MIRA INFORM REPORT
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Report Date : |
20.11.2008 |
IDENTIFICATION DETAILS
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Name : |
FAYEZ MOHAMED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
19.10.
2004 |
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Com. Reg. No.: |
4030151982,
Jeddah |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Wholesale and retail of general foodstuff, seeds, spices and beans |
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 : FAYEZ MOHAMED
Country of Origin :
Legal Form :
Sole Proprietorship
Registration Date : 19th October 2004
Commercial
Registration Number : 4030151982, Jeddah
Chamber Membership
Number : 102211
Invested Capital : SR 50,000
Total Workforce : 8
Activities :
Wholesale and retail of general foodstuff, seeds,
spices and beans
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 150,000
COMPANY NAME
FAYEZ MOHAMED
ADDRESS
Registered &
Physical Address
Location :
PO Box : 52389
Town : Jeddah 21481
Country :
Telephone : (966-2) 6363455
Facsimile : (966-2)
6363425
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Jeddah.
KEY PRINCIPALS
Name Position
· Fayez Mohamed Al
Rashed Proprietor
& General Manager
· Bander
Akarin Assistant
General Manager
· Mohamed
Abdulrahman Sales
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 05/09/1425 Hijri (corresponding to 19th October
2004)
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 4030151982,
Jeddah
Chamber Member No. : 102211
Invested Capital : SR 50,000
Mr Fayez Mohamed Al Rashed is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of
general foodstuff, seeds, spices and beans.
Import Countries:
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
6,800,000 SR
7,590,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
National Commercial Bank
Jeddah
21481
Tel:
(966-2) 6493333
Acc No. 41347148000209
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.50.52 |
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1 |
Rs.75.54 |
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Euro |
1 |
Rs.63.12 |
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%)