MIRA
INFORM REPORT
|
Report Date : |
14th March, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
JUMAIRAH MARKETING FOOD |
|
|
|
|
Registered Office : |
Gulf Plaza, 5th
Floor, Office No. 512, Madina Road, PO Box: 2822, Jeddah 21461, Saudi Arabia. |
|
|
|
|
Country : |
Saudi Arabia |
|
|
|
|
Date of Incorporation : |
27.11.1999 |
|
|
|
|
Com. Reg. No.: |
4031039203, Jeddah |
|
|
|
|
Legal Form : |
Sole
Proprietorship |
|
|
|
|
Line of Business : |
Engaged in the wholesale
and retail of general foodstuff products and groceries. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
SUMMARY
|
Company Name |
JUMAIRAH MARKETING FOOD |
|
Country of Origin |
Saudi Arabia |
|
Legal Form |
Sole Proprietorship |
|
Registration Date |
27th November 1999 |
|
Commercial
Registration Number |
4031039203, Jeddah |
|
Membership Number |
96106 |
|
Invested Capital |
SR 50,000 |
|
Total Workforce |
120 |
|
Line of Business |
Wholesalers and retailers of general foodstuff products and groceries. |
|
Financial Condition |
Undetermined |
|
Payments |
Nothing detrimental uncovered |
COMPANY NAME
JUMAIRAH MARKETING
FOOD
ADDRESS
Registered & Physical Address
Location : Gulf Plaza, 5th Floor,
Office No. 512
Street : Madina Road
PO Box : 2822
Town : Jeddah 21461
Country : Saudi Arabia
Telephone : (966-2) 6631106 / 6580602
Facsimile : (966-2) 6632134
Mobile : (966-50) 6656921
Email : info@jumairah.com.sa
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Jeddah.
Branch Offices
Subject has 13
grocery stores located throughout the country.
KEY PRINCIPALS
·
Abdulaziz
Bin Dawoud Ibrahim Proprietor
& General Manager
·
Mohamed
Mailam Commercial
Manager
·
Hassan
Ghareeb Administration
Manager
LEGAL FORM & OWNERS
Date of Establishment : 19/08/1420
Hijri (corresponding to 27th November 1999)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4031039203,
Jeddah
Membership No. : 96106
Invested Capital
: SR 50,000
Mr Abdulaziz Bin Dawoud Ibrahim 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.
AFFILIATED COMPANIES
Subject is a member of the Bindawood group of companies that includes
the following concerns:
·
Danube Company
Limited
Haraa International Market
Madinah Road & Heraa Street Intersection
Al Naim District
PO Box 766
Jeddah 21421
Tel : (966-2) 6545557
/ 6543335 / 6580602
Fax : (966-2) 6541097
Email : danube@danubeco.com
·
Al Danube Star
for Bakeries & Marketing Co
PO Box : 766
Jeddah
Tel :
(966-2) 6607282
Fax :
(966-2) 6541097
Commercial Reg No. 4030086333
·
Safa Co Ltd
Al Dhahab Street
Al Balad District
PO Box 19547
Jeddah 21445
Tel :
(966-2) 6490135
Fax :
(966-2) 6471548
·
MYA Import
& Export Co LLC
PO Box 111092
Dubai
United Arab Emirates
Tel : (971-4) 3313944
Fax : (971-4) 3313955
LINE OF BUSINESS
Operations : Engaged in the wholesale and retail of
general foodstuff products and groceries.
Import Countries
: Europe and GCC countries.
Subject has a
workforce of 120 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in Saudi Arabia are not legally required to make their accounts
public and no financial information was released by the company or submitted by
outside sources.
BANKERS
·
National
Commercial Bank
Palestine Square
PO Box : 7161
Jeddah 21462
Tel : (966-2) 6697384
Fax : (966-2) 6697388
·
Arab National
Bank
Madinah Road
PO Box : 9463
Jeddah 21413
Tel : (966-2) 6600272
Fax : (966-2) 6650202
·
Saudi American
Bank
Madinah Road
PO Box : 490
Jeddah 21411
Tel :
(966-2) 6603993
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1999,
subject is owned and managed by Mr Abdulaziz
Bin Dawoud Ibrahim who is well respected in the local business community.
During the course
of this investigation nothing detrimental was uncovered regarding subject’s
operating history or the manner in which payments are fulfilled. As such the
company is considered to be a fair trade risk.
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)