MIRA
INFORM REPORT
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Report Date : |
15.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
ALI SAAD ALAMARI TRADING EST |
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Registered Office : |
Prince Saud Street, PO Box
246622, Riyadh
11312 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
05.01.2007 |
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Com. Reg. No.: |
1010239734,
Riyadh |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Import and Distribution of General Merchandise. |
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 : |
New & Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ALI SAAD ALAMARI
TRADING EST
Country of Origin : Saudi
Arabia
Legal Form :
Sole Proprietorship
Registration Date : 5th
January 2007
Commercial
Registration Number : 1010239734, Riyadh
Membership Number : 189224
Invested Capital : SR 50,000
Total Workforce : 3
Line of Business : Import and distribution of general merchandise.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
COMPANY NAME
ALI SAAD ALAMARI TRADING EST
ADDRESS
Registered & Physical Address
Location : Prince Saud Street
PO Box : 246622
Town : Riyadh 11312
Country : Saudi Arabia
Telephone : (966-1) 4133646
Facsimile : (966-1) 4133646
Mobile :
(966-55) 4155542
Premises
Subject operates from a small suite of offices and a showroom that are rented
and located in the Central Business Area of Riyadh.
KEY PRINCIPALS
·
Ali Saad Al Amari Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of
Establishment : 5th
January 2007
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 1010239734,
Riyadh
Membership No. : 189224
Invested Capital : SR 50,000
Mr Ali Saad Al Amari is the sole
proprietor of the business.
Note to the Legal Form
Commonly referred to as an establishment, the Company Law defines
Mouassasa Khassa 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
general merchandise.
Import Countries: India and the United States of America
Subject has a workforce of 3 employees.
FINANCIAL HIGHLIGHTS
Subject is a newly formed business and as a result financial information
is not currently available.
BANKERS
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National Commercial Bank
Airport Road
PO Box : 2800
Riyadh 11461
Tel : (966-1)
4772281
Fax : (966-1)
4730322
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Investigations undertaken in Riyadh did not reveal any sign of payment
defaults or delays during initial trading stages, and subject is believed to
meet its payment obligations in a timely manner, nevertheless, and in view of
the company’s infancy and the lack of a more consistent payment and financial
record, a measure of caution is advisable and a close monitoring of subject’s
business development is recommended.
Maximum suggested credit figure: US$ 50,000
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%)