MIRA INFORM REPORT
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Report Date : |
18.11.2011 |
IDENTIFICATION DETAILS
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Name : |
IBRAHIM ABDALLAH ALDOBAAI TRADING EST |
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Registered Office : |
Exit 16, Sulahee Ring
Road, P O Box 601,Riyadh 11421 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
29.07.1969 |
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Com. Reg. No.: |
1010004910, Riyadh |
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Legal Form : |
Sole Proprietorship |
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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$ 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 – 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 : IBRAHIM ABDALLAH ALDOBAAI TRADING EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 29th July 1969
Commercial Registration Number : 1010004910, Riyadh
Membership Number : 12
Invested Capital : SR 40,000
Total Workforce : 10
Activities : Distributors of general foodstuffs.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
IBRAHIM ABDALLAH ALDOBAAI TRADING EST
company ADDRESS
Registered &
Physical Address
Location : Exit 16, Sulahee Ring Road
PO Box : 601
Town : Riyadh 11421
Country : Saudi Arabia
Telephone : (966-1) 2704021 / 4765002
Facsimile : (966-1) 2441409
Email :
aldobaai@yahoo.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Riyadh.
KEY PRINCIPALS
Name Position
·
Ibrahim
Abdallah Aldobaai Proprietor
& General Manager
·
Sayed
Fakhr Mohiuddine Sales
& Purchase Manager
·
Emad
Abdul Mohsin Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 15/05/1389
Hijri (corresponding to 29th July 1969)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1010004910,
Riyadh
Membership No. : 12
Invested Capital
: SR 40,000
Mr Ibrahim Abdallah
Aldobaai is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the import and distribution of
general foodstuffs, including pulses, rice, beans, oil, sugar, meat, spices, tea and flour.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 10 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 15,280,000 SR 16,000,000
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
Batha Branch
PO Box: 34
Tel: (966-1) 4010076 / 4025084
Fax: (966-1) 4034625
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the business is deemed a fair trade risk
and the above credit figure is considered to be within subject’s financial
means.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.50.72 |
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UK Pound |
1 |
Rs.79.88 |
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Euro |
1 |
Rs.68.64 |
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.