MIRA INFORM REPORT
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Report Date : |
29.12.2011 |
IDENTIFICATION DETAILS
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Name : |
ZAHRA KHABARI ESTABLISHMENT FOR TRADING |
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Registered Office : |
24th Street, Industrial Area, P O Box 255, Riyadh 11353 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
07.05.1978 |
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Com. Reg. No.: |
1010016122, Riyadh |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesalers and retailers of textiles and readymade garments |
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No. of Employees
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7 |
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$ 150,000 |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Saudi Arabia
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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 |
SUMMARY
Company Name : ZAHRA KHABARI ESTABLISHMENT FOR TRADING
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 7th May 1978
Commercial Registration Number : 1010016122, Riyadh
Chamber Membership Number : 10180
Invested Capital : SR 100,000
Total Workforce : 7
Activities : Wholesalers and retailers of textiles and readymade garments
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Abdul Ghafaar Abdulaziz Al Dayel, Proprietor & General Manager
COMPANY NAME
ZAHRA KHABARI ESTABLISHMENT FOR TRADING
company ADDRESS
Registered &
Physical Address
Street : 24th Street
Area : Industrial Area
PO Box : 255
Town : Riyadh 11353
Country : Saudi Arabia
Telephone : (966-1) 4472691
Facsimile : (966-1) 4472751
Mobile : (966-50) 5288671
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Industrial Area of Riyadh.
KEY PRINCIPALS
Name Position
·
Abdul Ghafaar Abdulaziz Al Dayel Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 30/05/1398
Hijri (corresponding to 7th May 1978)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1010016122,
Riyadh
Chamber Member No. : 10180
Invested Capital
: SR 100,000
Mr Abdul Ghafaar
Abdulaziz Al Dayel is the sole
proprietor of the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of
textiles and readymade garments.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 7 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 12,400,000 SR 12,625,000
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
Airport Road
PO Box: 2800
Tel: (966-1) 4772281
Fax: (966-1) 4730322
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.21 |
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UK Pound |
1 |
Rs.83.32 |
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Euro |
1 |
Rs.69.51 |
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.