MIRA INFORM REPORT

 

 

Report Date :           

27.06.2011

 

IDENTIFICATION DETAILS

 

Name :

MOHAMED QARYAN AL QAHTANI AND PARTNERS GROUP FOR  TRADING INDUSTRY & CONTRACTING

 

 

Registered Office :

Dammam Khobar Highway, Plot No. 71, P O Box 3703, Dammam 31481

 

 

Country :

Saudi Arabia

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

14.05.2000

 

 

Com. Reg. No.:

2050036333, Dammam

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Processing and export of scrap metal

 

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

 

SUMMARY

 

Company Name                                     : MOHAMED QARYAN AL QAHTANI AND PARTNERS GROUP FOR

                                                              TRADING INDUSTRY & CONTRACTING

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Limited Liability Partnership

Registration Date                                   : 14th May 2000

Commercial Registration Number            : 2050036333, Dammam

Chamber Membership Number                : 23703

Issued Capital                                        : SR 1,500,000

Paid up Capital                                      : SR 1,500,000

Total Workforce                                     : 550

Activities                                               : Processing and export of scrap metal

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 150,000

 

 

COMPANY NAME

 

MOHAMED QARYAN AL QAHTANI AND PARTNERS GROUP FOR TRADING INDUSTRY &      CONTRACTING

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Dammam Khobar Highway, Plot No. 71

PO Box             : 3703

Town                 : Dammam 31481

Country             : Saudi Arabia

Telephone         : (966-3) 8226969

Facsimile          : (966-3) 8223939

Mobile               : (966-50) 3500068 / 3534000

Email                : info@alqaryan.com / alhabshi@alqaryan.com

 

Premises

Subject operates from a large suite of offices and a warehouse that are rented and located in the Industrial Area of Dammam.

 

Branch Offices

Subject has 10 branch offices located throughout Saudi Arabia.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Mohamed Qaryan Fahid Al Qahtani                                                    Managing Partner

 

·       Hamoud Qaryan Al Qahtani                                                                Partner

 

·       Fahid Qaryan Al Qahtani                                                                    Partner

 

·       Faraj Abdul Hadi Al Qahtani                                                               Partner

 

·       Mohamed Al Darwish                                                             Human Resources Manager

 

·       Saleh Al Mutairi                                                                                Operations Manager

 

·       Afroz Ahmed                                                                         Finance Manager

 

·       Javid Ahmed                                                                         Commercial Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 11/02/1421 Hijri (corresponding to 14th May 2000)

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 2050036333, Dammam

 

Chamber Member No. : 23703

 

Issued Capital              : SR 1,500,000

 

Paid up Capital            : SR 1,500,000

 

Name of Partner (s)

 

·       Mohamed Qaryan Fahid Al Qahtani

 

·       Hamoud Qaryan Al Qahtani

 

·       Fahid Qaryan Al Qahtani

 

·       Faraj Abdul Hadi Al Qahtani

 

 

OPERATIONS

 

Activities: Engaged in the processing and export of scrap metal (both ferrous and non ferrous), including cable

     recycling and metal recycling.

 

     Subject is also engaged in the wholesale and retail of machinery, hardware, tools and batteries.

 

Import Countries: Europe and GCC countries

 

Operating Trend: Steady

 

Subject has a workforce of approximately 550 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 14,750,000                           SR 16,000,000

 

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

 

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

 

 

BANKERS

 

·       National Commercial Bank

PO Box: 13

Dammam 31411

Tel: (966-3) 8331188

       Fax: (966-3) 8336058

 

·       Saudi British Bank

PO Box: 1618

Dammam 31411

Tel: (966-3) 8331553

 

 

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.44.94

UK Pound

1

Rs.71.89

Euro

1

Rs.64.09

 

 

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.