MIRA
INFORM REPORT
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Report Date : |
02.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL ESAIL FOR TRADING |
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Registered Office : |
Al
Balad Area, PO Box 32224 & 40464,
Jeddah 21438 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
01.11. 1987 |
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Com. Reg. No.: |
4030059008, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and Distribution of General Merchandise. |
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 : AL ESAIL FOR TRADING
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 1st November 1987
Commercial Registration Number : 4030059008, Jeddah
Chamber Membership Number : 55732
Invested Capital : SR 70,000
Total Workforce : 4
Activities : Import and distribution of general merchandise.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
COMPANY NAME
AL ESAIL FOR
TRADING
ADDRESS
Registered & Physical Address
Location : Al Balad
Area
PO Box : 32224 & 40464
Town : Jeddah 21438
Country : Saudi Arabia
Telephone : (966-2) 6720306
Facsimile : (966-2) 6729919
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Jeddah.
KEY PRINCIPALS
Name Position
·
Abid
Abdulrahman Mohamed Al Esail Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 10/03/1408 Hijri (Corresponding to 1st
November 1987)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030059008, Jeddah
Chamber Member No. : 55732
Invested Capital
: SR 70,000
Mr Abid Abdulrahman Mohamed Al Esail is the sole
proprietor of the business.
OPERATIONS
Activities: Engaged in the import and distribution of
general merchandise.
Import
Countries: India and Japan.
Subject has a
workforce of 4 employees.
FINANCIAL DATA
Companies
registered in Saudi Arabia are not legally required to make their accounts
public and no financial information was released by the company or submitted by
outside sources.
BANKERS
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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 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%)