MIRA
INFORM REPORT
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Report Date : |
31.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
ALI NASAR AL
NASSAR & PARTNERS CO |
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Registered Office : |
Main Road, Al
Raqaa Area, P O Box 216, Al Khobar 31952 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1970 |
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Com. Reg. No.: |
2051018174, Al Khobar |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the import
and distribution of industrial supplies, including valves and pipes. |
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$ 175,000 |
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Status : |
Fair |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : ALI NASAR AL NASSAR & PARTNERS CO
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Start Date : 1970
Registration Date : 29th November 1994
Commercial Registration Number : 2051018174, Al Khobar
Membership Number : 2660
Issued Capital : SR 720,000
Paid up Capital : SR 720,000
Total Workforce : 65
Line of Business : Distributors of industrial supplies, including valves and pipes.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
ALI NASAR AL NASSAR
& PARTNERS CO
ADDRESS
Registered & Physical Address
Street : Main Road
Area : Al Raqaa Area
PO Box : 216
Town : Al Khobar 31952
Country : Saudi Arabia
Telephone : (966-3) 8140444
Facsimile : (966-3) 8140111
Email : khurso@alialnassarco.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Al Khobar.
Branch Office (s)
Location Description
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Jeddah Office
premises
Tel : (966-2) 6637271
KEY PRINCIPALS
Ali Nasar Othman Al Nassar Managing Partner
Othman Nasar Al Nassar Partner
Omar Nasar Al Nassar Partner
Massad Ali Nasar Othman Al Nassar General
Manager
Mohamed Tajuddin Assistant
General Manager
Mahmood Alam Sales
Manager
Amin Othman Finance Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1970, however
subject was registered on 29th November 1994.
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 2051018174,
Al Khobar
Membership No. : 2660
Issued Capital : SR 720,000
Paid up Capital : SR 720,000
Name of Partner (s)
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Ali Nasar
Othman Al Nassar
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Othman
Nasar Al Nassar
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Omar Nasar
Al Nassar
Notes to the legal Form
A Limited Liability Partnership is a private entity formed by two or more partners who are liable for company debts to the extent of their contributed capital. A maximum of 50 partners are allowed in such a company. The total share capital must be SR 500,000 or more, divided into non-negotiable shares of equal value. The company may not include in its objects the conduct of banking, insurance or savings.
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
industrial supplies, including valves and pipes.
Import Countries
: Europe and Canada.
Agencies Held :
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Vilan Inc Canada
Operating Trend
: Steady
Subject has a workforce
of 65 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 12,800,000 SR 14,210,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Arab National
Bank
PO Box : 37
Al Khobar 31952
Tel : (966-3) 8948660
Fax : (966-3) 8942752
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
1970, subject is involved in the import and distribution of industrial
supplies, including valves and pipes.
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$ 175,000
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%)