MIRA
INFORM REPORT
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Report Date : |
12.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
MOHAMED YAHYA MUNSHI EST |
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Registered Office : |
Al
Motasim Building, 4th Floor, Office No. 11, Al Dhahab Street, PO Box 20123, Jeddah 21455 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2007 |
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Year of Establishment : |
1989 |
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Com. Reg. No.: |
4030018094, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and Retail of Leather
Products, Ready Made Garments, Footwear and Imitation Jewellery as well as
Plastic Utensils, and Glassware |
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 : MOHAMED YAHYA MUNSHI EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 1989
Commercial Registration Number : 4030018094, Jeddah
Chamber Membership Number : 30049
Invested Capital : SR 50,000
Total Workforce : 12
Activities :
Wholesale and retail of leather products, ready made
garments, footwear and imitation
jewellery as well as plastic utensils, and glassware
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
Person Interviewed : Vargis Charyan, Administrative Secretary
COMPANY NAME
MOHAMED
YAHYA MUNSHI EST
ADDRESS
Registered & Physical Address
Building : Al
Motasim Building, 4th Floor, Office No. 11
Street : Al
Dhahab Street
PO Box : 20123
Town : Jeddah
21455
Country : Saudi Arabia
Telephone : (966-2) 6470563 / 6486536 / 6486527 /
6472249
Facsimile : (966-2) 6470563
Email : mymunshi@sol.net.sa
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Jeddah.
Branch Office
(s)
Location Description
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Al
Sanabel Centre Rented
showroom premises
Al
Hindawiya District
Jeddah
Tel: (966-2)
6478080
KEY PRINCIPALS
Name Position
·
Mohamed
Yahya Mushi Proprietor
& General Manager
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Moazzam
Mukhtar Ahmed Assistant
General Manager
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Majaz
Murtota Patel Commercial
Manager
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Vargis
Charyan Administrative
Secretary
LEGAL FORM & OWNERS
Date of Establishment : 1989
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030018094, Jeddah
Chamber Member No. : 30049
Invested Capital
: SR 50,000
Mr Mohamed Yahya Mushi is the sole proprietor of the
business.
OPERATIONS
Activities: Engaged in the wholesale and retail of leather products, ready made garments, footwear and
imitation
jewellery as
well as plastic utensils, and glassware.
Import Countries: France, United Kingdom, India and Pakistan
Operating Trend: Steady
Subject has a
workforce of 12 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 9,800,000 SR 10,300,000
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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National
Commercial Bank
Palestine Square
PO Box 7161
Jeddah 21462
Tel: (966-2) 6697384
Fax: (966-2) 6697388
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.
Please note that
the subject denied any knowledge of the address you provided (Wadi Center,
Jeddah).
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.79 |
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UK Pound |
1 |
Rs.75.41 |
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Euro |
1 |
Rs.61.48 |
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%)