MIRA
INFORM REPORT
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Report Date : |
27th
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
ABDUL
RAZAK EST FOR GENERAL CONTRACTING |
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Registered Office : |
Madina
Road, PO Box: 11032, Jeddah 21453, Saudi Arabia. |
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Country : |
Saudi
Arabia |
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Date of Incorporation : |
June
2006 |
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Com. Reg. No.: |
4030161817, Jeddah |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Engaged
in the provision of freight forwarding services. |
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$
30,000 |
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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 |
ABDUL RAZAK EST FOR GENERAL CONTRACTING |
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Country
of Origin |
Saudi Arabia |
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Legal
Form |
Sole Proprietorship |
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Registration
Date |
June 2006 |
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Commercial
Registration Number |
4030161817, Jeddah |
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Invested
Capital |
SR 50,000 |
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Total
Workforce |
6 |
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Line
of Business |
Providers of freight forwarding services. |
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Financial
Condition |
Undetermined |
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Payments |
Nothing detrimental uncovered |
COMPANY NAME
ABDUL
RAZAK EST FOR GENERAL CONTRACTING
ADDRESS
Registered & Physical Address
Location : Madina Road
PO Box : 11032
Town : Jeddah 21453
Country : Saudi Arabia
Telephone : (966-2) 6631507 / 6630761
Facsimile : (966-2) 6611966
Mobile : (966-50) 0619428
Email : management@dragonfreightintl.com
Premises
Subject
operates from a small suite of offices that are rented and located in the
Central Business Area of Jeddah.
KEY PRINCIPALS
· Abdulrazak Abu Baker Proprietor
& General Manager
· Abdulrahim Mohamed Rafiq Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : June 2006
Legal Form : Sole Proprietorship
Commercial Reg. No. : 4030161817, Jeddah
Invested
Capital : SR 50,000
Mr
Abdulrazak Abu Baker 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
provision of freight forwarding services.
Subject
has a workforce of 6 employees.
FINANCIAL HIGHLIGHTS
Subject
is a newly formed business and as a result financial information is not
currently available.
BANKERS
·
National
Commercial Bank
King Abdul Aziz Street
PO Box : 3555
Jeddah 21481
Tel :
(966-2) 6446644
Fax :
(966-2) 6446644
Acc No. 11856963000101
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Investigations
undertaken in Jeddah did not reveal any sign of payment defaults or delays
during initial trading stages, and subject is believed to meet its payment
obligations in a timely manner, nevertheless, and in view of the company’s
infancy and the lack of a more consistent payment and financial record, a
measure of caution is advisable and a close monitoring of subject’s business
development is recommended.
Maximum
suggested credit figure: US$ 30,000
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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