MIRA
INFORM REPORT
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Report Date : |
16.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL YAFIE COMPANY |
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Registered Office : |
Al Habib
Commercial Centre Bab Shareef, PO Box
23705, Jeddah 21436 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
06.05.2006 |
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Com. Reg. No.: |
4030161505 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Wholesalers and retailers of ready made garments, shoes and leather products. |
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 : AL YAFIE COMPANY
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 6th May 2006
Commercial Registration Number : 4030161505, Jeddah
Membership Number : 110146
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Total Workforce : 10
Line of Business : Wholesalers and retailers of ready made garments, shoes and leather products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
AL YAFIE COMPANY
ADDRESS
Registered & Physical Address
Building : Al Habib Commercial Centre
Area : Bab Shareef
PO Box : 23705
Town : Jeddah 21436
Country : Saudi Arabia
Telephone : (966-2) 6441601 / 6451087
Facsimile : (966-2) 6442933
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
·
Adel Hassan Al
Yafie Managing
Partner
·
Saleh Hassan Al Yafie Partner
LEGAL FORM & OWNERS
Date of Establishment : 08/04/1427
Hijri (corresponding to 6th May 2006)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 4030161505,
Jeddah
Membership No. :
110146
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Name of Partner (s)
·
Adel Hassan Al
Yafie
·
Saleh Hassan Al Yafie
Notes to the legal
Form
A Limited
Liability Partnership is a private entity formed by two or more partners who
are liable for company debts to the extent of their contributed capital. A
maximum of 50 partners are allowed in such a company. The total share capital
must be SR 500,000 or more, divided into non-negotiable shares of equal value.
The company may not include in its objects the conduct of banking, insurance or
savings.
LINE OF BUSINESS
Operations : Engaged in wholesale and retailer of ready
made garments, shoes and leather
products.
Import Countries
: Europe and the Far East.
Subject has a
workforce of 10 employees.
FINANCIAL HIGHLIGHTS
Subject is a newly formed
business and as a result financial information is not currently available.
BANKERS
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Saudi British
Bank
PO Box : 109
Jeddah 21411
Tel : (966-2) 6512121
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Investigations
undertaken in Jeddah 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%)