MIRA
INFORM REPORT
|
Report Date : |
03.05.2007 |
IDENTIFICATION DETAILS
|
Name : |
AL MAWAED FOR
FOOD SUPPLY AND CATERING SUPPLIES |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
4th March 2003 |
|
|
|
|
Com. Reg. No.: |
4030141846, Jeddah |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business : |
Engage in the provision of catering services. Operators
of restaurant under the name of Kazbar. |
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 |
|
Maximum Credit Limit : |
EUR 200,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : AL MAWAED FOR FOOD SUPPLY AND CATERING SUPPLIES
Country of Origin :
Legal Form : Limited Liability Partnership
Registration Date : 4th March 2003
Commercial Registration Number : 4030141846, Jeddah
Membership Number : 89590
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Total Workforce : 75
Line of Business : Subject operates several divisions (see below for
details).
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL MAWAED FOR FOOD
SUPPLY AND CATERING SUPPLIES
ADDRESS
Registered & Physical Address
Street : Andalus Street
Area : Al Hamra District
PO Box : 51108
Town : Jeddah 21543
Country : Saudi Arabia
Telephone : (966-2) 6652552
Facsimile : (966-2) 6685724
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Jeddah.
KEY PRINCIPALS
·
Walid
Al Attiyah Managing
Partner
·
Mohamed
Al Zamali General
Manager
·
Mazen Shaben Commercial
Manager
·
Jihad
Laban Sales
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 30/12/1423
Hijri (corresponding to 4th March 2003)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 4030141846,
Jeddah
Membership No. : 89590
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Name of Partner (s)
·
Walid
Al Attiyah
·
Al
Attiyah Group
LINE OF BUSINESS
Operations : Subject’s activities are performed through the
following divisions:
·
Catering Division
Engage in the provision
of catering services.
·
Restaurant Division
Operators of restaurant under the name of Kazbar.
Operating Trend : Steady
Subject has a
workforce of 75 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 16,290,000 SR 18,500,000
Local sources consider
subject’s financial condition to be Fair.
BANKERS
·
Saudi
American Bank
Medinah Road
PO Box : 490
Jeddah 21411
Tel : (966-2) 6603993
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of EUR 50,000:
Established in
2003, subject operates in the catering and restaurant business and is owned by Walid Al Attiyah and the Al Attiyah Group.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company is deemed a fair trade risk and
the above credit figure is considered to be within subject’s financial means.
Maximum suggested
credit figure: EUR 200,000
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%)