MIRA
INFORM REPORT
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Report Date : |
19.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL SULTAN MANTLES FACTORY |
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Registered Office : |
Airport Road, P O Box : 25153, Madinah,
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
29-07-1412 Hijri (corresponding to 3rd February
1992) |
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Com. Reg. No.: |
4650001043, Madinah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Manufacture of Arabic men’s clothing and
ladies dresses and gowns |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name :
AL SULTAN MANTLES FACTORY
Country of Origin :
Saudi Arabia
Legal Form :
Sole Proprietorship
Registration Date :
3rd February 1992
Commercial Registration Number :
4650001043, Madinah
Chamber Membership Number :
8177
Invested Capital :
SR 150,000
Total Workforce :
50
Activities :
Manufacture of Arabic men’s clothing and ladies
dresses and gowns.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Recommended Credit Limit :
US$ 200,000
COMPANY NAME
AL SULTAN MANTLES FACTORY
ADDRESS
Registered & Physical Address
Location : Airport Road
PO Box : 25153
Town : Madinah
Country : Saudi Arabia
Telephone : (966-4) 8422070 / 8424493
Facsimile : (966-4) 8424550 / 8424493
Premises
Subject operates from a medium sized suite of offices and a factory that
are rented and located in the Suburban Business Area of Madinah.
Branch Office (s)
Location Description
Al Dawoodiah Centre Rented
sales office
Al Harm Street
Madinah
Tel: (966-4) 8152243
KEY PRINCIPALS
Name Position
Khalid Obaid Mohamed Ali Al Jarbu Proprietor
& General Manager
Mohamed Obaid Mohamed Al Jarbu Assistant
General Manager
Tariq Abdulaziz Sales
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 29-07-1412 Hijri (corresponding to 3rd February
1992)
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 4650001043, Madinah
Chamber Member No. : 8177
Invested Capital : SR 150,000
Mr Khalid Obaid Mohamed Ali Al Jarbu is
the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the manufacture of Arabic men’s
clothing and ladies dresses and gowns.
Import Countries: India
Operating Trend: Steady
Subject has a workforce of 50 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
12,600,000 SR
13,250,000
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
King Abdul Aziz Street
PO Box : 26
Madinah
Tel : (966-4) 8361540 / 8268364
Fax : (966-4) 8366948
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 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.47.08 |
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UK Pound |
1 |
Rs.71.17 |
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Euro |
1 |
Rs.66.98 |
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%)