MIRA INFORM REPORT

 

 

Report Date :           

25.07.2011

 

IDENTIFICATION DETAILS

 

Name :

MOHAMED SAEED ALI MOHAMED EST

 

 

Registered Office :

Mohammed Saeed Ali Mohammed Building, 1st Floor, Bab Sherif Area, behind to Al Balad Police Station , P.O.Box No 22448, Jeddah 21495

 

 

Country :

Saudi Arabia

 

 

Date of Incorporation :

12.04.1982

 

 

Com. Reg. No.:

4030034089

 

 

Legal Form :

Proprietorship Concern

 

 

Line of Business :

importers and wholesalers of readymade garments

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Poor

 

 

Payment Behaviour :

Unknown

 

 

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

 

company NAME

 

Mohamed Saeed Ali Mohamed Est (Correct)

MOHAMED SAEED ALI MOHAMED (Requested)

 

 

Company ADDRESS

 

Building             : Mohammed Saeed Ali Mohammed Building, 1st Floor

Area                 : Bab Sherif Area, behind to Al Balad Police Station

P.O.Box No.      : 22448

Town                 : Jeddah 21495

Country             : Saudi Arabia

Telephone         : (966 2) 647 6737

Fax                   : (966 2) 647 6432

 

 

SENIOR COMPANY PERSONNEL

 

   Name                                                            Position

 

1. Mohammed Saeed Ali Mohammed                  General Manager / Owner

 

2. Waleed Mohammed Saeed A. Mohammed       Deputy General Manager

   (son of the above)

 

3. Ahmed Khalil                                                 Commercial Manager

 

4. Mr Mahmoud                                                             Sales Assistant

 

Total Employees : 5 (administrative)

 

 

PAYMENTS

 

Current trade experience of payments has not been traced.

 

Subject declined to give any financial, general background or antecedent information or to reveal the extent of the company's

operations.

 

Opinion on maximum credit : We have insufficient basis on which to

                            speak for unsecured credit and recommend

                            international suppliers deal cash or

                            pre-paid basis only.

Trade risk assessment: High

 

 

PRINCIPAL BANKERS

 

NAME     : NATIONAL COMMERCIAL BANK

Branch   : Main Branch

P.O. Box : 3555

Town     : Jeddah 21481

Telephone: (966 2) 644 6644

Fax      : (966 2) 643 3282

 

Acc. No. : 12116110040108

 

 

FINANCIAL INFORMATION

 

Private companies in Saudi Arabia are not required to publish or disclose balance sheets. Balance sheets are not available from other sources, and the subject interviewed declined to give any financial information, which the company regards as strictly confidential.

 

 

LEGAL STATUS AND HISTORY

 

Date Started : 12 April 1982 (17/06/1402 H)

 

C.R. No. : 4030034089 (expiry date: 10/03/2016 / 30/05/1437 H)

 

Capital : not applicable

 

JCCI Membership No.: 13493

 

Proprietorship owned by Mohammed Said Ali Mohammed (Saudi national).

 

Affiliated companies of Mohamed Saeed Ali Mohamed Est :

 

Associates

 

1. Tariq Centre

   Bab Sharef beside Balad police

   PO Box 22448

   Jeddah 21495

   Telephone: (966 2) 647 6737

   Fax      : (966 2) 647 7930

 

2. Infrastructure For General Contracting Est (Tariq Mohammed Said

   Mohammed)

   Jeddah

   Telephone: (966 2) 648 0677 / 652 0300

   C.R. No. : 4030089606

   Owner : Tariq Mohamed Saeed Ali Mohamed 

 

3. Mohammed Said Ali Est

   Souq Murshid

   Dubai

   UAE

   Telephone: (971 4) 225 4848

   Fax      : (971 4) 225 4498

   C.R. No. : 34089

 

 

ACTIVITIES

 

The Subject is involved in the following activities :

 

Trading as importers and wholesalers of readymade garments.

 

NACE Code : 4642

 

Imports from Europe, China and the Far East.

 

Subject only sells locally and does not engage in re-export business.

 

 

FACILITIES

 

The Subject has the following facilities :

 

Administrative office premises and a wholesale outlet with integrated

storage facilities at the heading address.

 

 

SPECIAL NOTE

 

You enquired on: MOHAMED SAEED ALI MOHAMED. Please note that the correct name is as per heading.  

 

The telephone number given by you: (966 2) 647 3765 is incorrect. Please note that subject’s correct telephone number is as per heading.

 

Interviewed: Mr Mahmoud (Sales Assistant). Subject's senior official (Deputy General Manager) is currently away on a prolonged holiday, in his absence staff is not authorized to divulge financial information.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.38

UK Pound

1

Rs.72.34

Euro

1

Rs.63.87

 

 

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.