MIRA
INFORM REPORT
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Report Date : |
23.12.2008 |
IDENTIFICATION DETAILS
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Name : |
KHALID MOHAMED HAGAS EST |
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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 : |
26.09.1988 |
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Com. Reg. No.: |
4030061930, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and Distribution of General Merchandise,
Specialising in Foodstuff |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : KHALID MOHAMED HAGAS EST
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 26th September 1988
Commercial Registration Number : 4030061930, Jeddah
Chamber Membership Number : 29897
Invested Capital : SR 50,000
Total Workforce : 5
Activities : Import and distribution of general merchandise, specialising in foodstuff
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
KHALID
MOHAMED HAGAS EST
ADDRESS
Registered & Physical Address
Location :
PO Box : 16833
Town : Jeddah
21474
Country :
Telephone : (966-2) 6239104
Facsimile : (966-2) 6239104
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Jeddah.
KEY PRINCIPALS
Name Position
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Khalid Mohamed Abdullah Hagas Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 15-02-1409 Hijri (corresponding to 26th
September 1988)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030061930, Jeddah
Chamber Member No. : 29897
Invested Capital
: SR 50,000
Mr Khalid Mohamed Abdullah Hagas is the sole proprietor
of the business.
OPERATIONS
Activities: Engaged in the import and distribution of
general merchandise, specialising in foodstuff.
Import
Countries:
Operating Trend: Steady
Subject has a
workforce of 5 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 8,475,000 SR 9,600,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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National
Commercial Bank
Al Balad Branch
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 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.48.49 |
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1 |
Rs.71.89 |
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Euro |
1 |
Rs.67.86 |
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%)