MIRA INFORM
REPORT
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Report Date : |
30.06.2011 |
IDENTIFICATION DETAILS
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Name : |
MUSLEH TRADING CO |
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Registered Office : |
Balad Plaza A
Wing, 8th Floor, King Abdulaziz Street, P O Box 2331, Jeddah 21451 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
18.03.1996 |
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Com. Reg. No.: |
4030117843, Jeddah |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Wholesale and retail of readymade garments and textiles |
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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Maximum Credit Limit : |
US$ 175,000 |
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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 |
Bottom of Form
SUMMARY
Company Name : MUSLEH TRADING CO
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 18th March 1996
Commercial Registration Number : 4030117843, Jeddah
Chamber Membership Number : 59200
Issued Capital : SR 250,000
Paid up Capital : SR 250,000
Total Workforce : 15
Activities : Wholesale and retail of readymade garments and textiles
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 175,000
COMPANY NAME
MUSLEH TRADING CO
company ADDRESS
Registered & Physical Address
Location : Balad Plaza A Wing, 8th
Floor
Street : King Abdulaziz Street
PO Box : 2331
Town : Jeddah 21451
Country : Saudi Arabia
Telephone : (966-2) 6483777 / 6426439
Facsimile : (966-2) 6476535 / 6447257
Email : muslehsulaiman@yahoo.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Jeddah.
KEY PRINCIPALS
Name Position
·
Sulaiman
Mohamed Aziz Khan Managing
Partner
·
Abdul
Qader Mohamed Wali Khan Partner
·
Musleh
Sulaiman Mohamed Aziz Khan Partner
LEGAL FORM & OWNERS
Date of Establishment : 28/10/1416
Hijri (corresponding to 18th March 1996)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 4030117843,
Jeddah
Chamber Member No. : 59200
Issued Capital : SR 250,000
Paid up Capital : SR 250,000
Name of Partner (s)
·
Sulaiman
Mohamed Aziz Khan
·
Abdul
Qader Mohamed Wali Khan
·
Musleh Sulaiman
Mohamed Aziz Khan
OPERATIONS
Activities: Engaged in the wholesale and retail of
readymade garments and textiles.
Import
Countries: India and China
Operating Trend: Steady
Subject has a
workforce of 15 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 11,500,000 SR 12,150,000
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
Al Balad Branch
King Abdulaziz Street
PO Box: 5066
Jeddah 21422
Tel: (966-2) 6434777
Fax: (966-2) 6441686
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.94 |
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UK Pound |
1 |
Rs.71.91 |
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Euro |
1 |
Rs.64.60 |
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 |
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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.