MIRA
INFORM REPORT
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Report Date : |
23.01.2007 |
IDENTIFICATION DETAILS
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Name : |
BINDAWOOD
GROUP OF COMPANIES |
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Registered Office : |
New |
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Country : |
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Date of Incorporation : |
1962 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the purchase, development and
sale of real estate. Engaged in the import and distribution of
general foodstuff 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$
1,000,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : BINDAWOOD GROUP OF COMPANIES
Country of Origin :
Legal Form : Limited Liability Partnership
Registration Date : 1962
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Total Workforce : 120
Line of Business : Holding company
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
BINDAWOOD
GROUP OF COMPANIES
ADDRESS
Registered & Physical Address
Building : New Danube Building
Street : Madinah Road
PO Box : 51190
Town : Jeddah 21543
Country : Saudi Arabia
Telephone : (966-2) 6580602
Facsimile : (966-2) 6057859 / 6071027
Email : info@bindawood.com
Premises
Subject
operates from a medium sized suite of offices and storage facilities that are
owned and located in the Central Business Area of Jeddah.
KEY PRINCIPALS
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Sheikh Abdullah Bin Dawood Managing
Partner
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Sheikh Abdul Razzaq Bin Dawood Partner
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Sheikh Abdul Khaliq Bin Dawood Partner
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Sheikh Khalid Bin Dawood Partner
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Sheikh Suleman Bin Dawood Partner
LEGAL FORM &
OWNERS
Date of Establishment : 1962
Legal Form : Limited Liability Partnership
Issued
Capital : SR 500,000
Paid
up Capital : SR 500,000
Name of Partner (s)
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Sheikh Abdullah Bin Dawood
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Sheikh Abdul Razzaq Bin Dawood
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Sheikh Abdul Khaliq Bin Dawood
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Sheikh Khalid Bin Dawood
·
Sheikh Suleman Bin Dawood
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
The
Bindawood Group of Companies comprises the following concerns:
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Danube Company Limited
Haraa International Market
Madinah Road & Heraa Street Intersection
Al Naim District
PO Box 766
Jeddah 21421
Tel: (966-2) 6545557 / 6543335 / 6580602
Fax: (966-2) 6541097
Email: danube@danubeco.com
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Al Danube Star for Bakeries & Marketing Co
PO Box : 766
Jeddah
Tel : (966-2) 6607282
Fax : (966-2) 6541097
Commercial Reg No. 4030086333
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Safa Co Ltd
Al Dahab Street
Al Balad District
PO Box 19547
Jeddah 21445
Tel: (966-2) 6490135
Fax: (966-2) 6471548
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MYA Import & Export Co LLC
PO Box 111092
Dubai
United Arab Emirates
Tel: (971-4) 3313944
Fax: (971-4) 3313955
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Jumairah Marketing
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Jumairah Fruit & Vegetable
LINE OF BUSINESS
Operations: Subject acts as a holding
company for the Bindawood Group offering centralised administrative and
financial support, as well as operating the following concerns:
· Bindawood Real Estate Division
Engaged in the purchase,
development and sale of real estate.
· Jumairah Fresh Foods Division
Engaged in the import and
distribution of general foodstuff products.
Import
Countries:
United Kingdom, United States of America, India and the Far East.
Subject
has a workforce of approximately 120 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in
BANKERS
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National Commercial Bank
Palestine Square
PO Box : 7161
Jeddah 21462
Tel : (966-2) 6697384
Fax : (966-2) 6697388
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Arab National Bank
Madinah Road
PO Box : 9463
Jeddah 21413
Tel : (966-2) 6600272
Fax : (966-2) 6650202
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Saudi American Bank
Madinah Road
PO Box : 490
Jeddah 21411
Tel : (966-2) 6603993
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
Date of transaction January 2006
Credit
amount 30,000
Amount
overdue 0
Payment
terms 60 days
Payment
Method Letters of
Credit
Paying
record No
Complaints
Currency Euros
GENERAL COMMENTS
Bindawood
Group Of Companies has been in business since 1962 and enjoys an excellent
reputation for the quality of its products and services.
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 company is considered to be a fair trade risk.
Maximum
suggested credit figure: US$ 1,000,000
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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