MIRA
INFORM REPORT
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Report Date : |
28.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
SALEH AL MUBAYAD TRADING EST |
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Registered Office : |
King Saud Street,
PO Box 8591, Dammam 31492 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
05.02. 1990 |
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Com. Reg. No.: |
2050019756, Dammam |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and Retail of Vegetables and Fruit. |
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 : SALEH AL MUBAYAD TRADING EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 5th February 1990
Commercial Registration Number : 2050019756, Dammam
Chamber Membership Number : 22467
Invested Capital : SR 20,000
Total Workforce : 8
Activities : Wholesale and retail of vegetables and fruit.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
SALEH AL MUBAYAD
TRADING EST
ADDRESS
Registered & Physical Address
Location : King Saud Street
PO Box : 8591
Town : Dammam 31492
Country : Saudi Arabia
Telephone : (966-3) 8185969 / 8175969 / 8175866
Facsimile : (966-3) 8175764 / 8172199
Mobile : (966-50) 5856269
Email : smubayad@hotmail.com
Premises
Subject operates
from a small suite of offices and a retail outlet with storage facilities that
are rented and located in the Central Business Area of Dammam.
KEY PRINCIPALS
Name Position
·
Saleh Abdul
Kareem Abdullah Al Mubayad Proprietor
& General Manager
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Hashim
Ibrahim Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 10/07/1410
Hijri (Corresponding to 5th February 1990)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 2050019756,
Dammam
Chamber Member No. : 22467
Invested Capital
: SR 20,000
Mr Saleh Abdul
Kareem Abdullah Al Mubayad is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of
vegetables and fruit.
Import
Countries: India and the Middle
East.
Operating Trend: Steady
Subject has a
workforce of 8 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 6,700,000 SR 7,250,000
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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Riyad Bank
Prince Mohammed Street
Jalawaih Quarter
PO Box: 5557
Dammam
Tel: (966-3) 8323440
Fax: (966-3) 8337829
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Saleh Al Mubayad
Trading Est commenced activities in 1990 and is engaged in the wholesale and
retail of vegetables and fruit.
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%)