MIRA
INFORM REPORT
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Report Date : |
23.10.2007 |
IDENTIFICATION DETAILS
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Name : |
AFAQ AL ANDLUS
TRADING EST |
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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 : |
2004 |
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Com. Reg. No.: |
1010170547, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the
wholesale and retail of general foodstuff and
frozen 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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : AFAQ AL ANDLUS TRADING EST
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 2004
Commercial Registration Number :
1010170547,
Membership Number : 114964
Invested Capital : SR 70,000
Total Workforce : 8
Line of Business : Wholesalers and retailers of general foodstuff and frozen products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AFAQ AL ANDLUS
TRADING EST
ADDRESS
Registered & Physical Address
Street : Al
Mamoun Street
Area : Al Shafee
Area
PO Box : 370351
Town :
Country : Saudi Arabia
Telephone : (966-1) 2972486
/ 4202775
Facsimile : (966-1) 2972486
Mobile : (966-50) 4154806
Premises
Subject operates from
a small suite of offices and a showroom that are rented and located in the
Central Business Area of Riyadh.
KEY PRINCIPALS
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Fahd Masoud Al Jahani Proprietor
& General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 2004
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1010170547,
Riyadh
Membership No. :
114964
Invested Capital
: SR 70,000
Mr Fahd Masoud Al Jahani 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 wholesale and retail of general foodstuff and frozen products.
Import Countries
: Europe and the Far East.
Operating Trend
: Steady
Subject has a
workforce of 8 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 3,800,000 SR 4,500,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Arab
National Bank (ANB)
King Faisal Street
PO Box : 56921
Riyadh 11564
Tel : (966-1) 4029000
Fax : (966-1) 4027747
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Established in
2004, subject is owned and managed by Mr Fahd Masoud
Al Jahani who is well respected in the local business community.
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
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. |
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%)