MIRA INFORM
REPORT
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Report Date : |
21.04.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
ALAYAN MOHAMED AL SAABI AL HARABI FOR
CONTRACTING |
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Registered Office : |
Iskan Street, P O
Box 31879, Jeddah |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
25.11.1992 |
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Com. Reg. No.: |
4030091608, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesalers and retailers of carpets, mats, PVC and wooden flooring |
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$ 200,000 |
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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 : ALAYAN MOHAMED AL SAABI AL HARABI FOR CONTRACTING
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 25th November 1992
Commercial Registration Number : 4030091608, Jeddah
Chamber Membership Number : 42860
Invested Capital : SR 150,000
Total Workforce : 15
Activities : Wholesalers and retailers of carpets, mats, PVC and wooden flooring.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
Person Interviewed : Abdul Hazeer Abdul Hamid, Finance Manager
COMPANY NAME
ALAYAN MOHAMED AL SAABI AL HARABI FOR
CONTRACTING
company ADDRESS
Registered & Physical
Address
Location : Iskan Street
PO Box : 31879
Town : Jeddah
Country : Saudi Arabia
Telephone : (966-2) 6342319
Facsimile : (966-2) 6341962
Mobile : (966-50) 6640999
Email : al_saady@hotmail.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Jeddah.
Branch Office (s)
Location Description
·
Haraj
El Sawarikh Showroom
premises
PO Box: 33247 & 2900
Bashmakh Market
Jeddah 21448
·
Al
Khomra Area Showroom
premises
Jeddah
Tel: (966-2) 2904644
·
Old
Industrial Area Showroom
premises
Al Faisaliah District
Riyadh
Tel: (966-1) 2447145
KEY PRINCIPALS
Name Position
·
Alayan
Mohamed Al Saadi Al Harabi Proprietor
& General Manager
·
Mohamed
Akbar Abdullah Assistant
General Manager
·
Abdul
Hazeer Abdul Hamid Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 30/05/1413
Hijri (corresponding to 25th November 1992)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030091608,
Jeddah
Chamber Member No. : 42860
Invested Capital
: SR 150,000
Mr Alayan Mohamed
Al Saadi Al Harabi is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of
carpets, mats, PVC and wooden flooring.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 15 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 16,110,000 SR 16,400,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Arab
National Bank
Madinah Road
PO Box: 9463
Jeddah 21413
Tel: (966-2) 6600272
Fax: (966-2) 6650202
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.44.38 |
|
|
1 |
Rs.72.56 |
|
Euro |
1 |
Rs.63.92 |
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.