MIRA
INFORM REPORT
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Report Date : |
15.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
RUWAD AL JAMAL TRADING EST |
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Registered Office : |
Al
Hayer Street, PO Box 385190, Riyadh 11355 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
18.05. 2003 |
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Com. Reg. No.: |
1010186601, Riyadh |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and Retail of Perfumes
and Cosmetics. |
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 : RUWAD AL JAMAL TRADING EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 18th May 2003
Commercial Registration Number : 1010186601, Riyadh
Chamber Membership Number : 133664
Invested Capital : SR 100,000
Total Workforce : 16
Activities : Wholesale and retail of perfumes and cosmetics.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
RUWAD AL JAMAL
TRADING EST
ADDRESS
Registered & Physical Address
Location : Al Hayer
Street
PO Box : 385190
Town : Riyadh 11355
Country : Saudi Arabia
Telephone : (966-1) 4386401
Facsimile : (966-1) 4386396
Mobile : (966-50) 4486361
Email : ruwad_aljamal@yahoo.com
Premises
Subject operates from
a small suite of offices and a showroom that are rented and located in the
Central Business Area of Riyadh.
Branch Office (s)
Location Description
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Jeddah Rented
showroom premises
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Dammam Rented
showroom premises
KEY PRINCIPALS
Name Position
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Noura
Saeed Al Hajlan Proprietor
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Khalid
Ahmed Al Hajlan General
Manager
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Mahmoud
Abdul Mohsin Sales
Manager
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Refaat
Al Nahas Purchasing
Manager
LEGAL FORM & OWNERS
Date of Establishment : 18th
May 2003
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1010186601,
Riyadh
Chamber Member No. : 133664
Invested Capital
: SR 100,000
Mr Noura Saeed Al Hajlan is the sole proprietor of the
business.
OPERATIONS
Activities: Engaged in the wholesale and retail of perfumes and cosmetics.
Import
Countries: France, Japan
and India
Operating Trend: Steady
Subject has a
workforce of 16 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 10,900,000 SR 11,750,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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National
Commercial Bank
Airport Road
PO Box : 2800
Riyadh 11461
Tel : (966-1) 4772281
Fax : (966-1) 4730322
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%)