MIRA INFORM REPORT
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Report Date : |
19.04.2011 |
IDENTIFICATION DETAILS
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Name : |
AL KADI COMMERCE & INDUSTRY |
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Formerly Known As : |
MUHAMMED & EBRAHIM S. AL-KADI CO. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
1942 |
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Com. Reg. No.: |
2050024350 |
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Legal Form : |
Proprietorship |
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Line of Business : |
Importers,
wholesalers and retailers of car and truck spare parts, parts and accessories
for cement bulkers, hydraulic tippers and cargo moving parts. |
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 : |
SR 3,000,000 |
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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 |
Company name
Al Kadi Commerce
& Industry
ADDRESS
Building : Al
Street :
Area : Khaldiya
Industrial Area
P.O. Box : 201
Town : Dammam
31411
Country :
Telephone: (966 3) 859 1444 / 857 6359 / 857 5531
Fax : (966 3)
859 0714
E-Mail :
baghdadi@al-kadi.com / parts@al-kadi.com
Trading Styles : Al Kadi C&I
Formerly Known As : Muhammed & Ebrahim S. Al-Kadi Co.
/ Al Kadi Commercial Industries / Al Kadi Est.
Also Known As : Al-Kadi Commerce & Industry (Ahmed
Mohammed Suleiman Al Kadi)
SENIOR
COMPANY PERSONNEL
Name Position
1. Ahmed Mohammed Al Suleiman Al Kadi President
2. Yusef Ahmed Mohammed Al Suleiman Al Kadi Vice
President / Finance
(son of the
above)
3. Fawzi Ahmed Mohammed Al Suleiman Al Kadi Vice
Chairman
(brother of the
above)
4. Faisal Ahmed Mohammed Al Suleiman Al Kadi General Manager
(brother of the
above)
5. Mohammed Baghdadi Accounts
Manager
7. Mubarak A. Sulaiman Sales Manager
Total Employees : 400
PAYMENTS
No complaints have been heard regarding payments from
local suppliers
or banks.
Subject is a well established business operating since
1942.
We consider it is acceptable to deal with subject for
LARGE amounts.
Opinion on maximum credit : SR 3,000,000
Trade risk assessment :
PRINCIPAL
BANKERS
NAME : NATIONAL
COMMERCIAL BANK (AL AHLI)
Branch : Main
Branch
P.O. Box : 13
Town : Dammam
31432
Telephone: (966 3) 644 6644
Fax : (966 3)
834 6953
The company also has an account with the following banks
:
1. Banque Saudi Fransi
Dammam
31461
Telephone: (966
3) 361 2400 / 834 3182
Fax : (966 3) 834 3179
2. SABB (fmly Saudi British Bank)
Dammam 31441
Telephone: (966
3) 833 1553
Fax : (966 3) 832 1916
3. Samba Financial Group (fmly Saudi American Bank)
Dammam
Telephone: (966
3) 832 1999
Fax : (966 3) 832 9555
4. Al Rajhi Bank
Bareed District
Dammam 31423
Telephone: (966
3) 834 3891
Fax : (966 3) 833 6253
5. Bank Aljazira
Main Branch
Dammam
6. Riyad Bank
Dammam 31411
Telephone: (966
3) 834 5743 / 833 5733
Fax : (966 3) 832 3210
FINANCIAL
INFORMATION
Private companies in
disclose balance sheets. However, the subject interviewed
offered
the following information :
Sales Turnover : SR 100,000,000 - 2004 - exact
: SR 107,000,000 - 2005 - exact
: SR 120,000,000 - 2006 - exact
: SR 150,000,000 - 2007 - exact
: SR 175,000,000 - 2008 – exact
: SR 250,000,000 – 2009 – exact
: SR 400,000,000 – 2010 - exact
Net Profit
: not given but stated to be profitable
Total Capital Investment : SR 15,000,000 - approx
Financial year ends 31 December.
LEGAL
STATUS AND HISTORY
Date Started : 1942
History : Subject was established in
General
Partnership (C.R. No.: 2050002075) under the name
Muhammed
& Ebrahim S. Al-Kadi Co. with the following
partners
: Muhammed Suleiman Al Kadi and Ebrahim Suleiman
Al Kadi.
On 16 November 1992 subject was converted into a
Proprietorship Business under the name Al Kadi Est. with
the
present ownership. In January 2005 subject merged with
its
affiliated company, Al Kadi Commercial Industries (est.
2003) and
at the same time subject's name changed to the
present.
C.R. No. : 2050024350 (issued on 16 November 1992 /
21/05/1413), expiry date 12 April 2012 / 20/05/1433 H), previously 2050002075)
Capital : SR 5,000,000
Proprietorship owned by Ahmed Mohammed Al Suleiman Al
Kadi (Saudi
national)
Affiliated companies of Al Kadi Commerce & Industry :
Associates
1. Al Kadi Truck Body Factory
Dammam 31423
Telephone: (966
3) 857 6358 / 857 6359
Fax : (966 3) 857 7147
2. Al Kadi Tents Factory
Near
Dammam 31423
Telephone: (966
3) 857 3595 / 857 8163
Fax : (966 3) 857 6152
3. Al
Dammam 31423
Telephone: (966
3) 857 6358 / 857 6359
Fax : (966 3) 857 7147
4. Al Kadi Real Estate & Investment Co.
Dammam 31411
Telephone: (966
3) 857 6358 / 857 6359
Fax : (966 3) 857 7147
ACTIVITIES
The Company is involved in the following activities :
Importers, wholesalers and retailers of car and truck
spare parts,
parts and accessories for cement bulkers, hydraulic
tippers and cargo
moving parts.
Manufacturers and distributors of furniture.
Manufacturing is undertaken by the following division :
Al Kadi Furniture
(Furniture retailers)
Subject is an authorized distributors for Mercedes- Benz
parts.
Nace Code : 4532 / 3101
Imports from Europe,
Exports to
Principal agents held : Mannessman Demag (
Fahrzeugbau GMBH & Co (
and Al Kadi (
FACILITIES
The Company has the following facilities :
Owned premises comprising administrative offices and a
showroom with
integrated storage facilities located at the heading
address as well
as 3 branch offices located elsewhere in
Offices section).
BRANCH
OFFICES
1. Dammam
Khodariya
Industrial Area
Dammam
Telephone: (966
3) 822 1171 / 822 1456
Fax : (966 3) 820 5432
2.
Telephone: (966 1)
241 3885 / 241 3214
Fax : (966 1) 241 3528
3. Jeddah
Al Jowhara
Industrial Area
Telephone: (966
2) 620 7888 / 566 6594
Fax : (966 2) 620 7888
SPECIAL
NOTE
The PO Box number which you provided : 701,
Interviewed : Mohammed Baghdadi (Accounts Manager).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.27 |
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|
1 |
Rs.72.08 |
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Euro |
1 |
Rs.63.66 |
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 |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.