MIRA INFORM
REPORT
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Report Date : |
19.01.2011 |
IDENTIFICATION DETAILS
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Name : |
TAMIMI COMPANY LTD |
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Registered Office : |
1st
Industrial Area, |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
17.06.1964 |
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Com. Reg. No.: |
2050001601,
Dammam |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of general foodstuff products |
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$ 500,000 |
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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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 : TAMIMI COMPANY LTD
Country of Origin :
Legal Form : Limited Liability Partnership
Registration Date : 17th June 1964
Commercial Registration Number : 2050001601, Dammam
Chamber Membership Number : 1386
Issued Capital : SR 2,000,000
Paid up Capital : SR 2,000,000
Total Workforce : 120
Activities : Distributors of general foodstuff products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 500,000
COMPANY NAME
TAMIMI COMPANY LTD
company ADDRESS
Registered & Physical Address
Location : 1st Industrial Area
Street :
PO Box : 172, Dammam
31801, Al Khobar
Town : Dammam 31411
Country :
Telephone : (966-3) 8951128 / 8823428
/ 8474050
Facsimile : (966-3) 8471592
Email : info@tamimigroup.com
Premises
Subject operates from
a large suite of offices and a warehouse that are rented and located in the
Industrial Area of Dammam.
KEY PRINCIPALS
Name Position
·
Tariq Ali Bin Abdullah Al Tamimi Managing
Partner
·
Telal Ali Bin Abdullah Al Tamimi Partner
·
Hesham Ali Bin Abdullah Al Tamimi Partner
·
Ahmed Al Harja Administration
Manager
LEGAL FORM & OWNERS
Date of Establishment : 17/02/1384
Hijri (corresponding to 17th June 1964)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 2050001601,
Dammam
Chamber Member No. : 1386
Issued Capital : SR 2,000,000
Paid up Capital : SR 2,000,000
Name of Partner (s)
·
Tariq Ali Bin Abdullah Al Tamimi
·
Telal Ali Bin Abdullah Al Tamimi
·
Hesham Ali Bin Abdullah Al Tamimi
AFFILIATED COMPANIES
·
Tamimi Global Co Ltd
·
Ali Al Abdullah Al Tamimi Co
·
Tamimi
Markets
·
Tamimi
Construction Co
·
Tamimi
Tape Factory
·
Thrustboring
Construction Co Ltd
·
Arabian
International Tire Retreaders
·
Tamimi
Commercial Co
OPERATIONS
Activities: Engaged in the import and distribution of
general foodstuff products. Subject also provides catering
services.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a
workforce of 120 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 41,550,000 SR 42,900,000
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
PO Box: 13
Dammam 31411
Tel: (966-3) 8331188
Fax: (966-3) 8336058
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.45.53 |
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|
1 |
Rs.72.56 |
|
Euro |
1 |
Rs.60.62 |
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.