MIRA
INFORM REPORT
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Report Date : |
06.06.2007 |
IDENTIFICATION DETAILS
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Name : |
ABDULLAH MOHAMED
AL GHAMDI TRADING EST |
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Registered Office : |
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Country : |
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Date of Incorporation : |
13th November 2006 |
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Com. Reg. No.: |
2051033366, Dammam |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the
wholesale and retail of chilled and frozen meat, vegetables and dairy
products. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 50,000 |
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Status : |
New Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : ABDULLAH MOHAMED AL GHAMDI TRADING EST
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 13th November 2006
Commercial Registration Number : 2051033366, Dammam
Membership Number : 78392
Invested Capital : SR 50,000
Total Workforce : 4
Line of Business : Wholesalers and retailers of chilled and frozen meat, vegetables and
dairy products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
ABDULLAH MOHAMED AL
GHAMDI TRADING EST
ADDRESS
Registered & Physical Address
Location :
PO Box : 6974
Town : Dammam 31545
Country :
Telephone : (966-3) 8260860
Facsimile : (966-3) 8260860
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Dammam.
KEY PRINCIPALS
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Abdullah
Mohamed Al Ghamdi Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 21/10/1427
Hijri (corresponding to 13th November 2006)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 2051033366,
Dammam
Membership No. : 78392
Invested Capital
: SR 50,000
Mr Abdullah Mohamed
Al Ghamdi 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
chilled and frozen meat, vegetables and dairy products.
Import Countries
:
Subject has a
workforce of 4 employees.
FINANCIAL HIGHLIGHTS
Subject is a newly formed
business and as a result financial information is not currently available.
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
Investigations
undertaken in Dammam 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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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%)