MIRA
INFORM REPORT
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Report Date : |
31.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL BARAKAH FACTORY FOR ASPHALT EMULSION & WATERPROOFING JCC |
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Registered Office : |
Khalid
Ibn Al Walid Street, Al Sharafiya District, PO Box 30569, Jeddah 21487 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
14.07.2008 |
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Com. Reg. No.: |
4030180967, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Manufacture of Asphalt and Waterproofing
Emulsion |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 20,000 |
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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL BARAKAH FACTORY FOR ASPHALT EMULSION &
WATERPROOFING JCC
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 14th July 2008
Commercial Registration Number : 4030180967, Jeddah
Chamber Membership Number : 131066
Invested Capital : SR 100,000
Total Workforce : 30
Activities : Manufacture of asphalt and waterproofing emulsion
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 20,000
COMPANY NAME
AL BARAKAH FACTORY
FOR ASPHALT EMULSION & WATERPROOFING JCC
ADDRESS
Registered & Physical Address
Street : Khalid
Ibn Al Walid Street
Area : Al
Sharafiya District
PO Box : 30569
Town : Jeddah 21487
Country : Saudi Arabia
Telephone : (966-2) 6531185
Facsimile : (966-2) 6516531
Mobile : (966-55) 4321899
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Jeddah.
KEY PRINCIPALS
Name Position
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Mohamed
Ali Abdul Rahman Al Sheikh Proprietor
& General Manager
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Khalid
Ba Sarda Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 11/07/1429 Hijri (corresponding to 14th July
2008)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030180967, Jeddah
Chamber Member No. : 131066
Invested Capital
: SR 100,000
Mr Mohamed Ali Sheikh is the sole proprietor of the
business.
OPERATIONS
Activities: Engaged in the manufacture of asphalt and waterproofing emulsion.
Subject has a
workforce of 30 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
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
In view of subject’s
infancy, extensive payment and financial are not available, therefore dealings
are recommended to be on secured terms, and a close monitoring of subject’s
business development is advisable.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.25 |
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UK Pound |
1 |
Rs.80.36 |
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Euro |
1 |
Rs.62.84 |
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%)