MIRA
INFORM REPORT
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Report Date : |
18.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL MOUEL TRADING CORPORATION |
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Registered Office : |
Tahlia Street, Al Sulaimaniah Area, PO Box 90171, Riyadh 11613 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1990 |
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Com. Reg. No.: |
1010095968, Riyadh |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Traders of Jewellery and Gold. Wholesale and Retail of Readymade Garments and Beauty 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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL MOUEL TRADING
CORPORATION
Country of Origin : Saudi
Arabia
Legal Form :
Sole Proprietorship
Registration Date : 1990
Commercial
Registration Number : 1010095968, Riyadh
Chamber Membership
Number : 45345
Invested Capital : SR
100,000
Total Workforce : 15
Activities :
Subject operates several divisions (see below for details).
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL MOUEL TRADING CORPORATION
ADDRESS
Registered & Physical Address
Street : Tahlia
Street
Area : Al
Sulaimaniah Area
PO Box : 90171
Town : Riyadh 11613
Country : Saudi Arabia
Telephone : (966-1) 4191405 / 4617183 / 2170523 / 2801961
Facsimile : (966-1)
2170523
Mobile : (966-50) 5743800
Email : almouel@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 Riyadh.
KEY PRINCIPALS
Name Position
·
Mrs Alawiya Gaafer Al Mahder Proprietor
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Abdul Qader Al Mahsour General
Manager
·
Manhu Shanan Sales
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1990
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 1010095968, Riyadh
Chamber Member No. : 45345
Invested Capital : SR 100,000
Mrs Alawiya Gaafer Al Mahder is the sole proprietor of the business.
OPERATIONS
Activities: Subject’s operations are performed through the following divisions:
·
Jewellery Division
Engaged
as traders of jewellery and gold.
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Readymade Garments Division
Engaged
in the wholesale and retail of readymade garments and beauty products.
Import Countries: United States of America and India
International Suppliers:
· Wing United States of America
Operating Trend: Steady
Subject has a workforce of 15 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Saudi Riyals (SR)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Sales SR
6,900,000 SR 7,680,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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National Commercial Bank
Batha Branch
PO Box : 34
Riyadh 11411
Tel : (966-1)
4010076 / 4025084
Fax : (966-1)
4034625
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Al Mouel Trading Corporation has been in business for 18 years and is
engaged in the wholesale and retail of ready made garments, jewellery and
beauty products.
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.
The financial information contained within this report has been verified
by Mr Manhu Shanan – Sales Manager.
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%)