MIRA
INFORM REPORT
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Report Date : |
23.10.2007 |
IDENTIFICATION DETAILS
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Name : |
BAABOUD TRADING
& SHIPPING AGENCIES LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
19th July 1981 |
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Com. Reg. No.: |
4030000136, Jeddah |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged as owners and operators of a shipping fleet for cargo,
passengers and livestock. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 750,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : BAABOUD TRADING & SHIPPING AGENCIES LTD
Also Known As : AHMED BAABOUD TRADING EST
Country of Origin :
Legal Form : Limited Liability Partnership
Registration Date : 19th July 1981
Commercial Registration Number : 4030000136, Jeddah
Membership Number : 221
Issued Capital : SR 10,000,000
Paid up Capital : SR 10,000,000
Total Workforce : 500
Line of Business : Owners and operators of shipping fleet.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
BAABOUD TRADING
& SHIPPING AGENCIES LTD
ALSO KNOWN AS
AHMED BAABOUD
TRADING EST
ADDRESS
Registered & Physical Address
Building : Baaboud Building
Street : Al Masafi
Street, No. 176
Area : Balad Area
PO Box : 7262 & 16679
Town : Jeddah 21462
Country : Saudi Arabia
Telephone : (966-2) 6367572
/ 6270000 / 6360112
Facsimile : (966-2) 6374128
/ 6377958
Email : technical@baaboud.net
Premises
Subject operates
from a large suite of offices that are owned and located in the Central
Business Area of Jeddah.
KEY PRINCIPALS
·
Ahmed Mohamed Baaboud Managing
Partner
LEGAL FORM &
OWNERS
Date of Establishment : 17/09/1401
Hijri (corresponding to 19th July 1981)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 4030000136,
Jeddah
Membership No. : 221
Issued Capital : SR 10,000,000
Paid up Capital : SR 10,000,000
Name of Partner (s)
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Ahmed Mohamed Baaboud
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Members
of Mr Ahmed Mohamed Baaboud’s family
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 as owners
and operators of a shipping fleet for cargo, passengers and livestock.
Subject also has other interests in maritime equipment and chandlering activities.
Subject has a
workforce of approximately 500 employees.
FINANCIAL
HIGHLIGHTS
Companies
registered in
BANKERS
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National
Commercial Bank
King Abdul Aziz Street
PO Box : 3555
Jeddah 21481
Tel : (966-2) 6446644
Fax : (966-2) 6446644
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
1981, subject acts as owners and operators of a
shipping fleet for cargo, passengers and livestock.
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$ 750,000
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%)