MIRA INFORM REPORT

 

 

Report Date :

18.01.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

SALEH SALEM SALEH BASHRAHEEL ESTABLISHMENT

 

 

Registered Office :

Nabih Feraon Est. Building, Abu Firas Al Hamadani Street, Hay Al Rouis, P.O.Box No.8931, Jeddah 21492

 

 

Country :

Saudi Arabia

 

 

Date of Incorporation :

24.08.1994

 

 

Com. Reg. No.:

4030105585

 

 

Legal Form :

Proprietorship Concern

 

 

Line of Business :

Trading as Importers, Wholesalers and Retailers of many personal healthcare products, mainly single-use soapy sponges

 

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 :

SR 200,000

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

Saudi Arabia

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company NAME

 

Saleh Salem Saleh Bashraheel Establishment (Correct)

Saleh Salim BAshraheel Trading Est. (Requested)

 

 

company ADDRESS

 

Building             : Nabih Feraon Est. Building

Street               : Abu Firas Al Hamadani Street

Area                 : Hay Al Rouis

P.O.Box No.      : 8931

Town                 : Jeddah 21492

Country             : Saudi Arabia

Telephone         : (966 2) 664 0627 / 667 1830 / 664 7703

Fax                   : (966 2) 663 1882 / 662 2009

E-Mail               : ehab@usunic-ne.com   / info@usunic-me.com

Website            : www.usunic-me.com

 

Also known as : S.Bashraheel Est. / Saleh S. Ba-Shrahil Trading Services Est.

 

 

SENIOR COMPANY PERSONNEL

 

   Name                                                Position

 

1. Dr. Saleh Salem Saleh Bashraheel      General Manager

 

2. Gerhard Hain                                                 Operations Manager

 

3. Ehab Abdullah                                               Marketing Manager

 

Total Employees : 10

 

 

PAYMENTS

 

No complaints have been heard regarding payments from local suppliers or banks.

 

We consider it is acceptable to deal with subject for SMALL amounts.

 

Opinion on maximum credit : SR 200,000

 

Trade risk assessment : Normal

 

PRINCIPAL BANKERS

 

NAME               : SAAB BANK (FORMERLY SAUDI BRITISH BANK)

Branch              : Main Branch

P.O. Box           : 109

Town                 : Jeddah 21411

Telephone         : (966 2) 651 2121

Fax                   : (966 2) 653 4109

 

The Company also has an account with the following banks :

 

1. Banque Saudi Fransi

   Tower Building

   Al Medina Road

   PO Box 1

   Jeddah 21411

   Telephone: (966 2) 660 5863

   Fax      : (966 2) 660 4797

 

2. National Commercial Bank (Al Ahli)

   Hail Street

   Jeddah

   Telephone: (966 2) 649 3333

   Fax      : (966 2) 649 3333 Ext.4148

 

3. Saudi Hollandi Bank

   Makkah Road

   PO Box 67

   Jeddah 21411

   Telephone: (966 2) 648 1222

   Fax      : (966 2) 648 5312

 

 

FINANCIAL INFORMATION

 

Private companies in Saudi Arabia are not required to publish or disclose balance sheets. However, the subject interviewed offered

the following information :

 

Sales Turnover               : SR 10,000,000 - 2009 - exact

                                    : SR 10,500,000 - 2010 - projected

 

Net Profit            : not given but stated to be 8-12% of the sales

 

Financial year ends 31 December.

 

Full 2010 financial results are not yet available.

 

LEGAL STATUS AND HISTORY

 

Date Started                  : 24 August 1994 (16/03/1415 H)

 

C.R. No.                        : 4030105585 (expiry date: 16/01/2014 / 15/03/1435 H)

 

JCCI Membership No.     : 50759

 

Capital                          : SR 30,000

 

Proprietorship owned by Saleh Salem Saleh Bashraheel (Saudi national).

 

 

ACTIVITIES

 

The Subject is involved in the following activities :

 

Trading as importers, wholesalers and retailers of many personal healthcare products, mainly single-use soapy sponges.

 

Provision of freight forwarding and cargo services.

 

Subject is an agent for LIFE Express Service Gmbh (Germany).

 

Imports mainly from Germany, Spain, Morocco, India and Syria.

 

Exports mainly to Hong Kong, China, Syria and Egypt.

 

 

FACILITIES

 

The Subject has the following facilities :

 

Rented administrative offices and storage facilities located at the heading address as well as two branch offices located elsewhere in Jeddah (see 'Branch Offices' below).

 

BRANCH OFFICES

 

1. PO Box 8931

   Jeddah 21492

   Telephone: (966 2) 651 3306

   Fax    : (966 2) 651 3294

   Sub C.R. : 4030122934

 

2. PO Box 8931

   Jeddah 21492

   Telephone: (966 2) 664 0627

   Fax    : (966 2) 663 1882

   Sub C.R. : 4030156598

 

 

SPECIAL NOTE

 

You enquired on: Saleh Salim BAshraheel Trading Est. Please note that the correct name is as per heading.  

 

The postal code number given by you: 31493 is incorrect. Please note that the correct postal code number is as per heading.

 

The telephone and fax numbers given by you: (966 2) 664 0637 and (966 2) 663 1884 respectively are incorrect. Please note that subject’s correct telephone and fax numbers are as per heading.

 

Interviewed: Ehab Abdullah (Marketing Manager).

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.59

UK Pound

1

Rs.72.31

Euro

1

Rs.60.73

 

 

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.