MIRA
INFORM REPORT
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Report Date : |
18.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
MOHAMED HUSSAIN AL SHALLA TRADE EST |
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Registered Office : |
Al Rafaa Area, Al Hofuf, PO Box
3918, Al Hasa 31982 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1978 |
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Com. Reg. No.: |
1104,
Al Hasa |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Manufacturers,
Wholesalers and Retailers of Chocolate,
Confectionery and Snacks |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 500,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : MOHAMED HUSSAIN AL SHALLA TRADE EST
Country of Origin : Saudi
Arabia
Legal Form :
Sole Proprietorship
Registration Date : 1978
Commercial
Registration Number : 1104, Al Hasa
Chamber Membership
Number : 2502
Invested Capital : SR
150,000
Total Workforce : 85
Activities :
Manufacturers, wholesalers and retailers of chocolate,
confectionery and snacks
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 500,000
COMPANY NAME
MOHAMED HUSSAIN AL SHALLA TRADE EST
ADDRESS
Registered & Physical Address
Location : Al Rafaa Area, Al Hofuf
PO Box : 3918
Town : Al Hasa 31982
Country : Saudi Arabia
Telephone : (966-3) 5863928
Facsimile : (966-3) 5867812
Mobile : (966-50)
5925579
Premises
Subject operates from a medium sized suite of offices and a factory that
are owned and located in the Industrial Area of Al Hasa.
Branch Office (s)
Location Description
· Prince
Salman Street, Exit No. 17 Rented
showroom premises
Riyadh
Tel:
(966-1) 2425257
· Petromin
Street Rented
showroom premises
Jeddah
Tel:
(966-2) 2310531
KEY PRINCIPALS
Name Position
· Mohamed
Hussain Al Shalla Proprietor
· Hussain
Mohamed Hussain Al Shalla General
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1978
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 1104, Al Hasa
Chamber Member No. : 2502
Invested Capital : SR 150,000
Mr Mohamed Hussain Al Shalla is the
sole proprietor of the business.
OPERATIONS
Activities: Subject’s activities are performed through the following divisions:
·
Saudi Chocolate Factory
Under
this division subject specialises in the manufacture of chocolate.
·
General Trading Division
Wholesalers
and retailers of chocolate, confectionery and snacks.
Import Countries: India and Europe.
Operating Trend: Steady
Subject has a workforce of 85 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:
Sales SR
47,500,000 SR
52,000,000
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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Al Bank Al Saudi Al Hollandi
Al Koot Street
Hofuf
PO Box : 1525
Al Hasa
Tel : (966-3) 5871564
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%)