MIRA
INFORM REPORT
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Report Date : |
24.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
TAMIM NAMSHAN AL DOSSARY TRADING ESTABLISMENT |
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Registered Office : |
Commercial Area, PO Box 3031, Al Khobar 31952 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
19.01.1992 |
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Com. Reg. No.: |
2050032769, Al Khobar |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributor of General Foodstuff and Providers of General Contracting Services |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : TAMIM NAMSHAN AL DOSSARY TRADING ESTABLISMENT
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 19th January 1992
Commercial Registration Number : 2050032769, Al Khobar
Membership Number : 13927
Invested Capital : SR 100,000
Total Workforce : 5
Line of Business : Distributor of general foodstuff and providers of
general contracting services.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
TAMIM NAMSHAN AL DOSSARY TRADING ESTABLISMENT
ADDRESS
Registered & Physical Address
Location : Commercial
Area
PO Box : 3031
Town : Al Khobar
31952
Country : Saudi Arabia
Telephone : (966-3) 8054211
/ 8255283
Facsimile : (966-3)
8260860
Mobile : (966-55)
9093121
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Central Business Area of Al Khobar.
KEY PRINCIPALS
· Tamim Namshan Al
Dossary Proprietor
& General Manager
· Adel Al Sayed Sales
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 14/07/1421 Hijri (corresponding
to 19th January 1992)
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 2050032769, Al Khobar
Membership No. : 13927
Invested Capital : SR 100,000
Mr Tamim Namshan Al Dossary 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 general foodstuff products
and
providers of general contracting services.
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
7,620,000 SR
7,750,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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National Commercial Bank
PO Box : 1
Al Khobar 31952
Tel : (966-3)
8949669
Fax : (966-3)
8646474
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1992, subject is owned and managed by Mr Tamim Namshan Al
Dossary who is well respected in the local business community.
During the course of this investigation nothing detrimental was
uncovered regarding subject’s operating history or the manner in which payments
are fulfilled. As such the business is considered to be a fair trade risk.
Maximum suggested credit figure: US$ 150,000
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%)