MIRA INFORM REPORT

 

 

Report Date :

07.10.2011

 

IDENTIFICATION DETAILS

 

Name :

ASWAQ ALALAM COMPANY

 

 

Registered Office :

Saudi Ceramic Building, 8th Floor King Fahd Street Olaya District PO Box  3331

Riyadh 11471

 

 

Country :

Saudi Arabia

 

 

Date of Incorporation :

14.09.2002

 

 

Com. Reg. No.:

1010180454, Riyadh

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Leasing and maintaining of commercial premises and property.

 

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$ 150,000

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

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                         : ASWAQ ALALAM COMPANY

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Limited Liability Partnership

Registration Date                                   : 14th September 2002

Commercial Registration Number            : 1010180454, Riyadh

Chamber Membership Number                : 126584

Issued Capital                                        : SR 500,000

Paid up Capital                                      : SR 500,000

Total Workforce                                     : 20

Activities                                               : Leasing and maintaining of commercial premises and property.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 150,000

 

 

 

 

COMPANY NAME

 

ASWAQ ALALAM COMPANY

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : Saudi Ceramic Building, 8th Floor

Street               : King Fahd Street

Area                 : Olaya District

 

PO Box             : 3331

 

Town                 : Riyadh 11471

Country             : Saudi Arabia

 

Telephone         : (966-1) 4661517

Facsimile          : (966-1) 4647134

Email                : ahmad@aswaqalalam.com

 

Premises

 

Subject operates from a medium sized suite of offices that are rented and located in the Central Business Area of Riyadh.

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Ahmed Ali Mahmoud Al Janoubi                                                         Managing Partner

 

·       Ali Ahmed Al Janoubi                                                                        Partner

 

·       Samiya Abdulaziz Al Yousef                                                              Partner

 

·       Mulhem Suwaid                                                                                Commercial Manager

 

·       Sharif Mostafa                                                                                   Leasing Manager

 

·       Mohamed Shaaban                                                                           Finance Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 08/07/1423 Hijri (corresponding to 14th September 2002)

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 1010180454, Riyadh

 

Chamber Member No. : 126584

 

Issued Capital              : SR 500,000

 

Paid up Capital            : SR 500,000

 

Name of Partner (s)

 

·       Ahmed Ali Mahmoud Al Janoubi

 

·       Ali Ahmed Al Janoubi

 

·       Samiya Abdulaziz Al Yousef

 

 

OPERATIONS

 

Activities: Engaged in the leasing and maintaining of commercial premises and property.

 

Agencies Held:

 

·       Colliers International  Dubai

 

Subject has a workforce of 20 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

Malaz Branch

PO Box: 42536

Riyadh 11551

Tel: (966-1) 4776450

Fax: (966-1) 4769502

 

 

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.49.19

UK Pound

1

Rs.75.92

Euro

1

Rs.65.44

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.