MIRA
INFORM REPORT
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Report Date : |
18.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL GHAB TRADING EST |
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Registered Office : |
Rosais Building, Al Wazeer Street, Al Batha
District PO Box 91636, Riyadh 11643 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
27.10.1993 |
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Com. Reg. No.: |
1010117118, Riyadh |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and Retail of Textiles,
Fabric and Cloth. |
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 : AL GHAB TRADING EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 27th October 1993
Commercial Registration Number : 1010117118, Riyadh
Membership Number : 635558
Invested Capital : SR 250,000
Total Workforce : 60
Line of Business : Wholesale and retail of textiles, fabric and cloth.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL GHAB TRADING EST
ADDRESS
Registered & Physical Address
Building : Rosais
Building
Street : Al Wazeer
Street
Area : Al Batha District
PO Box : 91636
Town : Riyadh 11643
Country : Saudi Arabia
Telephone : (966-1) 4020811
Facsimile : (966-1) 4024562
Email : alghab@gmail.com
Premises
Subject operates from a medium sized suite of offices and a showroom
that are rented and located in the Central Business Area of Riyadh.
Branch Office (s)
Location Description
· Souq
Al Jamah Rented
showroom premises
Al Balad Area
PO
Box 17601
Jeddah
21484
Tel:
(966-2) 6433848
Fax:
(966-2) 6428646
Subject operates a total of 11 showrooms located in
the following cities; Dammam, Al Khobar, Taif, Hail,
Madinah and Khamis Mushyat.
KEY PRINCIPALS
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Hamd Hadi Al Mokhlis Proprietor
& General Manager
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Hussain Hadi Al Mokhlis Jeddah
Branch Manager
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Salman Hadi Al Mokhlis Riyadh
Branch Manager
LEGAL FORM & OWNERS
Date of
Establishment : 12/05/1414 Hijri (Corresponding to 27th October
1993)
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 1010117118,
Riyadh
Membership No. : 635558
Invested Capital : SR 250,000
Mr Hamd Hadi Al Mokhlis 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 wholesale and retail of textiles,
fabric and cloth.
Import Countries: Pakistan, China, India and Egypt.
Operating Trend : Steady
Subject has a workforce of 60 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Saudi Riyals (SR)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Revenue SR
47,900,000 SR
50,350,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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Al Rajhi Banking & Investment Corporation
PO Box : 28
Riyadh 11411
Tel : (966-1)
4054647 / 4054244
Fax : (966-1)
4044753 / 4052950 / 4037156
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Al Ghab Trading Est has been in business for approximately
15 years and has made good progress in the local market with 11 showrooms
located throughout the country.
During the course of this investigation nothing detrimental was
uncovered regarding the manner in which payment obligations are fulfilled. The
operating history is clear and the financial situation is satisfactory. As such
we are of the opinion that the subject is a fair trade risk.
Maximum suggested credit figure: US$ 250,000
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%)