MIRA INFORM
REPORT
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Report Date : |
19.04.2011 |
IDENTIFICATION DETAILS
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Name : |
SAMEER QUTUB AL DIN SULTAN EST |
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Registered Office : |
Al Nojoom
Roundabout, Al Mahjer Street, Petromin District, P O Box 16457, Jeddah 21464 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
25.10.2001 |
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Com. Reg. No.: |
4030135784, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and retail of general foodstuffs |
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$ 125,000 |
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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
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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Saudi Arabia |
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 : SAMEER QUTUB AL DIN SULTAN EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 25th October 2001
Commercial Registration Number : 4030135784, Jeddah
Chamber Membership Number : 81365
Invested Capital : SR 60,000
Total Workforce : 6
Activities : Wholesale and retail of general foodstuffs
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 125,000
COMPANY
NAME
SAMEER QUTUB AL DIN
SULTAN EST
company
ADDRESS
Registered & Physical
Address
Location : Al Nojoom Roundabout
Street : Al Mahjer Street
Area : Petromin District
PO Box : 16457
Town : Jeddah 21464
Country : Saudi Arabia
Telephone : (966-2) 6356735 / 6361905
Facsimile : (966-2) 6356735
Mobile : (966-50) 4649127
Email : rafiqqadir@yahoo.com / sona_sqs@hotmail.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
·
Sameer
Qutub Al Din Ismail Sultan Proprietor
& General Manager
·
Rafiq
Abdul Qadir Assistant
General Manager
·
Belal
Ahmed Sales
Manager
LEGAL
FORM & OWNERS
Date of Establishment : 08/08/1422
Hijri (corresponding to 25th October 2001)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030135784,
Jeddah
Chamber Member No. : 81365
Invested Capital
: SR 60,000
Mr Sameer Qutub Al Din
Ismail Sultan is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of
general foodstuffs, specialising in herbs and spices.
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 31/12/09: Year Ending
31/12/10:
Total Sales SR 7,300,000 SR 7,925,000
Local sources consider
subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.27 |
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|
1 |
Rs.7208 |
|
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 |
|
<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.