MIRA INFORM
REPORT
|
Report Date : |
01.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
SULAIMAN SALEH AL OTHAIM JEWELLERY FACTORY |
|
|
|
|
Registered Office : |
3rd Industrial
City, P O Box 152, Riyadh 11383 |
|
|
|
|
Country : |
Saudi Arabia |
|
|
|
|
Date of Incorporation : |
21.06.1992 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Manufacturers of jewellery |
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 |
|
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 : SULAIMAN SALEH AL OTHAIM JEWELLERY FACTORY
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 21st June 1992
Concession Number : 145406
Chamber Membership Number : 41640
Invested Capital : SR 125,000
Total Workforce : 45
Activities : Manufacturers of jewellery
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Hassan Qassim, Finance Manager
COMPANY NAME
SULAIMAN SALEH AL
OTHAIM JEWELLERY FACTORY
company ADDRESS
Registered & Physical Address
Location : 3rd Industrial City
PO Box :
152
Town : Riyadh 11383
Country : Saudi Arabia
Telephone : (966-1) 2650301 / 2650302 / 2655548
Facsimile : (966-1) 2650301
Mobile : (966-55) 7833472
Email : sales@soj.com.sa
Premises
Subject operates
from a small suite of offices and a factory that are rented and located in the
Industrial Area of Riyadh.
Branch Office (s)
Subject has showrooms located in Riyadh, Jeddah and Dammam.
KEY PRINCIPALS
Name Position
·
Sulaiman Saleh Al Othaim Proprietor
& General Manager
·
Abdulazim Ibrahim Factory
Manager
·
Amash Al Harbi Administration
Manager
·
Hassan Qassim Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 21st June
1992
Legal Form :
Sole Proprietorship
Concession No. :
145406
Chamber Member No. : 41640
Invested Capital
: SR 125,000
Mr Sulaiman Saleh Al Othaim is the sole
proprietor of the business.
AFFILIATED COMPANIES
·
Al Sulaiman Al Othaim For Industry Trade
Riyadh
CR No. 1010086649
·
Gold
Mines Co Ltd
Ghana
·
Saudi
Gold Refinery
Riyadh
OPERATIONS
Activities: Engaged in the manufacture of jewellery
items.
Import
Countries: Europe and GCC
countries.
Subject has a
workforce of 45 employees.
FINANCIAL DATA
Companies registered
in Saudi Arabia are not legally required to make their accounts public and no
financial information was released by the company or submitted by outside
sources.
BANKERS
·
National
Commercial Bank
Malaz Branch
PO Box: 42536
Tel: (966-1) 4776450
Fax: (966-1) 4769502
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.03 |
|
UK Pound |
1 |
Rs.74.43 |
|
Euro |
1 |
Rs.64.75 |
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.