MIRA
INFORM REPORT
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Report Date : |
17.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
OMAR SAEED BA ABDULRAHEEM AL AMOUDI EST |
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Registered Office : |
Al Ghazali
Building, King Abdulaziz Street, Al Balad Area, PO Box 20134, Jeddah 21455 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
22.02.1999 |
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Com. Reg. No.: |
4030126443, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import, Wholesale and Retail of General Foodstuff,
Household Cleaning Materials and Animal Feed |
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 : OMAR SAEED BA ABDULRAHEEM AL AMOUDI EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 22nd February 1999
Commercial Registration Number : 4030126443, Jeddah
Chamber Membership Number : 71123
Invested Capital : SR 600,000
Total Workforce : 19
Activities : Import, wholesale and retail of general foodstuff, household cleaning
materials and animal feed
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
OMAR SAEED BA
ABDULRAHEEM AL AMOUDI EST
ADDRESS
Registered & Physical Address
Building : Al Ghazali Building
Street : King Abdulaziz Street
Area : Al Balad Area
PO Box : 20134
Town : Jeddah 21455
Country : Saudi Arabia
Telephone : (966-2) 6480880 / 6473630
Facsimile : (966-2) 6482707 / 6472703
Premises
Subject operates from
a small suite of offices and a showroom that are rented and located in the
Central Business Area of Jeddah.
Branch Office (s)
Location Description
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Al Nougoum
Roundabout Rented
warehouse premises
Industrial Area
Jeddah
Tel : (966-2) 6370932
KEY PRINCIPALS
Name Position
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Omar Saeed Ba
Abdulraheem Al Amoudi Proprietor
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Saeed Omar
Saeed Ba Abdulraheem Al Amoudi General
Manager
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Abdullah Omar
Saeed Ba Abdulraheem Al Amoudi Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 07/11/1419
Hijri (Corresponding to 22nd February 1999)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030126443,
Jeddah
Chamber Member No. : 71123
Invested Capital
: SR 600,000
Mr Omar Saeed Ba
Abdulraheem Al Amoudi is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the import, wholesale and retail
of general foodstuff including groceries as well as household cleaning
materials and animal feeds.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 19 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 8,250,000 SR 10,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
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National
Commercial Bank
Al Balad Branch
King Abdulaziz Street
PO Box : 5066
Jeddah 21422
Tel : (966-2) 6434777
Fax : (966-2) 6441686
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Al Rajhi
Banking & Investment Corporation
Palestine Street
PO Box : 4514
Jeddah
Tel : (966-2) 6724554
Fax : (966-2) 6723805
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
Date of
transaction January
2003
Credit amount 300,000
Amount overdue 0
Payment terms 90
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
GENERAL COMMENTS
Omar Saeed Ba Abdulraheem Al Amoudi Est commenced operations in 1999 and is engaged in the import, wholesale and retail of general foodstuff, household cleaning materials and animal feed.
According
to local sources subject is making steady progress in the local business market
and nothing detrimental has been reported regarding the manner in which
payments are fulfilled. As such the business is considered to be 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%)