MIRA
INFORM REPORT
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Report Date : |
17.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
SULEIMAN SALIM BASUGMA TRADING EST |
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Registered Office : |
King
Abdulaziz Street, Al Balad District, Hayya Al Bahara, PO Box 8929, Jeddah 21492 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1980 |
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Com. Reg. No.: |
4030020664, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importers, Suppliers and
Commission Agents Dealing in Agricultural Commodities. |
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 : SULEIMAN SALIM BASUGMA TRADING EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 1980
Commercial Registration Number : 4030020664, Jeddah
Chamber Membership Number : 4337
Invested Capital : SR 60,000
Total Workforce : 5
Activities :
Importers, suppliers and commission agents dealing in
agricultural
commodities.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
SULEIMAN
SALIM BASUGMA TRADING EST
ADDRESS
Registered & Physical Address
Street : King
Abdulaziz Street
Area : Al
Balad District, Hayya Al Bahara
PO Box : 8929
Town : Jeddah
21492
Country : Saudi Arabia
Telephone : (966-2) 6482763
Facsimile : (966-2) 6482328
Email : basugma@zajil.net.sa
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
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Suleiman
Salim Basugma Proprietor
& General Manager
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Khalil
Wangde Administration
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1980
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030020664, Jeddah
Chamber Member No. : 4337
Invested Capital
: SR 60,000
Mr Suleiman Salim Basugma is the sole proprietor of the
business.
OPERATIONS
Activities: Engaged as importers,
suppliers and commission agents dealing in agricultural commodities.
Import
Countries: India and China
Operating Trend: Steady
Subject has a
workforce of 5 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 9,350,000 SR 10,100,000
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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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.
GENERAL COMMENTS
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.
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%)