MIRA INFORM REPORT

 

 

Report Date :           

07.06.2011

 

IDENTIFICATION DETAILS

 

Name :

JAMEEL ABDULAZIZ MIRZA & CO

 

 

Registered Office :

Mirza Centre, Palestine Street, P O Box 4060, Jeddah 21491

 

 

Country :

Saudi Arabia

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

28.09.1987

 

 

Com. Reg. No.:

4030058552, Jeddah

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Wholesalers and retailers of stationery, office equipment, computers forms and educational materials

 

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                                     : JAMEEL ABDULAZIZ MIRZA & CO

Also Known As                                      : MIRZA LIBRARY

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Limited Liability Partnership

Registration Date                                   : 28th September 1987

Commercial Registration Number            : 4030058552, Jeddah

Chamber Membership Number                : 1193

Issued Capital                                        : SR 39,500,000

Paid up Capital                                      : SR 39,500,000

Total Workforce                                     : 50

Activities                                               : Wholesalers and retailers of stationery, office equipment, computers

forms and educational materials.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Person Interviewed                                 : Essam Terrsan, Commercial Manager

 

COMPANY NAME

 

JAMEEL ABDULAZIZ MIRZA & CO

 

 

ALSO KNOWN AS

 

MIRZA LIBRARY

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Mirza Centre

Street               : Palestine Street

PO Box             : 4060

Town                 : Jeddah 21491

Country             : Saudi Arabia

Telephone         : (966-2) 6726020

Facsimile          : (966-2) 6722053 / 6713541

Email                : mirzalibrary@zajil.net

 

Premises

Subject operates from a medium sized suite of offices that are owned and located in the Central Business Area of Jeddah.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       Al Faisaliah District                                                                           Office premises

Jeddah

Tel: (966-2) 6631040

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Jameel Abdulaziz Abdulllah Mirza                                                       Managing Partner

 

·       Abdul Hai Abdulaziz Abdulllah Mirza                                                   Partner

 

·       Abdul Majeed Abdulaziz Abdulllah Mirza                                             Partner

 

·       Nabeel Ahmed Mirza                                                                         General Manager

 

·       Essam Terrsan                                                                                 Commercial Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 05/02/1408 Hijri (corresponding to 28th September 1987)

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 4030058552, Jeddah

 

Chamber Member No. : 1193

 

Issued Capital              : SR 39,500,000

 

Paid up Capital            : SR 39,500,000

 

Name of Partner (s)

 

·       Jameel Abdulaziz Abdulllah Mirza

 

·       Abdul Hai Abdulaziz Abdulllah Mirza

 

·       Abdul Majeed Abdulaziz Abdulllah Mirza

 

·       Heirs of the late Abdul Wahab Abdulaziz Mirza

 

 

OPERATIONS

 

Activities: Engaged in the wholesale and retail of stationery, office equipment, computers forms and educational

                 materials.

 

Import Countries: Europe and the Far East.

 

Operating Trend: Steady

 

Subject has a workforce of 50 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 22,925,000                           SR 24,000,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Arab National Bank

Madinah Road

PO Box: 9463

Jeddah 21413

Tel: (966-2) 6600272

Fax: (966-2) 6650202

 

 

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.73.46

Euro

1

Rs.65.47

 

 

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.