MIRA
INFORM REPORT
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Report Date : |
22.03.2011 |
IDENTIFICATION DETAILS
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Name : |
AL YAFIE TRADING COMPANY |
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Registered Office : |
Al Habib Commercial Centre King Abdulaziz Street Bab Sharif District |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
06.05.2006 |
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Com. Reg. No.: |
4030161505, Jeddah |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Wholesalers and retailers of ready made garments. |
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$ 150,000 |
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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 YAFIE TRADING COMPANY
Country of Origin :
Legal Form :
Limited Liability Partnership
Registration Date :
6th May 2006
Commercial Registration Number :
4030161505, Jeddah
Chamber Membership Number :
110146
Issued Capital :
SR 250,000
Paid up Capital :
SR 250,000
Total Workforce :
25
Activities :
Wholesalers and retailers of ready made garments.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit :
US$ 150,000
Person Interviewed :
Hussain Al Yafie, Sales Manager
COMPANY NAME
AL YAFIE TRADING COMPANY
ADDRESS
Registered & Physical Address
Building : Al Habib
Commercial Centre
Street :
Area : Bab Sharif
District
PO Box : 23705
Town : Jeddah 21436
Country :
Telephone : (966-2) 6441601
Facsimile : (966-2)
6442933
Premises
Subject operates from a medium sized suite of offices and a showroom
that are rented and located in the Central Business Area of Jeddah.
Branch Office (s)
Location Description
· Al Batati Building Rented
showroom premises
Bab Sharif
District
Jeddah
Tel: (966-2)
6470047
KEY PRINCIPALS
Name Position
· Saleh Hassan Al
Yafie Managing
Partner
· Adel Saleh Hassan
Al Yafie Partner
· Nabeel Hussain Al
Yafie General
Manager
· Hussain Al Yafie Sales
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 08/04/1427 Hijri
(corresponding to 6th May 2006)
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 4030161505, Jeddah
Chamber Member No. : 110146
Issued Capital : SR 250,000
Paid up Capital : SR 250,000
Name of Partner (s)
· Saleh Hassan Al
Yafie
· Adel Saleh Hassan
Al Yafie
OPERATIONS
Activities: Engaged in the wholesale and retail of men’s, women’s and children’s
ready made garments.
Import Countries: Europe and the
Operating Trend: Steady
Subject has a workforce of 25 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
14,700,000 SR
15,500,000
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: 19513
Jeddah 21411
Tel: (966-2)
6512121
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.05 |
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1 |
Rs.73.05 |
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Euro |
1 |
Rs.63.81 |
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.