MIRA
INFORM REPORT
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Report Date : |
01.06.2007 |
IDENTIFICATION DETAILS
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Name : |
AL HAMIDI MOHAMED
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Registered Office : |
Al Azziziyah
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Country : |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
13th July 1997 |
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Com. Reg. No.: |
2511003622 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import
and distribution of automotive spare parts and related accessories. |
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 : |
Usually correct |
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Litigation : |
Clear |
SUMMARY
Company Name :
AL HAMIDI MOHAMED
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 13th July 1997
Commercial Registration Number : 2511003622, Hafer Al Batin
Membership Number : 56739
Invested Capital : SR 200,000
Total Workforce : 6
Line of Business : Distributors of automotive spare parts and related accessories.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL HAMIDI MOHAMED
ADDRESS
Registered & Physical Address
Location : Al Azziziyah Area
PO Box : 69
Town : Hafer Al Batin
Country :
Telephone : (966-3) 7220546
Facsimile : (966-3) 7220546
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Hafer Al Batin.
KEY PRINCIPALS
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Al
Hamidi Mohamed Al Mutairy Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 08/03/1418
Hijri (corresponding to 13th July 1997)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 2511003622,
Hafer Al Batin
Membership No. : 56739
Invested Capital
: SR 200,000
Mr Al Hamidi
Mohamed Al Mutairy 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 import and distribution of
automotive spare parts and related accessories.
Import Countries
: Europe and the
Operating Trend
: Steady
Subject has a
workforce of 6 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : Saudi
Riyals (SR)
Year Ending
31/12/04 : Year
Ending 31/12/05 :
Total Revenue SR 5,300,000 SR
5,580,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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National
Commercial Bank
PO Box : 13
Dammam 31411
Tel : (966-3) 8331188
Fax : (966-3) 8336058
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1997,
subject is involved in the import and distribution of automotive spare parts
and related accessories.
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$ 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%)