MIRA INFORM REPORT

 

 

Report Date :

18.08.2011

 

IDENTIFICATION DETAILS

 

Name :

ABDUL WAHAB MIRZA LIBRARY CO LTD

 

 

Registered Office :

Main Street Al Aziziah Area PO Box 1159 Mecca

 

 

Country :

Saudi Arabia

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1960

 

 

Com. Reg. No.:

4031000110, Mecca

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Wholesale and retail of stationery, books and educational materials.

 

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$ 500,000

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 – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

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                                     : ABDUL WAHAB MIRZA LIBRARY CO LTD

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Limited Liability Partnership

Start Date                                             : 1960

Registration Date                                   : 16th September 1967

Commercial Registration Number            : 4031000110, Mecca

Membership Number                              : 326

Issued Capital                                        : SR 2,500,000

Paid up Capital                                      : SR 2,500,000

Total Workforce                                     : 80

Activities                                               : Wholesale and retail of stationery, books and educational materials.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 500,000

Person Interviewed                                 : Ibrahim Abu Al Majed, Finance Manager

 

COMPANY NAME

 

ABDUL WAHAB MIRZA LIBRARY CO LTD

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : Main Street

Area                 : Al Aziziah Area

 

PO Box             : 1159

 

Town                 : Mecca

Country             : Saudi Arabia

 

Telephone         : (966-2) 5563339 / 5563669 / 5583401 / 5581037

Facsimile          : (966-2) 5585479

Email                : awmirza@mirza.com.sa

 

Premises

 

Subject operates from a medium sized suite of offices and a showroom that are owned and located in the Central Business Area of Mecca.

 

Branch Office (s)

 

     Location                                                                                           Description

 

·       King Khalid Road                                                                              Showroom premises

Mecca

     Tel : (966-2) 5562286

 

·       Shobra Street                                                                                   Showroom premises

Taif

     Tel: (966-2) 7329675

     Fax: (966-2) 7323478

 

·       Prince Majid Street                                                                            Showroom premises

Jeddah

Tel: (966-2) 6701958 / 6727935

Fax: (966-2) 6702134

 

·       Jeddah – Mecca Highway                                                                  Warehouse premises

Jeddah

Tel: (966-2) 5317329 / 5317330

Fax: (966-2) 5317338

 

·       Awali                                                                                                Warehouse premises

Mecca

Tel: (966-2) 5281512

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Talal Abdul Wahab Mirza                                                                   Managing Partner

 

·       Adel Abdul Wahab Mirza                                                                   Partner

 

·       Ahmed Al Amry                                                                                General Manager

 

·       Yousef Al Falah                                                                                Commercial Manager

 

·       Ibrahim Abu Al Majed                                                                        Finance Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1960, however subject was registered on 16th September 1967

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 4031000110, Mecca

 

Membership No.          : 326

 

Issued Capital              : SR 2,500,000

 

Paid up Capital            : SR 2,500,000

 

Name of Partner (s)

 

·       Talal Abdul Wahab Mirza

 

·       Adel Abdul Wahab Mirza

 

·       Members of the Mirza family

 

 

OPERATIONS

 

Activities: Engaged in the wholesale and retail of stationery, books and educational materials.

 

                 Subject has over 10,000 different items in its range of stock.

 

Import Countries: Europe, Taiwan and Hong Kong.

 

International Suppliers:

 

·       Lion Pencil Co                                  Taiwan

·       Novus GmbH & Co. Kg                      Germany

·       Standard Office Products                   Hong Kong

 

Brand Names: SIMBALION, SIMBA, FOLIA, GOLDEN HORSE, TIKO, YOKA, FUDA, GRAFFITI and GENVANA

 

Operating Trend: Steady

 

Subject has a workforce of 80 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 58,800,000                           SR 65,000,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above figures were provided by Mr Ibrahim Abu Al Majed, Finance Manager

 

 

BANKERS

 

·       National Commercial Bank

Masfalah Branch

     Mecca

     Tel: (966-2) 5367051

     Fax: (966-2) 5345457

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Established in 1960, subject is involved in the wholesale and retail of stationery, books and educational materials.

 

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 company is considered to be a fair trade risk.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.37

UK Pound

1

Rs.74.56

Euro

1

Rs.65.33

 

 

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

--

NB

                                       New Business

 

--

 

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.