MIRA INFORM REPORT
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Report Date : |
08.11.2011 |
IDENTIFICATION DETAILS
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Name : |
AL FARIS BUILDING MATERIAL CO LTD |
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Registered Office : |
King Faisal Street,
Cross 3/4, P O Box 1123, Al Khobar 31952 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
03.12.2006 |
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Com. Reg. No.: |
2051003233, Al Khobar |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Wholesalers and retailers of building materials, wire, mesh, adhesives and door handles |
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 : |
Usually Correct |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
SUMMARY
Company Name : AL FARIS BUILDING MATERIAL CO LTD
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 3rd December 2006
Commercial Registration Number : 2051003233, Al Khobar
Issued Capital : SR 200,000
Paid up Capital : SR 200,000
Total Workforce : 35
Activities : Wholesalers and retailers of building materials, wire, mesh, adhesives
and door handles.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
AL FARIS BUILDING MATERIAL CO LTD
company ADDRESS
Registered &
Physical Address
Location : King Faisal Street, Cross 3/4
PO Box : 1123
Town : Al Khobar 31952
Country : Saudi Arabia
Telephone : (966-3) 8652206 / 8645206 / 8986052
Facsimile : (966-3) 8951971
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Al Khobar.
Branch Office
(s)
Location Description
·
King
Faisal Street Showroom
premises
Al Khobar 31952
Tel: (966-3) 8661359
·
Dammam Showroom
premises
Tel: (966-3) 8384606
KEY PRINCIPALS
Name Position
·
Nasser
Faris Al Faris Managing
Partner
·
Faris
Nasser Faris Al Faris Partner
·
Bader
Nasser Faris Al Faris Partner
·
Mohamed
Asif Ali Khan Sales
Manager
·
Hani
Mohamed Financial
Controller
LEGAL FORM & OWNERS
Date of Establishment : 13/11/1427
Hijri (corresponding to 3rd December 2006)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 2051003233,
Al Khobar
Issued Capital : SR 200,000
Paid up Capital : SR 200,000
Name of Partner
(s)
·
Nasser
Faris Al Faris
·
Faris
Nasser Faris Al Faris
·
Bader
Nasser Faris Al Faris
OPERATIONS
Activities: Engaged in the wholesale and retail of
building materials, wire, mesh, adhesives and door handles.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 35 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 12,870,000 SR 13,550,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
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National
Commercial Bank
PO Box: 1
Al Khobar 31952
Tel: (966-3) 8949669
Fax: (966-3) 8646474
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.49.08 |
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UK Pound |
1 |
Rs.78.65 |
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Euro |
1 |
Rs.67.79 |
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.