MIRA INFORM REPORT
|
Report Date : |
01.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
AL GHANDOURA FACTORY FOR ADHESIVE TAPE |
|
|
|
|
Registered Office : |
Chamber of
Commerce Warehouse, Phase No. 1, Al Khomra Area, P O Box 32159 (subject has
no knowledge of PO Box number 19828), Jeddah 21428 |
|
|
|
|
Country : |
Saudi Arabia |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
14.12.1996 |
|
|
|
|
Com. Reg. No.: |
4030120595, Jeddah |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Manufacturers of coloured, printed and transparent adhesives tapes |
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$ 150,000 |
|
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 |
Bottom of Form
SUMMARY
Company Name : AL GHANDOURA FACTORY FOR ADHESIVE TAPE
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 14th December 1996
Commercial Registration Number : 4030120595, Jeddah
Chamber Membership Number : 62110
Invested Capital : SR 2,000,000
Total Workforce : 25
Activities : Manufacturers of coloured, printed and transparent adhesives tapes.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Walid Ahmed Abdullah, Assistant General Manager
COMPANY NAME
AL GHANDOURA
FACTORY FOR ADHESIVE TAPE
company ADDRESS
Registered & Physical Address
Building : Chamber of Commerce Warehouse,
Phase No. 1
Area : Al Khomra Area
PO Box : 32159 (subject has no knowledge
of PO Box number 19828)
Town : Jeddah 21428
Country : Saudi Arabia
Telephone : (966-2) 2891592
Facsimile : (966-2) 6375072
Email : ghandouratape@hotmail.com
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Suburban Business Area of Jeddah.
KEY PRINCIPALS
Name Position
·
Mostafa
Hassan Ghandoura Proprietor
& General Manager
·
Walid
Ahmed Abdullah Assistant
General Manager
·
Ahmed
Zayed Finance
Manager
·
Mahdi
Abbas Technical
Manager
LEGAL FORM & OWNERS
Date of Establishment : 04/08/1417
Hijri (corresponding to 14th December 1996)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030120595,
Jeddah
Chamber Member No. : 62110
Invested Capital
: SR 2,000,000
Mr Mostafa Hassan Ghandoura
is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the manufacture of coloured,
printed and transparent adhesives tapes.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 25 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 8,270,000 SR 9,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Walid Ahmed Abdullah, Assistant General Manager
BANKERS
·
Riyad
Bank
Marani Building
Tahlia Street
PO Box: 19828
Jeddah 21445
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.44.72 |
|
UK Pound |
1 |
Rs.71.96 |
|
Euro |
1 |
Rs.64.79 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.