MIRA INFORM REPORT
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Report Date : |
16.11.2011 |
IDENTIFICATION DETAILS
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Name : |
AL NAMLAH & CO LTD |
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Registered Office : |
Al Nokhba
Commercial Center, North Tower, 2nd Floor, Hail Street, Al Baghdadiya District,
P O Box 40737, Jeddah 21511 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
30.05.1988 |
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Com. Reg. No.: |
4030061076, Jeddah |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of general foodstuffs. |
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$ 200,000 |
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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 – September 30th, 2011
|
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 NAMLAH & CO LTD
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 30th May 1988
Commercial Registration Number : 4030061076, Jeddah
Chamber Membership Number : 29168
Issued Capital : SR 3,000,000
Paid up Capital : SR 3,000,000
Total Workforce : 40
Activities : Distributors of general foodstuffs.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
AL NAMLAH & CO LTD
company ADDRESS
Registered &
Physical Address
Building : Al Nokhba Commercial Center,
North Tower, 2nd Floor
Street : Hail Street
Area : Al Baghdadiya District
PO Box : 40737
Town : Jeddah 21511
Country : Saudi Arabia
Telephone : (966-2) 6517778
Facsimile : (966-2) 6533432
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Jeddah.
Branch Office (s)
Location Description
·
Hayer
Street Office
premises
Riyadh
Tel: (966-1) 2135011
KEY PRINCIPALS
Name Position
·
Abdulaziz
Abdulrahman Abdulaziz Al Abdullah Al Namlah Managing
Partner
·
Sulaiman
Abdulrahman Abdulaziz Al Abdullah Al Namlah Partner
·
Ali
Abdulrahman Abdulaziz Al Abdullah Al Namlah Partner
·
Emad Al
Shawani Sales
Manager
·
Abdul
Moniem Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 14/10/1408
Hijri (corresponding to 30th May 1988)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 4030061076, Jeddah
Chamber Member No. : 29168
Issued Capital : SR 3,000,000
Paid up Capital : SR 3,000,000
Name of Partner
(s)
·
Abdulaziz
Abdulrahman Abdulaziz Al Abdullah Al Namlah
·
Sulaiman
Abdulrahman Abdulaziz Al Abdullah Al Namlah
·
Ali
Abdulrahman Abdulaziz Al Abdullah Al Namlah
OPERATIONS
Activities: Engaged in the import and distribution of
general foodstuffs, including pulses, rice, beans and sugar.
Import
Countries: Europe,
Southeast Asia and Mexico.
Operating Trend: Steady
Subject has a
workforce of 40 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 14,800,000 SR 15,300,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
National
Commercial Bank
PO Box: 3555
Jeddah 21481
Tel: (966-2) 6446644
Fax: (966-2) 6446644
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.50.56 |
|
UK Pound |
1 |
Rs.80.30 |
|
Euro |
1 |
Rs.68.79 |
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.