MIRA INFORM
REPORT
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Report Date : |
12.05.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
TAIF AL HAYA EST |
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Registered Office : |
Seema Building,
Olaya Main Road, Olaya District, P O Box 61397, Riyadh 11565 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
31.07.1995 |
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Com. Reg. No.: |
1010136935, Riyadh |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of chemicals and primary packaging materials |
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
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 |
SUMMARY
Company Name : TAIF AL HAYA EST
Also Known As : AL HAYA SPECTRUM
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 31st July 1995
Commercial Registration Number : 1010136935, Riyadh
Chamber Membership Number : 72958
Invested Capital : SR 100,000
Total Workforce : 5
Activities : Distributors of chemicals and primary packaging materials
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
TAIF AL HAYA EST
ALSO KNOWN AS
AL HAYA SPECTRUM
company ADDRESS
Registered & Physical Address
Building : Seema Building
Street : Olaya Main Road
Area : Olaya District
PO Box : 61397
Town : Riyadh 11565
Country : Saudi Arabia
Telephone : (966-1) 4652488 / 4623661 / 4083921
Facsimile : (966-1) 4623661
Email : alhaya_spectrum@hotmail.com
Premises
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Riyadh.
KEY PRINCIPALS
Name Position
·
Mohsin
Sayar Al Onaizi Proprietor
& General Manager
·
Mohamed
Khiza Basha Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 31st
July 1995
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1010136935,
Riyadh
Chamber Member No. : 72958
Invested Capital
: SR 100,000
Mr Mohsin Sayar Al
Onaizi is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the import and distribution of
chemicals and primary packaging materials for the
pharmaceutical and cosmetics industries.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 5 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 8,625,000 SR 8,800,000
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 (ANB)
King Faisal Street
PO Box: 56921
Riyadh 11564
Tel: (966-1) 4029000
Fax: (966-1) 4027747
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.69 |
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UK Pound |
1 |
Rs.73.12 |
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Euro |
1 |
Rs.64.39 |
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.