MIRA
INFORM REPORT
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Report Date : |
30.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
MUBARAK AHAMED MUSAHAD TRADING COMPANY |
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Registered Office : |
King Abdulziz Street, 1705, Onaiza |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
31.12.2003 |
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Com. Reg. No.: |
1128005579 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the wholesale and retail of ready made garments, household
appliances, textiles and beauty products. |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : MUBARAK AHMAD MUSAHAD TRADING CO
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 31st December 2003
Commercial Registration Number : 1128005579
Membership Number : 71400
Issued Capital : SR 3,000,000
Paid up Capital : SR 3,000,000
Total Workforce : 110
Line of Business : Wholesalers and retailers of ready made garments,
household appliances, textiles and beauty
products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY
NAME
MUBARAK AHMAD MUSAHAD TRADING CO
ADDRESS
Registered & Physical Address
Location :
King Abdulaziz Street
PO Box :
1705
Town :
Onaiza
Country :
Saudi Arabia
Telephone :
(966-6) 3644375 / 3641304 / 3618673
Facsimile :
(966-6) 3644375
Mobile :
(966-50) 4899615
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Onaiza.
Branch
Offices
Subject has branch offices located in Riyadh and Al Hasa.
KEY
PRINCIPALS
·
Mubarak Ahmad
Musahad Al Qahtani Managing
Partner
·
Khamis Mubarak Ahmad Musahad Al Qahtani Partner
LEGAL
FORM & OWNERS
Date of
Establishment : 07/11/1424 Hijri (corresponding to 31st
December 2003)
Legal Form : Limited Liability Partnership
Commercial Reg.
No. : 1128005579
Membership No. : 71400
Issued Capital : SR 3,000,000
Paid up Capital :
SR 3,000,000
Name
of Partner (s)
·
Mubarak Ahmad
Musahad Al Qahtani
·
Khamis Mubarak Ahmad Musahad Al Qahtani
LINE
OF BUSINESS
Operations : Engaged in the wholesale and retail of
ready made garments, household
appliances, textiles and beauty products.
Import Countries : Europe and the Far East.
Operating Trend : Steady
Subject has a workforce of 110 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 27,200,000 SR 31,950,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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National
Commercial Bank
Batha Branch
PO Box : 34
Riyadh 11411
Tel : (966-1) 4010076 / 4025084
Fax : (966-1) 4034625
PAYMENT
HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL
COMMENTS
Established in
2003, subject is involved in the wholesale and retail of ready made garments,
household appliances, textiles and beauty products.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the business is deemed a fair trade risk.
Maximum suggested
credit figure: US$ 200,000
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%)