MIRA
INFORM REPORT
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Report Date : |
01.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
FAIZA OMAR BAMAKHSH ESTABLISHMENT |
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Registered Office : |
Talat Grounfula Street, Al Balad Area, PO Box 23639, Jeddah 21436 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
19th July 2004 |
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Com. Reg. No.: |
4030150433, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of Textiles and Fabrics |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : FAIZA OMAR BAMAKHSH ESTABLISHMENT
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 19th July 2004
Commercial Registration Number : 4030150433, Jeddah
Membership Number : 99760
Invested Capital : SR 75,000
Total Workforce : 5
Line of Business : Distributors of textiles and fabrics.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
FAIZA OMAR BAMAKHSH ESTABLISHMENT
ADDRESS
Registered & Physical Address
Street : Talat
Grounfula Street
Area : Al Balad
Area
PO Box : 23639
Town : Jeddah 21436
Country : Saudi Arabia
Telephone : (966-2) 6435503
Facsimile : (966-2)
6435536 / 6435593
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Central Business Area of Jeddah.
KEY PRINCIPALS
· Mrs Faiza Bint Omar
Bin Oboud Ba Makhsh Proprietor
·
Ahmed Omar Bin Oboud Ba Makhsh General Manager
LEGAL FORM & OWNERS
Date of
Establishment : 01/06/1425 Hijri
(corresponding to 19th July 2004)
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 4030150433, Jeddah
Membership No. : 99760
Invested Capital : SR 75,000
Mrs Faiza Bint Omar Bin Oboud Ba Makhsh is the sole proprietor of the
business.
Note to the Legal Form
Commonly referred to as an
establishment, the Company Law defines a Sole Proprietorship as the business of
an individual where liability for all debts is unlimited. The business is the
entire responsibility of its proprietor, who is liable for all its debts to the
extent of his entire wealth. There are no legal requirements concerning the amount
of capital of a sole proprietor.
LINE OF BUSINESS
Operations: Engaged in the import and distribution of textiles and fabrics.
Import Countries : Europe and the Far East.
Operating Trend : Steady
Subject has a workforce of 5 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Saudi Riyals (SR)
Year
Ending 31/12/05 : Year
Ending 31/12/06 :
Total Revenue SR
3,750,000 SR
4,150,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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Arab National Bank
Medina Road
PO Box : 9463
Jeddah 21413
Tel : (966-2) 6600272
Fax : (966-2) 6650202
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 2004, subject is owned and managed by Mrs Faiza Bint Omar
Bin Oboud Ba Makhsh who is well respected in the local business community.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the business is deemed a fair trade risk.
Maximum suggested credit figure: US$ 100,000
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%)