MIRA INFORM
REPORT
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Report Date : |
11.04.2011 |
Important Note:
Please note that P O Box 118600 is subject‘s old P O Box number. It has
no connection to the subject now.
IDENTIFICATION DETAILS
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Name : |
IMAD AHMED AL ZALLEY EST |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
24.01.2010 |
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Com. Reg. No.: |
4030145399, 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 |
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
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUMMARY
Company Name : IMAD AHMED AL ZALLEY EST
Country of Origin :
Legal Form : Sole Proprietorship
Start Date : 1990
Registration Date : 24th January 2010
Commercial Registration Number : 4030145399, Jeddah
Chamber Membership Number : 95949
Invested Capital : SR 35,000
Total Workforce : 8
Activities : Wholesale and retail of textiles and fabrics
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Yousef Ali Saeed, Assistant General Manager
COMPANY
NAME
IMAD AHMED AL ZALLEY EST
company
ADDRESS
Registered & Physical
Address
Building : Abdul Ghafoor Building
Street :
Area : Bab
Shareef Area
PO Box : 104569
Town : Jeddah
21331
Country : Saudi Arabia
Telephone : (966-2) 6270308
Facsimile : (966-2) 6491306
/ 6488460
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
·
Imad Ahmed Abdulkarim Al Zalley Proprietor
& General Manager
·
Yousef
Ali Saeed Assistant
General Manager
·
Yousef Mohamed Sales
Manager
LEGAL
FORM & OWNERS
Date of Establishment : 1990, however
subject was registered on 09/02/1431 Hijri (corresponding to 24th
January 2010)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030145399, Jeddah
Chamber Member No. : 95949
Invested Capital
: SR 35,000
Mr Imad Ahmed Abdulkarim Al Zalley is the sole
proprietor of the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of textiles
and fabrics.
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 31/12/09: Year Ending
31/12/10:
Total Sales SR 8,950,000 SR 9,455,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Al
Rajhi Banking & Investment Corporation
PO Box: 4514
Jeddah
Tel: (966-2) 6724554
Fax: (966-2) 6723805
·
Saudi
British Bank
PO Box: 109
Jeddah 21411
Tel: (966-2) 6512121
Acc No. 039000997001
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.443.04 |
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1 |
Rs.72.20 |
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Euro |
1 |
Rs.63.40 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.