MIRA INFORM REPORT

 

 

Report Date :           

06.04.2011

 

IDENTIFICATION DETAILS

 

Name :

SALMAN AL JOHAR TRADING EST

 

 

Registered Office :

3rd Industrial Area, P O Box 90835, Riyadh 11623

 

 

Country :

Saudi Arabia

 

 

Date of Incorporation :

10.10.1999

 

 

Com. Reg. No.:

1010155740, Riyadh

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Subject operates through several divisions Salman Al Johar Ferro Alloys, Salman Al Johar Steel Rolling Factory and Salman Al Johar Sponge Iron Factory

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

US$ 250,000

Status :

Satisfactory

Payment Behaviour :

No Complaints

Litigation :

Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

Saudi Arabia

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : SALMAN AL JOHAR TRADING EST

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Sole Proprietorship

Registration Date                                   : 10th October 1999

Commercial Registration Number            : 1010155740, Riyadh

Chamber Membership Number                : 97002

Invested Capital                                     : SR 200,000

Total Workforce                                     : 250

Activities                                               : Subject operates several divisions (see below for details)

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 250,000

Person Interviewed                                 : Mohamed Qatari, Assistant General Manager

 

 

COMPANY NAME

 

SALMAN AL JOHAR TRADING EST

 

 

company ADDRESS

 

Registered & Physical Address

Location            : 3rd Industrial Area

PO Box             : 90835

Town                 : Riyadh 11623

Country             : Saudi Arabia

Telephone         : (966-1) 2652197 / 2650212

Facsimile          : (966-1) 2655455

Mobile               : (966-56) 5856516

 

Premises

Subject operates from a large suite of offices and a factory that are rented and located in the Industrial Area of Riyadh.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Salman Johar Al Johar                                                                       Proprietor & General Manager

 

·       Mohamed Qatari                                                                               Assistant General Manager

 

·       Mohamed Al Adawi                                                                           Administration Executive

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 01/09/1420 Hijri (corresponding to 10th October 1999)

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.  : 1010155740, Riyadh

 

Chamber Member No. : 97002

 

Invested Capital           : SR 200,000

 

Mr Salman Johar Al Johar is the sole proprietor of the business.

 

 

AFFILIATED COMPANIES

 

·       Wofoor Trade & Industry Co

PO Box: 90835

Riyadh 11623

CR No. 1010101015

 

 

OPERATIONS

 

Activities: Subject’s operations are performed through the following divisions:

 

·       Salman Al Johar Ferro Alloys

 

     Address:      Dammam

                        Tel: (966-3) 2655580

                        Fax: (966-3) 2655455

 

     Activities:     Engaged in the processing of ferrous and non-ferrous metals.

 

·       Salman Al Johar Steel Rolling Factory

 

     Engaged in the processing of steel bars for the construction industry.

 

·       Salman Al Johar Sponge Iron Factory

 

Engaged in the processing of sponge iron.

 

Import Countries: Europe and the Far East.

 

Subject has a workforce of approximately 250 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

 

·       Riyad Bank

King Abdul Aziz Road

PO Box: 22622

Riyadh 11416

Tel: (966-1) 4013030

 

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.45

UK Pound

1

Rs.71.59

Euro

1

Rs.63.01

 

 

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

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

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.