MIRA INFORM REPORT

 

 

Report Date :           

25.05.2011

 

IDENTIFICATION DETAILS

 

Name :

MOHAMED ALI AL ATTAS EST

 

 

Registered Office :

Makkah Road, Kilo 5, P O Box 23898, Jeddah 21436

 

 

Country :

Saudi Arabia

 

 

Date of Incorporation :

04.04.1982

 

 

Com. Reg. No.:

4030032464, Jeddah

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Distributors of engine components and spare parts

 

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$ 750,000

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

 

 Bottom of Form

 

SUMMARY

 

Company Name                                     : MOHAMED ALI AL ATTAS EST

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Sole Proprietorship

Registration Date                                   : 4th April 1982

Commercial Registration Number                        : 4030032464, Jeddah

Chamber Membership Number                : 10004

Invested Capital                                     : SR 1,500,000

Total Workforce                                     : 120

Activities                                               : Distributors of engine components and spare parts.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 750,000

 

 

 

COMPANY NAME

 

MOHAMED ALI AL ATTAS EST

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Makkah Road, Kilo 5

PO Box             : 23898

Town                 : Jeddah 21436

Country             : Saudi Arabia

Telephone         : (966-2) 6884488 / 6314218 / 6321619

Facsimile          : (966-2) 6876124 / 6321813

Email                : mohamed@ataengns.com / ataengns@gmail.com / info@attas.com

 

Premises

Subject operates from a medium sized suite of offices, a warehouse and a showroom that are owned and located in the Central Business Area of Jeddah.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       Riyadh                                                                                             Showroom premises

Tel: (966-1) 4465797

 

·       Banimalik                                                                                         Showroom premises

Tel: (966-2) 6721137

 

·       Nuzha                                                                                              Showroom premises

Tel: (966-2) 6582020 

 

·       Johara                                                                                              Showroom premises

Tel: (966-2) 6232299

 

·       Mutaib                                                                                              Showroom premises

Tel: (966-2) 6881081

 

·       Iskhan                                                                                              Showroom premises

Tel: (966-2) 6811144

 

·       Makkah                                                                                            Showroom premises

Tel: (966-2) 6321619

 

·       Khamis Mushait                                                                                Showroom premises

Tel: (966-7) 2330427

 

·       Abha                                                                                                Showroom premises

Tel: (966-7) 3177172

 

·       Jizan                                                                                                Showroom premises

Tel: (966-7) 2274462

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Mohamed Ali Al Attas                                                                        Proprietor & General Manager

 

·       Mohamed Ba Habri                                                                            Assistant General Manager

 

·       Ahmed Al Jifiri                                                                                   Sales Manager

 

·       Ashraf Sulaiman                                                                                Finance Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 10/06/1402 Hijri (corresponding to 4th April 1982)

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.  : 4030032464, Jeddah

 

Chamber Member No. : 10004

 

Invested Capital           : SR 1,500,000

 

Mr Mohamed Ali Al Attas is the sole proprietor of the business.

 

 

OPERATIONS

 

Activities: Engaged in the import, distribution and retail of engine components and spare parts for American and

     Japanese cars.

 

Subject also operates two shopping malls, Al Attas Commercial Centre, located in Yanbu and Sky Mall, located in Najran.

 

Import Countries: United States of America, Japan, Singapore, Malaysia, Taiwan, China, South Korea and Thailand

 

Subject has a workforce of 120 employees.

 

 

FINANCIAL DATA

 

Companies registered in Saudi Arabia are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

 

 

BANKERS

 

·       Saudi American Bank

Andalous Street

PO Box: 490

Jeddah 21411

Tel: (966-2) 6533555

 

·       Riyad Bank

Prince Fahad Street

PO Box: 9324

Jeddah 21413

Tel: (966-2) 6513333

 

 

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.45.25

UK Pound

1

Rs.72.82

Euro

1

Rs.63.58

 

 

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.