MIRA
INFORM REPORT
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Report Date : |
31.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
HUSSEIN OMER BANAFEE EST |
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Registered Office : |
Al
Balad District, PO Box 17928
& 30590, Jeddah 21494 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
12.07.1980 |
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Com. Reg. No.: |
4030024199, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject operates
with a General Trade Licence and is engaged in the 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 : HUSSEIN OMER BANAFEE EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 12th July 1980
Commercial Registration Number : 4030024199, Jeddah
Chamber Membership Number : 8350
Invested Capital : SR 50,000
Total Workforce : 5
Activities : Subject operates with a general trade licence
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
COMPANY NAME
HUSSEIN
OMER BANAFEE EST
ADDRESS
Registered & Physical Address
Location : Al Balad
District
PO Box : 17928 & 30590
Town : Jeddah 21494
Country : Saudi Arabia
Telephone : (966-2) 6489113
/ 6315826
Facsimile : (966-2) 6489116
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
·
Hussein
Omer Banafee Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 29/08/1400 Hijri (corresponding to 12th July
1980)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030024199, Jeddah
Chamber Member No. : 8350
Invested Capital
: SR 50,000
Mr Hussein Omer Banafee is the sole proprietor of the
business.
OPERATIONS
Activities: Subject operates with a general trade licence and is engaged in the import and
distribution of general
merchandise.
Subject has a
workforce of 5 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
·
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.25 |
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UK Pound |
1 |
Rs.80.36 |
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Euro |
1 |
Rs.62.84 |
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%)