MIRA INFORM REPORT

 

 

Report Date :

17.11.2008

 

IDENTIFICATION DETAILS

 

Name :

AL SHOWIMAN TRADING EST

 

 

Registered Office :

140827, Jeddah 21333

 

 

Country :

Saudi Arabia

 

 

Date of Incorporation :

28.01.2005

 

 

Com. Reg. No.:

4030153339, Jeddah

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Engaged as traders of general merchandise

 

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Undetermined


SUMMARY

 

Company Name                                     : AL SHOWIMAN TRADING EST

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Sole Proprietorship

Registration Date                                   : 28th January 2005       

Commercial Registration Number            : 4030153339, Jeddah

Chamber Membership Number                : 102387

Invested Capital                                     : SR 50,000

Total Workforce                                     : 10

Activities                                               : Engaged as traders of general merchandise

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

 

COMPANY NAME

 

AL SHOWIMAN TRADING EST

 

 

ADDRESS

 

Registered & Physical Address

 

PO Box             : 140827

Town                 : Jeddah 21333

Country             : Saudi Arabia

Telephone         : (966-2) 2872391

Facsimile          : (966-2) 2872391

Mobile               : (966-50) 1675001

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Mrs Fawziyah Ali Mohamed Al Showiman                                           Proprietor

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 18/12/1425 Hijri (corresponding to 28th January 2005)

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.  : 4030153339, Jeddah

 

Chamber Member No. : 102387

 

Invested Capital           : SR 50,000

 

Mrs Fawziyah Ali Mohamed Al Showiman is the sole proprietor of the business.

 

 

OPERATIONS

 

Activities: Engaged as traders of general merchandise.

 

Subject has a workforce of 10 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

 

·       N/A

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Al Showiman Trading Est was registered in January 2005 as general traders. During the course of this investigation nothing detrimental was uncovered regarding subject’s operating history or the manner in which payments are fulfilled.

 

Local sources report that they were unable to confirm the above registered details with the subject directly as the contact numbers, despite having been tried on numerous occasions, remained constantly unanswered.

 

Please note that sources at the Jeddah Chamber of Commerce stated they have no listing under CR No. 4030168126.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.74

UK Pound

1

Rs.74.37

Euro

1

Rs.62.78

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions