MIRA
INFORM REPORT
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Report Date : |
30th
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
MOHAMMED SAAD SALEM AL KHANBASHI EST |
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Registered Office : |
King
Faisal Street, PO Box: 23470, Riyadh 11426, Saudi Arabia |
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Country : |
Saudi
Arabia |
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Date of Incorporation : |
07.06.2006 |
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Com. Reg. No.: |
1010122015, Riyadh |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Engaged
in the wholesale and retail of watches, leather products and gift items. |
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$
50,000 |
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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 |
MOHAMMED SAAD SALEM AL KHANBASHI EST |
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Country
of Origin |
Saudi Arabia |
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Legal
Form |
Sole Proprietorship |
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Registration
Date |
7th June 2006 |
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Commercial
Registration Number |
1010122015, Riyadh |
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Membership
Number |
167599 |
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Invested
Capital |
SR 50,000 |
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Total
Workforce |
5 |
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Line
of Business |
Wholesalers and retailers of watches, leather products and gift items. |
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Financial
Condition |
Undetermined |
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Payments |
Nothing detrimental uncovered |
COMPANY NAME
MOHAMMED
SAAD SALEM AL KHANBASHI EST
ADDRESS
Registered & Physical Address
Location : King Faisal Street
PO Box : 23470
Town : Riyadh 11426
Country : Saudi Arabia
Telephone : (966-1) 2876884
Facsimile : (966-1) 2876884
Mobile : (966-50) 6976811
Email : centralgift24@yahoo.com
Premises
Subject
operates from a small suite of offices and a showroom that are rented and
located in the Central Business Area of Riyadh.
KEY PRINCIPALS
· Mohammed Saad Salem Al Khanbashi Proprietor & General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 7th June 2006
Legal Form : Sole Proprietorship
Commercial Reg. No. : 1010122015, Riyadh
Membership No. : 167599
Invested
Capital : SR 50,000
Mr
Mohammed Saad Salem Al Khanbashi 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
wholesale and retail of watches, leather products and gift items.
Import
Countries :
Europe and the Far East.
Subject
has a workforce of 5 employees.
FINANCIAL HIGHLIGHTS
Subject
is a newly formed business and as a result financial information is not
currently available.
BANKERS
·
Al
Rajhi Banking & Investment Corporation
PO Box : 28
Riyadh 11411
Tel :
(966-1) 4054647 / 4054244
Fax :
(966-1) 4044753 / 4052950
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000:
Investigations
undertaken in Riyadh 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$ 50,000
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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