MIRA
INFORM REPORT
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Report Date : |
25.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL THEYAB MARKETING CO LTD |
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Registered Office : |
Al Soli
Industrial Area, PO Box 59382, Riyadh
11525 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
22.09. 1992 |
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Com. Reg. No.: |
1010100436, Riyadh |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Wholesale and Retail of General Foodstuff 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$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL THEYAB MARKETING CO LTD
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 22nd September 1992
Commercial Registration Number : 1010100436, Riyadh
Chamber Membership Number : 45958
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Total Workforce : 35
Activities : Wholesale and retail of general foodstuff products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
COMPANY NAME
AL THEYAB MARKETING CO LTD
ADDRESS
Registered & Physical Address
Location : Al Soli Industrial Area
PO Box : 59382
Town : Riyadh 11525
Country : Saudi Arabia
Telephone : (966-1) 2411113 / 2415342 / 2410290
Facsimile : (966-1) 2414390
Email : altheyabmc@hotmail.com
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Industrial Area of Riyadh.
Branch Office (s)
Location Description
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Al
Mahjer Area Rented
showroom premises
Jeddah
KEY PRINCIPALS
Name Position
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Fahad Saleh Al Hosan Managing
Partner
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Khalid Hamoud
Al Theyab Partner
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Al Tayeb
Madani Purchasing
Manager
LEGAL FORM & OWNERS
Date of Establishment : 25/03/1413 Hijri (Corresponding to 22nd
September 1992)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 1010100436,
Riyadh
Chamber Member No. : 45958
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Name of Partner (s)
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Fahad Al Hosan
·
Khalid Houmd
Al Theyab
AFFILIATED COMPANIES
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Al Theyab
Holding Co
Riyadh
Tel : (966-1) 4774277
OPERATIONS
Activities: Engaged in the wholesale and retail of
general foodstuff products, including lentils, soya, spices, tea, sugar and
jam.
Import
Countries: Europe, Sri
Lanka, India and Thailand.
Operating Trend: Steady
Subject has a
workforce of 35 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:
Total Sales SR 12,900,000 SR 15,385,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
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National
Commercial Bank
Malaz Branch
PO Box : 42536
Riyadh 11551
Tel : (966-1) 4776450
Fax : (966-1) 4769502
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Established in
1992, subject is involved in the wholesale and retail of general foodstuff
products, including lentils, soya, spices, tea, sugar and jam.
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.
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%)