MIRA INFORM
REPORT
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Report Date : |
25.03.2011 |
IDENTIFICATION DETAILS
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Name : |
AL MAMOUN EXHIBITION |
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Registered Office : |
Bab Shareef
Commercial Centre, 1st Floor, Office No.108 / 110, Bab Shareef, P
O Box 18134, Jeddah 21415 |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
18.04.2009 |
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Com. Reg. No.: |
4030188838, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesalers and retailers of ready made garments and textiles for men |
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$ 300,000 |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 |
SUMMARY
Company Name : AL MAMOUN EXHIBITION
Country of Origin :
Legal Form : Sole Proprietorship
Start Date : 1974
Registration Date : 18th April 2009
Commercial Registration Number : 4030188838, Jeddah
Chamber Membership Number : 136716
Invested Capital : SR 500,000
Total Workforce : 24
Activities : Wholesalers and retailers of ready made garments and textiles for men.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 300,000
COMPANY NAME
AL MAMOUN EXHIBITION
company ADDRESS
Registered & Physical Address
Building : Bab Shareef Commercial Centre, 1st
Floor, Office No.108 / 110
Area : Bab Shareef
PO Box :
18134
Town : Jeddah 21415
Country :
Telephone : (966-2) 6447830 / 6444937
Facsimile : (966-2) 6452443
Email : mamoun@icc.ne.sa / almamoun1001@gmail.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Jeddah.
Branch Office (s)
Location Description
·
·
Al Mansouri
Building Rented
showroom premises
Bab Shareef
Jeddah
Tel: (966-2) 6473877
KEY PRINCIPALS
Name Position
·
Saleh
Bin Abdulrahman Al Matrie Proprietor
& General Manager
·
Ahmed
Hussain Abdullah Assistant
General Manager
·
Mohsin
Abdo Rabo Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1974, however
subject was registered on 23/04/1430 Hijri (corresponding to 18th
April 2009)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030188838,
Jeddah
Chamber Member No. : 136716
Invested Capital
: SR 500,000
Mr Saleh Bin
Abdulrahman Al Matrie is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of
ready made garments and textiles for men.
Import Countries:
Brand Names:
CARDINAL, RIVERLAND, PIRELLI and SURPRISE
Operating Trend: Steady
Subject has a
workforce of 24 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 17,220,000 SR 17,635,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Saudi
British Bank
PO Box: 109
Jeddah 21411
Tel: (966-2) 6512121
·
National
Commercial Bank
Al Balad Branch
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.77 |
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|
1 |
Rs.72.66 |
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Euro |
1 |
Rs.63.06 |
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 |
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.