MIRA INFORM REPORT
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Report Date : |
29.11.2011 |
IDENTIFICATION DETAILS
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Name : |
SALEH AL MUBAYAD TRADING EST |
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Registered Office : |
King Saud Street,
Central Vegetable Market, P O Box 8591, Dammam 31492 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
05.02.1990 |
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Com. Reg. No.: |
2050019756, Dammam |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and retail of fruit, vegetables and dried foodstuffs |
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No. of Employees
: |
12 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 : SALEH AL MUBAYAD TRADING EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 5th February 1990
Commercial Registration Number : 2050019756, Dammam
Chamber Membership Number : 22467
Invested Capital : SR 20,000
Total Workforce : 12
Activities : Wholesale and retail of fruit, vegetables and dried foodstuffs.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
SALEH AL MUBAYAD TRADING EST
company ADDRESS
Registered &
Physical Address
Location : King Saud Street, Central Vegetable
Market
PO Box : 8591
Town : Dammam 31492
Country : Saudi Arabia
Telephone : (966-3) 8175969 / 8175866 / 8335733
Facsimile : (966-3) 8172199 / 8175764 / 8324541
Mobile : (966-50) 5856269
Email : smubayad@hotmail.com
Premises
Subject operates
from a small suite of offices and a retail outlet with storage facilities that
are rented and located in the Central Business Area of Dammam.
KEY PRINCIPALS
Name Position
·
Saleh Abdul
Kareem Abdullah Al Mubayad Proprietor
& General Manager
·
Hashim Ibrahim Assistant
General Manager
·
Mahmoud
Shafiq Sales
Manager
·
Mohamed
Shareef Finance
Manager
·
Shahid
Hamza Sales
Executive
LEGAL FORM & OWNERS
Date of Establishment : 10/07/1410
Hijri (corresponding to 5th February 1990)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 2050019756,
Dammam
Chamber Member No. : 22467
Invested Capital
: SR 20,000
Mr Saleh Abdul Kareem
Abdullah Al Mubayad is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of
fruit, vegetables and dried foodstuffs.
Import
Countries: India, Sri Lanka
and the Middle East.
International
Suppliers:
·
KLF
Nirmal Industries ( Pvt) Ltd India
·
KK Agro
Mills India
·
M O
John & Sons India
·
Consolidated
Business System (CBS) Sri Lanka
Operating Trend: Steady
Subject has a
workforce of 12 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 8,750,000 SR 9,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Riyad
Bank
Prince Mohammed Street
Jalawaih Quarter
PO Box: 5557
Dammam
Tel: (966-3) 8323440
Fax: (966-3) 8337829
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
business 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.51.98 |
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UK Pound |
1 |
Rs.80.59 |
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Euro |
1 |
Rs.69.12 |
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.