MIRA
INFORM REPORT
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Report Date : |
11.07.2007 |
IDENTIFICATION DETAILS
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Name : |
HASAN AHMED MOZAFER
TRADING & IMPORT EST |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1993 |
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Com. Reg. No.: |
4030008859, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the wholesale
and retail of sweets, sugar and sweeteners. |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : HASAN AHMED MOZAFER TRADING & IMPORT EST
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 1993
Commercial Registration Number : 4030008859, Jeddah
Invested Capital : SR 50,000
Total Workforce : 20
Line of Business : Wholesale and retail of sweets, sugar and sweeteners.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
HASAN AHMED MOZAFER TRADING & IMPORT EST
ADDRESS
Registered & Physical Address
Location :
PO Box : 30461
Town : Jeddah 21477
Country :
Telephone : (966-2) 2686447 / 6365559
Facsimile : (966-2) 6361284
Premises
Subject operates from
a small suite of offices, a showroom and a warehouse that are rented and
located in the Central Business Area of Jeddah.
Branch Office (s)
Subject
operates 2 further branches located in Madinah and
KEY PRINCIPALS
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Hasan Ahmed
Mozafer Proprietor
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Gazi Hasan
Ahmed Mozafer General
Manager
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Niaz Hashim Assistant
General Manager
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Fadel Al
Rahman Commercial
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1993
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030008859, Jeddah
Invested Capital
: SR 50,000
Mr Hasan Ahmed Mozafer is the sole proprietor of the business.
Note to the Legal Form
Commonly referred to as an establishment, the Company Law defines Mouassasa Khassa 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 sweets, sugar and sweeteners.
Import
Countries: Far East and
Operating Trend
: Steady
Subject has a
workforce of 20 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 10,500,000 SR 11,275,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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National
Commercial Bank
Al Balad Branch
PO Box : 5066
Jeddah 21422
Tel : (966-2) 6434777
Fax : (966-2) 6441686
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Hasan Ahmed Mozafer
Trading & Import Est has been trading since 1993 and specialises in the
wholesale and retail of sweets, sugar and sweeteners, operating branches in
Jeddah, Madinah and
During the course of this investigation nothing detrimental was uncovered regarding the manner in which payment obligations are fulfilled. The operating history is clear and the financial situation is satisfactory. As such we are of the opinion that the subject is a fair trade risk and the above credit figure is within subject’s financial means.
Maximum suggested
credit figure: US$ 150,000
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%)