MIRA
INFORM REPORT
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Report Date : |
28.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
MARKETING HOME |
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Registered Office : |
Al Aquaria
Commercial Center, No. 2, 5th Floor, Office No. 501, Al Olaya
Street, P O Box 295209, Riyadh 11351 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
January 2005 |
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Com. Reg. No.: |
1010120534, Riyadh |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the
import and distribution of sanitary ware products, porcelain and hotel
supplies. |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
SUMMARY
Company Name : MARKETING HOME
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : January 2005
Commercial Registration Number : 1010120534, Riyadh
Membership Number : 153387
Invested Capital : SR 50,000
Total Workforce : 10
Line of Business : Distributors of sanitary ware products, porcelain
and hotel supplies.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
COMPANY NAME
MARKETING HOME
ADDRESS
Registered & Physical Address
Building : Al Aquaria Commercial Center, No.
2, 5th Floor, Office No. 501
Street : Al Olaya Street
PO Box : 295209
Town : Riyadh 11351
Country : Saudi Arabia
Telephone : (966-1) 4191202
Facsimile : (966-1) 4191203
Email : malgfri@marketingh.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Riyadh.
KEY PRINCIPALS
·
Mosaad Al
Qasaari Proprietor
& General Manager
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Murad
Abdulaziz Al Mowlawh Assistant
General Manager
LEGAL FORM &
OWNERS
Date of Establishment : January 2005
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1010120534,
Riyadh
Membership No. :
153387
Invested Capital
: SR 50,000
Mr Mosaad Al
Qasaari 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
sanitary ware products, porcelain and hotel supplies.
Import Countries
: Europe, Tunisia and
Morocco.
Agencies Held :
·
Samocer Tunisia
·
Sanimade Tunisia
Subject has a
workforce of 10 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : Saudi
Riyals (SR)
Year
Ending 31/12/06:
Total Revenue SR
3,150,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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National Commercial
Bank
Malaz Branch
PO Box : 42536
Riyadh 11551
Tel : (966-1) 4776450
Fax : (966-1) 4769502
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Marketing Home is a
relatively new business with operations commencing in January 2005. It is
engaged in import and distribution of sanitary ware products, porcelain and
hotel supplies.
According to local sources subject is making steady progress in the local business market and nothing detrimental has been reported regarding the manner in which payments are fulfilled. As such the business is considered to be a fair trade risk.
Maximum suggested
credit figure: US$ 100,000
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%)