |
23.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
DAR AL
BAYAN TRADING CO |
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Registered Office : |
Al
Bayan Building, Saladeen Street, Malaz District, P O Box 42589, Riyadh 11551 |
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Country : |
Saudi
Arabia |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
1999 |
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Com. Reg. No.: |
1010153351, Riyadh |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged
in the supply of military products and uniforms, aircraft spare parts, office
furniture, safety and security products. |
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$
400,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : DAR AL BAYAN TRADING CO
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 1999
Commercial Registration Number : 1010153351, Riyadh
Membership Number : 94357
Issued Capital : SR 3,000,000
Paid up Capital : SR 3,000,000
Total Workforce : 100
Line of Business : Suppliers of military products and uniforms, aircraft spare parts,
office furniture, safety and security products as well as law
enforcement equipment and power utility products and power
utility equipment.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
DAR AL
BAYAN TRADING CO
ADDRESS
Registered & Physical Address
Building : Al Bayan Building
Street : Saladeen Street
Area : Malaz District
PO Box : 42589
Town :
Riyadh 11551
Country : Saudi Arabia
Telephone : (966-1) 4772440
Facsimile : (966-1) 4765777
Email : trading@albayan.com.sa
Premises
Subject
operates from a large suite of offices and a warehouse that are owned and
located in the Central Business Area of Riyadh.
KEY PRINCIPALS
· Mohamed Al Hammad Managing
Partner
· Dr Abdulrahman Al Hammad Partner
· Naser Al Hammad Partner
· Sultan Al Hammad Partner
· Bander Al Matrah Project
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 25/12/1419 Hijri (corresponding to 1999)
Legal Form : Limited Liability Partnership
Commercial Reg. No. : 1010153351, Riyadh
Membership No. : 94357
Issued
Capital : SR 3,000,000
Paid
up Capital : SR 3,000,000
Name of Partner (s)
· Mohamed Al Hammad
· Dr Abdulrahman Al Hammad
· Naser Al Hammad
· Sultan Al Hammad
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.
AFFILIATED COMPANIES
· Al Bayan Advertising Co
Riyadh
· Itisal Communication Co
Riyadh
LINE OF BUSINESS
Operations
: Engaged in the
supply of military products and uniforms, aircraft spare parts, office
furniture, safety and security products as well as law enforcement equipment
and power utility products and power utility equipment.
Subject is ISO 9001 accredited.
Among its major clients is the Ministry of
Defence, Armed Forces, Public Security Department, Civil Defence, Ministry of
Health, Ministry of Interior, Saudi Aramco, SABIC and Saudi Telecom Company (STC) & Saudi
Electricity (SCECO).
Import
Countries :
Europe and the United States of America.
Operating
Trend : Steady
Subject
has a workforce of 100 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
18,600,000 SR
20,280,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
National
Commercial Bank
Malaz Branch
PO Box : 42536
Riyadh 11551
Tel : (966-1) 4776450
Fax : (966-1) 4769502
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Saudi
American Bank
Malaz Branch
PO
Box : 3388
Riyadh 11471
Tel : (966-1) 4774770
·
Saudi
British Bank
King Faisal Street
PO Box : 43069
Riyadh 11561
Tel : (966-1) 4043196
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established
in 1999, subject is owned and managed by members of the Hammad family who are
well respected in the local business community.
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$ 400,000
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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