MIRA
INFORM REPORT
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Report Date : |
14.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
AHMED ABDUL MOHSIN AL DRESS EST |
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Registered Office : |
Souq
Harat Al Mazloum, PO Box 20956, Jeddah 21645 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
07.12.1992 |
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Com. Reg. No.: |
4030131332, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and Retail of Textiles and Fabrics |
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 : AHMED ABDUL MOHSIN AL DRESS EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 7th December 1992
Commercial Registration Number : 4030131332, Jeddah
Chamber Membership Number : 77132
Invested Capital : SR 50,000
Total Workforce : 6
Activities : Wholesale and retail of textiles and fabrics
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
AHMED ABDUL MOHSIN
AL DRESS EST
ADDRESS
Registered & Physical Address
Location : Souq
Harat Al Mazloum
PO Box : 20956
Town : Jeddah 21645
Country : Saudi Arabia
Telephone : (966-2) 6451062
/ 6451064
Facsimile : (966-2) 6451064
Email : aldress@yahoo.com
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
·
Ahmed
Abdul Mohsin Al Dress Proprietor
& General Manager
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Mohamed
Omer Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 12/06/1413 Hijri (corresponding to 7th December
1992)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030131332, Jeddah
Chamber Member No. : 77132
Invested Capital
: SR 50,000
Mr Ahmed Abdul Mohsin Al Dress is the sole proprietor
of the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of
textiles and fabrics.
Import
Countries: India and
Thailand
Operating Trend: Steady
Subject has a workforce
of 6 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 7,800,000 SR 9,050,000
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.47.71 |
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UK Pound |
1 |
Rs.83.30 |
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Euro |
1 |
Rs.65.12 |
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%)