MIRA
INFORM REPORT
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Report Date : |
06.09.2007 |
IDENTIFICATION DETAILS
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Name : |
ABDULLAH MOHAMED |
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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 : |
11th August 1991 |
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Com. Reg. No.: |
1010084971, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the wholesale
and retail of leather
products, including jackets and belts. |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name :
ABDULLAH MOHAMED
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 11th August 1991
Commercial Registration Number :
1010084971,
Membership Number : 24227
Invested Capital : SR 60,000
Total Workforce : 8
Line of Business : Wholesalers and retailers of leather products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
ABDULLAH MOHAMED
ADDRESS
Registered & Physical Address
Street :
Area : Deerah Area
PO Box : 24849
Town :
Country :
Telephone : (966-1) 4133859 / 4093039
Facsimile : (966-1) 4112474
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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Abdullah
Mohamed Al Mozan Proprietor &
General Manager
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Kamal
Mozafar Assistant
General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 01/02/1412
Hijri (corresponding to 11th August 1991)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1010084971,
Membership No. : 24227
Invested Capital
: SR 60,000
Mr Abdullah Mohamed Al Mozan 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 leather products, including jackets and
belts. Subject also distributes medical equipment.
Import Countries
: Europe and the
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 5,890,000 SR
6,100,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Saudi
American Bank
Malaz Branch
PO
Box : 3388
Tel : (966-1) 4774770
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in 1991,
subject is involved in the wholesale and retail of leather products, including jackets and
belts. Subject also distributes medical equipment.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the business is deemed a fair trade risk
and the above credit figure is considered to be within subject’s financial
means.
Maximum suggested
credit figure: US$ 150,000
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%)