MIRA
INFORM REPORT
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Report Date : |
04.07.2007 |
IDENTIFICATION DETAILS
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Name : |
WAHEEB ARAB TRADING EST |
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Registered Office : |
Sharafiyah
District, |
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Country : |
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Date of Incorporation : |
1995 |
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Com. Reg. No.: |
4030047297 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
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Distributors of communication and computer products v
Distributors of medical equipment v
Engaged as maintenance contractors for general
air conditioning, electrical and pumping work for schools, villas and holiday
complexes. |
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$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : WAHEEB ARAB TRADING
EST
Doing Business As : AL WATHBAH
Country of Origin : Saudi
Arabia
Legal Form :
Sole Proprietorship
Registration Date : 1995
Commercial
Registration Number :
4030047297, Jeddah
Membership Number : 22211
Invested Capital : SR
200,000
Total Workforce : 80
Line of Business : Subject
operates several divisions (see below for details).
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
]
COMPANY NAME
WAHEEB ARAB TRADING
EST
DOING BUSINESS AS
AL WATHBAH
ADDRESS
Registered & Physical Address
Location : Sharafiyah District
PO Box : 20850
Town : Jeddah 21475
Country :
Telephone : (966-2) 6988961 / 6989366 / 6532905
Facsimile : (966-2) 6981869 / 6511455
PREMISES
Subject operates
from a large suite of offices, a showroom and warehouse that are rented and
located in the Central Business Area of Jeddah.
Branch Offices
Subject has branch offices
located in Riyadh and Al Khobar.
KEY PRINCIPALS
·
Waheeb
Mohamed Rashad Arab Proprietor &
General Manager
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Saeed
Mohamed Jad El Haq Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 1995
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030047297,
Jeddah
Membership No. : 22211
Invested Capital
: SR 200,000
Mr. Waheeb Mohamed
Rashad Arab 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: Subject’s activities are performed through
the following divisions:
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Computer Division
Distributors of communication and computer products.
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Medical Equipment Division
Distributors of medical
equipment.
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Advanced Maintenance & Operations
Division
Engaged as maintenance contractors for general air
conditioning, electrical and pumping work for schools, villas and holiday
complexes.
Import Countries
: Europe and the
Operating Trend
: Steady
Subject has a
workforce of 80 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : Saudi
Riyals (SR)
Year Ending
31/12/05 : Year
Ending 31/12/06 :
Total Revenue SR 29,000,000 SR
33,700,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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National
Commercial Bank
King Abdul Aziz Street
PO Box : 3555
Jeddah 21481
Tel : (966-2) 6446644
Fax : (966-2) 6446644
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
1995, subject is owned and managed by Mr Waheeb Mohamed Rashad Arab who is 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$ 250,000
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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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)