MIRA
INFORM REPORT
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Report Date : |
06.09.2007 |
IDENTIFICATION DETAILS
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Name : |
AHMED DAWOOD
ALWANI CO |
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Registered Office : |
Al |
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Country : |
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Date of Incorporation : |
21st February 2006 |
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Com. Reg. No.: |
4030160672, Jeddah |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the wholesale
and retail of perfumes and textile 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 : AHMED DAWOOD ALWANI CO
Country of Origin :
Legal Form : Limited Liability Partnership
Registration Date : 21st February 2006
Commercial Registration Number : 4030160672, Jeddah
Membership Number : 109371
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Total Workforce : 20
Line of Business : Wholesalers and retailers of perfumes and textile products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
AHMED DAWOOD ALWANI
CO
ADDRESS
Registered & Physical Address
Building : Al
Street :
Area : Al Balad District
PO Box : 19471
Town : Jeddah 21435
Country :
Telephone : (966-2) 6420907 / 6433653 / 6449999 / 64009662
Facsimile : (966-2) 6440021
Email : alwaniperfumes@hotmail.com
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Jeddah.
Branch Office (s)
Location Description
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Souq
Makailah Rented
showroom premises
KEY PRINCIPALS
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Ahmed
Dawood Alwani Managing
Partner
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Sheikh
Dawood Alwani Partner
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Mosataf
Hoziullah Commercial
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 22/01/1427
Hijri (corresponding to 21st February 2006)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 4030160672,
Jeddah
Membership No. :
109371
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Name of Partner (s)
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Ahmed
Dawood Alwani
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Sheikh
Dawood Alwani
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 wholesale and retail of
perfumes and textile products.
Import Countries
:
Subject has a
workforce of 20 employees.
FINANCIAL HIGHLIGHTS
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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Al Bank
Al Saudi Al Fransi
Al Sharafiya Branch
PO Box : 7888
Jeddah 21472
Tel : (966-2) 6605863
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Investigations
undertaken in Jeddah did not reveal any sign of payment defaults or delays
during initial trading stages, and subject is believed to meet its payment
obligations in a timely manner, nevertheless, and in view of the company’s
infancy and the lack of a more consistent payment and financial record, a
measure of caution is advisable and a close monitoring of subject’s business
development is recommended.
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%)