MIRA
INFORM REPORT
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Report Date : |
24.05.2007 |
IDENTIFICATION DETAILS
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Name : |
AL KAFAA TRADING
COMPANY |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
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Com. Reg. No.: |
2050013593, Dammam |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the import
and distribution of steel pipes for the gas, oil, petrochemical and water
industries. |
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$ 600,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : AL KAFAA TRADING COMPANY
Country of Origin :
Legal Form : Limited Liability Partnership
Registration Date :
Commercial Registration Number : 2050013593, Dammam
Membership Number : 8145
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Total Workforce : 145
Line of Business : Distributors of steel pipes for the gas, oil, petrochemical and water
industries.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL KAFAA TRADING
COMPANY
ADDRESS
Registered & Physical Address
Location :
PO Box : 7170
Town : Dammam 31462
Country :
Telephone : (966-3) 8260994 / 8269296
Facsimile : (966-3) 8290288 / 8270126
Email : mosaad@solmail.net
Premises
Subject operates
from a large suite of offices and a warehouse that are rented and located in
the Central Business Area of Dammam.
Branch Office (s)
Subject has branch offices located in
KEY PRINCIPALS
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Mosaad
Abdullah Al Arisi Managing
Partner
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Abdullah
Mosaad Abdullah Al Arisi Partner
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Jayant
Ghatak Commercial
Manager
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Mohamed
Al Najjar Purchasing
Manager
LEGAL FORM &
OWNERS
Date of Establishment :
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 2050013593,
Dammam
Membership No. : 8145
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Name of Partner (s)
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Mosaad
Abdullah Al Arisi
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Abdullah
Mosaad Abdullah Al Arisi
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
steel pipes for the gas, oil, petrochemical and water industries.
Import Countries
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Operating Trend
: Steady
Subject has a
workforce of 145 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency :
Year
Ending
Total Revenue SR 98,600,000 SR 108,000,000
Local sources consider
subject’s financial condition to be Fair.
BANKERS
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Saudi
British Bank
PO Box : 1618
Dammam 31411
Tel : (966-3) 8331553
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
1983, subject is involved in the import and distribution of steel pipes for the
gas, oil, petrochemical and water industries.
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.
Maximum suggested
credit figure: US$ 600,000
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%)