MIRA
INFORM REPORT
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Report Date : |
06.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
NAMMA TRADING CO LTD |
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Registered Office : |
Jeddah Industrial
City, PO Box 7195, Jeddah 21462 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
20.01.2003 |
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Com. Reg. No.: |
4030141465, Jeddah |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Plastic Recycling and Metal Scrap Baling |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 50,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : NAMMA TRADING CO LTD
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 20th January 2003
Commercial Registration Number : 4030141465, Jeddah
Chamber Membership Number : 97742
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Total Workforce : 20
Activities : Plastic recycling and metal scrap baling
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 50,000
COMPANY NAME
NAMMA TRADING CO
LTD
ADDRESS
Registered & Physical
Address
Location : Jeddah Industrial City
PO Box : 7195
Town : Jeddah 21462
Country : Saudi Arabia
Telephone : (966-2) 6581188 / 8059588 / 6822112
Facsimile : (966-2) 6587306 / 6914927
Email : basharat@nesma.com
Premises
Subject operates
from a medium sized suite of offices and production facilities that are rented
and located in the Industrial Area of Jeddah.
KEY PRINCIPALS
Name Position
·
Shashi K Prem Managing
Partner
LEGAL FORM & OWNERS
Date of Establishment : 17/11/1423 Hijri (corresponding to 20th
January 2003)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 4030141465, Jeddah
Chamber Member No. : 97742
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Name of Partner (s)
·
Shashi K Prem
·
Members of Mr
Shashi K Prem’s family
OPERATIONS
Activities: Engaged in plastic recycling and metal
scrap baling.
Subject has a
workforce of 20 employees.
FINANCIAL DATA
Companies registered
in Saudi Arabia are not legally required to make their accounts public and no
financial information was released by the company or submitted by outside
sources.
BANKERS
·
National
Commercial Bank
Al Balad Branch
King Abdulaziz Street
PO Box : 5066
Jeddah 21422
Tel : (966-2) 6434777
Fax : (966-2) 6441686
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
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.
Local sources tried
the contact numbers on many occasions but were unable to make direct contact
with the subject.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 42.00 |
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UK Pound |
1 |
Rs. 82.14 |
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Euro |
1 |
Rs. 65.09 |
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%)