MIRA
INFORM REPORT
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Report Date : |
28.09.2007 |
IDENTIFICATION DETAILS
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Name : |
HUSSAIN AL JISHI
EST |
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Registered Office : |
Central Vegetable
Market, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
10th June 1982 |
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Com. Reg. No.: |
2050012362 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the wholesale
and retail of fruit and vegetables. |
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 : |
Usually correct |
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Litigation : |
Clear |
SUMMARY
Company Name : HUSSAIN AL JISHI EST
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 10th June 1982
Commercial Registration Number : 2050012362, Dammam
Membership Number : 12290
Invested Capital : SR 60,000
Total Workforce : 8
Line of Business : Wholesalers and retailers of fruit and vegetables.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
HUSSAIN AL JISHI
EST
ADDRESS
Registered & Physical Address
Location : Central Vegetable Market
PO Box : 6243
Town : Dammam 31442
Country :
Telephone : (966-3) 8173688 / 8173722
Facsimile : (966-3) 8173608
Email : hussein.jishi.est@hotmail.com
Premises
Subject operates
from a small suite of offices and a shop that are rented and located in the
Central Business Area of Dammam.
KEY PRINCIPALS
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Hussain
Ahmed Al Jishi Proprietor
& General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 17/08/1402
Hijri (corresponding to 10th June 1982)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 2050012362,
Dammam
Membership No. : 12290
Invested Capital
: SR 60,000
Mr Hussain Ahmed Al Jishi 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
fruit and vegetables.
Import Countries
:
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 5,750,000 SR
6,100,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Riyad
Bank
PO Box : 2123
Dammam
Tel : (966-3) 8323440
Fax : (966-3) 8337829
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
1982, subject is owned and managed by Mr Hussain Ahmed Al Jishi who is well respected in the local
business community.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the business is deemed 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%)