MIRA INFORM REPORT
|
Report Date : |
19.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
SAEED AHMAD ALMAHROOS & SONS COMPANY |
|
|
|
|
Registered Office : |
Prince Naif Street, Al Mohamadiya
District, Seihat, P O Box
354, Dammam 31411 |
|
|
|
|
Country : |
Saudi Arabia |
|
|
|
|
Date of Incorporation : |
26.07.1992 |
|
|
|
|
Com. Reg. No.: |
2050023677, Dammam |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business : |
Import and distribution of general foodstuff products |
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$ 500,000 |
|
|
|
|
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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Saudi Arabia |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SUMMARY
Company Name : SAEED AHMAD ALMAHROOS & SONS COMPANY
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 26th July 1992
Commercial Registration Number : 2050023677, Dammam
Chamber Membership Number : 3964
Issued Capital : SR 3,500,000
Paid up Capital : SR 3,500,000
Total Workforce : 500
Activities : Import and
distribution of general foodstuff products. Subject also
operates 5 supermarkets.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 500,000
Person Interviewed : Badr Saeed Ahmed Al Mahroos, Partner
COMPANY NAME
SAEED AHMAD ALMAHROOS
& SONS COMPANY
company ADDRESS
Registered &
Physical Address
Street : Prince Naif Street
Area : Al Mohamadiya
District, Seihat
PO Box : 354
Town : Dammam 31411
Country : Saudi Arabia
Telephone : (966-3) 8392923 / 8376655 / 8375588
Facsimile : (966-3) 8290712 / 8376622
Email : mahroos@al-mahroos.com
Premises
Subject operates
from a large suite of offices that are rented and located in the Suburban
Business Area of Dammam.
Branch Office (s)
Subject operates branches located in Riyadh, Jeddah, Qassim and Arar.
KEY PRINCIPALS
Name Position
·
Abdulaziz
Saeed Ahmed Al Mahroos Managing
Partner
·
Khalid Saeed
Ahmed Al Mahroos Partner
·
Badr
Saeed Ahmed Al Mahroos Partner
·
Riyad
Abu Khater Commercial
Manager
·
Mohamed Tayseer Financial
Controller
LEGAL FORM & OWNERS
Date of Establishment : 26/01/1413
Hijri (corresponding to 26th July 1992)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 2050023677,
Dammam
Chamber Member No. : 3964
Issued Capital : SR 3,500,000
Paid up Capital : SR 3,500,000
Name of Partner
(s)
·
Abdulaziz
Saeed Ahmed Al Mahroos
·
Khalid Saeed
Ahmed Al Mahroos
·
Badr
Saeed Ahmed Al Mahroos
AFFILIATED COMPANIES
·
Mazaya
Food Trading
Qatif
Tel: (966-3) 8543197
Fax: (966-3) 8543268
OPERATIONS
Activities: Engaged in the import and distribution of
general foodstuff products. Subject also operates 5 supermarkets located in
Dammam, Qatif and Al Ahsa.
Import
Countries: Europe and Asia
Subject has a
workforce of approximately 500 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
·
National
Commercial Bank
PO Box: 13
Dammam 31411
Tel: (966-3) 8331188
Fax: (966-3) 8336058
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.51.35 |
|
UK Pound |
1 |
Rs.80.97 |
|
Euro |
1 |
Rs.68.26 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.