MIRA
INFORM REPORT
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Report Date : |
09.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
SALEH ABDULAZIZ
AL MUTARI TRADING EST |
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Registered Office : |
Nathah Al Rajhi
Buildings, Building No. 1, 3rd Floor, Suite 304, P O Box 6294
& 39969, Riyadh 11489 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
2006 |
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Com. Reg. No.: |
1010223741, Riyadh |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the
wholesale and retail of electronic products and
accessories, including computers, games and DVD’s. |
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 : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : SALEH ABDULAZIZ AL MUTARI TRADING EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 2006
Commercial Registration Number : 1010223741, Riyadh
Membership Number : 171545
Invested Capital : SR
Total Workforce : 6
Line of Business : Wholesalers and retailers of electronic products and accessories.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
SALEH ABDULAZIZ AL
MUTARI TRADING EST
ADDRESS
Registered & Physical Address
Location : Nathah Al Rajhi Buildings,
Building No. 1, 3rd Floor, Suite 304
PO Box : 6294 & 39969
Town : Riyadh 11489
Country : Saudi Arabia
Telephone : (966-1) 4011034
/ 4591021 / 4390445
Facsimile : (966-1) 4010712
/ 4392279
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Riyadh.
KEY PRINCIPALS
·
Saleh
Abdulaziz Al Mutari Proprietor
& General Manager
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Sayen
Ather Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 2006
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1010223741,
Riyadh
Membership No. :
171545
Invested Capital
: SR 50,000
Mr Saleh Abdulaziz Al Mutari 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 wholesale and retail of electronic products and accessories, including computers,
games and DVD’s.
Import Countries
: Europe and the Far East.
Subject has a
workforce of 6 employees.
FINANCIAL HIGHLIGHTS
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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Arab National
Bank (ANB)
King Faisal Street
PO Box : 56921
Riyadh 11564
Tel : (966-1) 4029000
Fax : (966-1) 4027747
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%)