MIRA
INFORM REPORT
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Report Date : |
15.07.2011 |
IDENTIFICATION DETAILS
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Name : |
MOHAMED IBRAHIM AL SHAMASY TRADING EST |
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Registered Office : |
Al Ras Street Batha District PO Box 5067 Riyadh 11422 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
28.05.1997 |
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Com. Reg. No.: |
1010153816, Riyadh |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of leather 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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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Saudi Arabia |
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 : MOHAMED IBRAHIM AL SHAMASY TRADING EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 28th May 1997
Commercial Registration Number : 1010153816, Riyadh
Invested Capital : SR 1,000,000
Total Workforce : 45
Activities : Distributors of leather products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mady Al Owais, Finance Manager
COMPANY NAME
MOHAMED IBRAHIM AL SHAMASY TRADING EST
ADDRESS
Registered & Physical Address
Street : Al Ras
Street
Area : Batha
District
PO Box : 5067
Town : Riyadh 11422
Country : Saudi Arabia
Telephone : (966-1) 4010251
/ 4057323 / 4025484
Facsimile : (966-1)
4054393
Email : shamasyforbags@hotmail.com
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Riyadh.
Branch Office (s)
Location Description
· Jeddah Office
premises
Tel: (966-2)
6473116
· Dammam Office
premises
Tel: (966-3)
8340303
· Qassim Office
premises
Tel: (966-6)
3245983
· Riyadh Office
premises
· Madinah Office
premises
KEY PRINCIPALS
Name Position
· Mohamed Ibrahim Al
Shamasy Proprietor
& General Manager
· Ahmed Mohamed
Ibrahim Al Shamasy Assistant
General Manager
· Mady Al Owais Finance
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 20/01/1418 Hijri
(corresponding to 28th May 1997)
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 1010153816, Riyadh
Invested Capital : SR 1,000,000
Mr Mohamed Ibrahim Al Shamasy is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the import and distribution of leather products, including
bags, wallets, belts and laptop cases.
Import Countries: France and Italy.
International Suppliers:
· Pierre Cardin France
· Victoria Italy
· Jordano Italy
Operating Trend: Steady
Subject has a workforce of 45 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
18,200,000 SR
18,610,000
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
Batha Branch
PO Box: 34
Riyadh 11411
Tel: (966-1)
4010076 / 4025084
Fax: (966-1)
4034625
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.44.53 |
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|
1 |
Rs.71.80 |
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Euro |
1 |
Rs.63.15 |
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 |
-- |
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.