MIRA
INFORM REPORT
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Report Date : |
25.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL TAKATUF TRADING & CONTRACTING EST |
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Registered Office : |
Souq
Al Alawi Street, Al Balad District, PO Box 17500, Jeddah 21484 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
20.04.1974 |
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Com. Reg. No.: |
4030008226, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject’s operations are performed through the following divisions: General
Trading Division, Advertising Division, Stationery Division, Construction
Division |
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 : AL TAKATUF TRADING & CONTRACTING EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 20th April 1974
Commercial Registration Number : 4030008226, Jeddah
Chamber Membership Number : 3071
Invested Capital : SR 50,000
Total Workforce : 65
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
AL TAKATUF TRADING
& CONTRACTING EST
ADDRESS
Registered & Physical Address
Street : Souq
Al Alawi Street
Area : Al
Balad District
PO Box : 17500
Town : Jeddah 21484
Country : Saudi Arabia
Telephone : (966-2) 6448074 / 6445368 / 6452129
Facsimile : (966-2) 6437166
Mobile : (966-50) 622162
Email : director@altakatuf.com
Premises
Subject operates
from a medium sized suite of offices and a showroom with storage facilities
that are rented and located in the Central Business Area of Jeddah.
Branch Office
(s)
Location Description
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Al
Ruwais Area Rented
sales office
Jeddah
Tel: (966-2) 6452124
Fax: (966-2)
6452129
KEY PRINCIPALS
Name Position
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Abdul
Gafour Mohamed Abdul Gafour Mohamed Nour Proprietor
& General Manager
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Mohamed
Abdul Gafour Mohamed Abdul Gafour Mohamed Nour Assistant
General Manager
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Omran
Baker Saddiq Commercial
Manager
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Ali Peekay Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 28/03/1394 Hijri (corresponding to 20th April
1974)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030008226, Jeddah
Chamber Member No. : 3071
Invested Capital
: SR 50,000
Mr Abdul Gafour Mohamed Abdul Gafour Mohamed Nour is
the sole proprietor of the business.
OPERATIONS
Activities: Subject’s operations are performed through
the following divisions:
·
General Trading Division
Engaged in the
wholesale and retail of general foodstuff and merchandise.
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Advertising Division
Engage in the
provision of advertising services and promotional services.
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Stationery Division
Import and trader of
school and office stationery
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Construction Division
Engaged as general
construction contractors.
Import
Countries: Spain, Germany
and India
Operating Trend: Steady
Subject has a
workforce of 65 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 22,000,000 SR 26,900,000
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
Al Balad Branch
King Abdulaziz Street
PO Box : 5066
Jeddah 21422
Tel: (966-2) 6434777
Fax: (966-2) 6441686
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.49.85 |
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UK Pound |
1 |
Rs.76.60 |
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Euro |
1 |
Rs.64.68 |
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%)