MIRA
INFORM REPORT
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Report Date : |
24.05.2007 |
IDENTIFICATION DETAILS
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Name : |
AL OSAIS
INDUSTRIAL & STRUCTURAL SUPPLY CO |
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Registered Office : |
Dammam – |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
2001 |
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Com. Reg. No.: |
2050003837, Dammam |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import and distribution
of building materials, tools, hardware and ironmongery, pre-engineered
building systems, partitions and wallboards, ceilings, insulation, doors and
windows, industrial machines, instrumentation, valves and fittings,
lubricants, sheet and pipe products. |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : AL OSAIS INDUSTRIAL & STRUCTURAL SUPPLY CO
Country of Origin :
Legal Form : Limited Liability Partnership
Registration Date : 2001
Commercial Registration Number : 2050003837, Dammam
Membership Number : 46506
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Total Workforce : 22
Line of Business : Import and distribution of building materials and hardware.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL OSAIS INDUSTRIAL
& STRUCTURAL SUPPLY CO
ADDRESS
Registered & Physical Address
Location : Dammam – Al Khobar Highway
PO Box : 13376
Town : Dammam 31493
Country : Saudi Arabia
Telephone : (966-3) 8463615 / 8112225
Facsimile : (966-3) 8461306 / 8115969
Email : osaissupp@yahoo.com
Premises
Subject operates
from a medium sized suite of offices, a warehouse and a showroom that are
rented and located in the Suburban Business Area of Dammam.
KEY PRINCIPALS
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Amer
Abdullah Ali Moraisel Managing
Partner
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Abdul
Rahman Amir Moraisel Partner
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Omar
Amir Moraisel Partner
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Jayed
Zahiri H. Shah General
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 17/08/1421
Hijri (Corresponding to 2001)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 2050003837,
Dammam
Membership No. : 46506
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Name of Partner (s)
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Amer
Abdullah Ali Moraisel
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Abdul
Rahman Amir Moraisel
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Omar
Amir Moraisel
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.
AFFILIATED COMPANIES
Subject is a member
of the Al Osais Group, which consists of the following concerns:
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Al
Osais Contracting Co
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Al
Osais Transport, Rd Construction & Maintenance
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Al
Osais Petroleum Services Co
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Al
Osais MCM Co
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Al
Osais Telecommunications
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Al
Arabi Factory for Steel Industry
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Al
Arabi Truck Bodies Factory
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Al
Berri United Food Co Ltd (Aufco)
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Arabian
Pipeline & Services Co Ltd (Anabeeb)
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Baseelah
Commercial Services
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MGA
Trading
LINE OF BUSINESS
Operations: Engaged in the import and distribution of
building materials, tools, hardware and ironmongery, pre-engineered building systems,
partitions and wallboards, ceilings, insulation, doors and windows, industrial
machines, instrumentation, valves and fittings, lubricants, sheet and pipe
products.
Import
Countries: Spain, Italy,
Germany, and the United Kingdom.
Operating Trend: Steady
Subject has a
workforce of 22 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 6,750,000 SR 7,165,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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National
Commercial Bank
PO Box : 13
Dammam 31411
Tel : (966-3) 8331188
Fax : (966-3) 8336058
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Al Osais Industrial
& Structural Supply Co is engaged in the import and distribution of
building materials and hardware, as well as industrial supplies.
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$ 200,000
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%)