MIRA
INFORM REPORT
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Report Date : |
17.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL SAAD TRADING CO LTD |
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Registered Office : |
University
Street, Souq Matib Area, PO Box 4990 & 107137, Jeddah
21412 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
15.01.1990 |
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Com. Reg. No.: |
4030069092, Jeddah |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Wholesale and Retail of General
Foodstuff |
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 : AL SAAD TRADING CO LTD
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 15th January 1990
Commercial Registration Number : 4030069092, Jeddah
Chamber Membership Number : 32758
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Total Workforce : 20
Activities : Wholesale and retail of general foodstuff
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
AL SAAD TRADING CO
LTD
ADDRESS
Registered & Physical Address
Street : University
Street
Area : Souq
Matib Area
PO Box : 4990 & 107137
Town : Jeddah 21412
Country : Saudi Arabia
Telephone : (966-2) 6897003
Facsimile : (966-2) 6880804
Email : rami.sa.1@hotmail.com
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
Name Position
·
Hani
Mohamed Moosa Al Sharaf Managing
Partner
·
Saad
Abdul Hamid Ismail Partner
·
Rami
Mohamed Moosa Al Sharaf General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 19/06/1410 Hijri (corresponding to 15th January
1990)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 4030069092, Jeddah
Chamber Member No. : 32758
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Name of Partner (s)
·
Hani
Mohamed Moosa Al Sharaf
·
Saad
Abdul Hamid Ismail
OPERATIONS
Activities: Engaged in the wholesale and retail of general foodstuff, including dried foodstuff, sweets, nuts
and
confectionery
items.
Import
Countries: India, Malaysia,
Thailand and the Middle East
Operating Trend: Steady
Subject has a
workforce of 20 employees.
FINANCIAL DATA
Financial highlights
provided by local sources are given below:
Currency: Saudi
Riyals (SR)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Sales SR 10,500,000 SR 12,750,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr Rami Mohamed Moosa Al
Sharaf, General Manager.
BANKERS
·
Arab National
Bank (ANB)
Madinah Road
PO Box : 9463
Jeddah 21413
Tel : (966-2) 6600272
Fax : (966-2) 6650202
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
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.
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%)