MIRA INFORM REPORT
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Report Date : |
26.11.2011 |
IDENTIFICATION DETAILS
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Name : |
IBDAA ALQASER COMPANY FOR MARKETING |
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Registered Office : |
Heraa
International Market, P O Box
11995, Jeddah 21463 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
05.04.2009 |
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Com. Reg. No.: |
4030188421, Jeddah |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of general foodstuffs |
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No. of Employees
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200 Persons |
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
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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 : IBDAA ALQASER COMPANY FOR MARKETING
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 5th April 2009
Commercial Registration Number : 4030188421, Jeddah
Chamber Membership Number : 139220
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Total Workforce : 200
Activities : Distributors of general foodstuffs.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
Person Interviewed : Walid Al Wasabi, Administration Manager
COMPANY NAME
IBDAA ALQASER COMPANY FOR MARKETING
company ADDRESS
Registered &
Physical Address
Location : Heraa International Market
PO Box : 11995
Town : Jeddah 21463
Country : Saudi Arabia
Telephone : (966-2) 6581555
Facsimile : (966-2) 6583735
Mobile : (966-53) 5779922
Email : sabry.alawaji@manueltrade.com
Subject operates
from a large suite of offices and a showroom that are rented and located in the
Central Business Area of Jeddah.
Branch Office (s)
Location Description
·
Al Jeelany Centre Rented
hypermarket
Al Balad Area
Jeddah
·
China
Town Rented
hypermarket
Al Baterjee Street
Jeddah
Tel: (966-2) 6907000
KEY PRINCIPALS
Name Position
·
Abdul
Alaah Ahmed Darwish Managing
Partner
·
Ibrahim
Mohamed Al Musbahi Partner
·
Sabry
Al Awaji Assistant
General Manager
·
Walid Al
Wasabi Administration
Manager
·
Adel Al
Saif Commercial
Manager
·
Adel Al
Sayed Marketing
Manager
LEGAL FORM & OWNERS
Date of Establishment : 10/04/1430
Hijri (corresponding to 5th April 2009)
Legal Form :
Limited Liability Partnership
Commercial Reg. No. : 4030188421, Jeddah
Chamber Member No. : 139220
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Name of Partner
(s)
·
Abdul
Alaah Ahmed Darwish
·
Ibrahim
Mohamed Al Musbahi
OPERATIONS
Activities: Engaged in the import and distribution of
general foodstuffs, including bakery products, pulses and
vegetables.
Subject also operates the Manuel chain of
hypermarkets.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of approximately 200 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: 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.17 |
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UK Pound |
1 |
Rs.80.64 |
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Euro |
1 |
Rs.69.43 |
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.