MIRA
INFORM REPORT
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Report Date : |
23.12.2008 |
IDENTIFICATION DETAILS
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Name : |
ABDUL HADI A ALI AL SHAMMARY TRADING AND CONTRACTING CO |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
17.03.1985 |
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Com. Reg. No.: |
4700002302, Yanbu |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import and Distribution of Electrical, Electromechanical and Telecommunication
Products, as well as Oilfield Products, Valves and Steel Supplies |
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 : ABDUL HADI A ALI AL SHAMMARY TRADING AND CONTRACTING CO
Country of Origin :
Legal Form : Limited Liability Partnership
Registration Date : 17th March 1985
Commercial Registration Number : 4700002302, Yanbu
Chamber Membership Number : 1781
Issued Capital : SR 1,000,000
Paid up Capital : SR 1,000,000
Total Workforce : 30
Activities :
Import and distribution of electrical,
electromechanical and
telecommunication products, as
well as oilfield products, valves and
steel supplies
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
COMPANY NAME
ABDUL HADI A ALI AL
SHAMMARY TRADING AND CONTRACTING CO
ADDRESS
Registered & Physical Address
Street :
Area : Al Bahr
Area
PO Box : 1181 & 1022
Town : Yanbu
Country :
Telephone : (966-4) 3222057 / 3228247
Facsimile : (966-4) 3222657
Email : shammaryanbu@shammaryest.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Yanbu.
Branch Office
(s)
Location Description
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Jeddah 21497
Tel: (966-2) 2842236 / 2842237
Fax: (966-2) 2842238
KEY PRINCIPALS
Name Position
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Abdul Hadi Aqel Ali Al Shammary Managing
Partner
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Fahd Abdul Hadi Aqel Ali Al Shammary Partner
LEGAL FORM & OWNERS
Date of Establishment : 25-06-1405 Hijri (corresponding to 17th
March 1985)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 4700002302, Yanbu
Chamber Member No. : 1781
Issued Capital : SR 1,000,000
Paid up Capital : SR 1,000,000
Name of Partner (s)
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Abdul Hadi Aqel Ali Al Shammary
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Fahd Abdul Hadi Aqel Ali Al Shammary
OPERATIONS
Activities: Engaged in the import and distribution of electrical,
electromechanical and telecommunication products, as well as oilfield products,
valves and steel supplies.
Import
Countries:
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 14,600,000 SR 17,100,000
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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Arab
National Bank (ANB)
PO Box : 483
Yanbu
Tel : (966-4) 3226201
Fax : (966-4) 3227626
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.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.99 |
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1 |
Rs.72.49 |
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Euro |
1 |
Rs.68.44 |
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%)