MIRA INFORM REPORT

 

 

Report Date :           

29.08.2011

 

IDENTIFICATION DETAILS

 

Name :

AHMED DAWOOD ALWANI CO

 

 

Registered Office :

Al Dawood Building, Al Dhahab Street, Al Balad District, P O Box 19471, Jeddah 21435

 

 

Country :

Saudi Arabia

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

21.02.2006

 

 

Com. Reg. No.:

4030160672, Jeddah

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Wholesale and retail of perfumes and textile products

 

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$ 125,000

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                                     : AHMED DAWOOD ALWANI CO

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Limited Liability Partnership

Registration Date                                   : 21st February 2006

Commercial Registration Number            : 4030160672, Jeddah

Chamber Membership Number                : 109371

Issued Capital                                        : SR 500,000

Paid up Capital                                      : SR 500,000

Total Workforce                                     : 20

Activities                                               : Wholesale and retail of perfumes and textile products.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 125,000

 

COMPANY NAME

 

AHMED DAWOOD ALWANI CO

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Al Dawood Building

Street               : Al Dhahab Street

Area                 : Al Balad District

PO Box             : 19471

Town                 : Jeddah 21435

Country             : Saudi Arabia

Telephone         : (966-2) 6420907 / 6433653 / 6449999

Facsimile          : (966-2) 6440021

Mobile               : (966-55) 5666055

Email                : alwani@cyberia.net.sa / alwaniperfumes@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.

 

Branch Office (s)

     Location                                                                                          Description

 

·       Souq Makailah                                                                                  Showroom premises

Riyadh

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Sheikh Dawood Ahmed Alwani                                                           Managing Partner

 

·       Ahmed Dawood Ahmed Alwani                                                           Partner

 

·       Dawood Bin Ahmed Alwani                                                                Partner

 

·       Mosataf Hoziullah                                                                              Commercial Manager

 

·       Salim Ahmed                                                                                    Sales Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 22/01/1427 Hijri (corresponding to 21st February 2006)

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 4030160672, Jeddah

 

Chamber Member No. : 109371

 

Issued Capital              : SR 500,000

 

Paid up Capital            : SR 500,000

 

Name of Partner (s)

 

·       Sheikh Dawood Ahmed Alwani

 

·       Ahmed Dawood Ahmed Alwani

 

·       Dawood Bin Ahmed Alwani

 

 

OPERATIONS

 

Activities: Engaged in the wholesale and retail of perfumes and textile products.

 

Import Countries: Europe and GCC countries

 

Operating Trend: Steady

 

Subject has a workforce of 20 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 9,750,000                            SR 10,600,000

 

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

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Al Bank Al Saudi Al Fransi

Al Sharafiya Branch

Madinah Road

PO Box: 7888

Jeddah 21472

Tel: (966-2) 6605863

 

 

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 company is considered to be a fair trade risk.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.46.05

UK Pound

1

Rs.75.19

Euro

1

Rs.66.47

 

 

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

 

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.