MIRA
INFORM REPORT
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Report Date : |
04.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
KHALID ALDEREA FOR TRADING AND MARKETING EST |
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Registered Office : |
Al Sulayee
Industrial Area, Exit No. 16, Al Rumaih, PO Box 1070, Riyadh 11342 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1994 |
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Com. Reg. No.: |
1010124027, Riyadh |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and Distribution of General Merchandise |
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$ 300,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : KHALID ALDEREA FOR TRADING AND MARKETING EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 1994
Commercial Registration Number : 1010124027, Riyadh
Chamber Membership Number : 63070
Invested Capital : SR 500,000
Total Workforce : 30
Activities : Import and distribution of general merchandise
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 300,000
COMPANY NAME
KHALID ALDEREA FOR
TRADING AND MARKETING EST
ADDRESS
Registered & Physical Address
Location : Al Sulayee Industrial Area, Exit
No. 16
Area : Al Rumaih
PO Box : 1070
Town : Riyadh 11342
Country : Saudi Arabia
Telephone : (966-1) 2701031 / 2416710
Facsimile : (966-1) 2701021 / 2416722
Email : alderea@naseej.com.sa
Premises
Subject operates
from a small 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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Jeddah Distribution
outlet
·
Dammam Distribution
outlet
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Qassim Distribution
outlet
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Khamis Mushyat Distribution
outlet
KEY PRINCIPALS
Name Position
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Khalid
Sulaiman Alderea Proprietor
& General Manager
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Asaad Mohamed
Khadir Commercial
Manager
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Ishitiaq
Mohamed Administrative
Secretary
LEGAL FORM & OWNERS
Date of Establishment : 1994
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1010124027,
Riyadh
Chamber Member No. : 63070
Invested Capital
: SR 500,000
Mr Khalid Sulaiman
Alderea is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the import and distribution of
general merchandise, specialising in foodstuff such as dried nuts, cashew nuts,
and almonds.
Import
Countries: India,
Guatemala, the Far East, the United Kingdom and the United States of America.
International
Suppliers:
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California
Garden United States of
America
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Peter
Commodities Ltd United Kingdom
Brand Names: ALSAFWA
Operating Trend: Steady
Subject has a
workforce of 30 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 10,835,000 SR
14,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
National
Commercial Bank
Airport Road
PO Box : 2800
Riyadh 11461
Tel : (966-1) 4772281
Fax : (966-1) 4730322
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Al Rajhi
Banking & Investment Corporation
PO Box : 28
Riyadh 11411
Tel : (966-1) 4054647 / 4054244
Fax : (966-1) 4044753 / 4052950 / 4037156
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction February 2003 February 2004 February 2005
Credit amount 200,000 253,580 246,720
Amount overdue 0 0 0
Payment terms 180
days 60 days 60 days
Payment Method Letters
of Credit Letters of Credit Letters of Credit
Paying record No
Complaints No Complaints No Complaints
Currency US
Dollars Canadian
Dollars Canadian Dollars
GENERAL COMMENTS
Khalid Alderea For
Trading And Marketing Est began activities in 1994 and has made steady progress
in the local market, operating outlet in several of the country’s main cities.
The business is engaged in the import and distribution of general merchandise,
specialising in foodstuff 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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.40 |
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UK Pound |
1 |
Rs.83.57 |
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Euro |
1 |
Rs.66.02 |
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%)