MIRA
INFORM REPORT
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Report Date : |
14.10.2011 |
IDENTIFICATION DETAILS
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Name : |
TAHA SAEED AL ESAYI TRADING EST |
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Registered Office : |
Al Hafni Centre, 10th Floor Al Balad Street Al Khashiyah PO
Box 18724 Jeddah 21425 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
29.10.1990 |
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Com. Reg. No.: |
4030073975, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesalers and retailers of ready made garments and clothing accessories. |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complains |
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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 30, 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 : TAHA SAEED AL ESAYI TRADING EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 29th October 1990
Commercial Registration Number : 4030073975, Jeddah
Chamber Membership Number : 36240
Invested Capital : SR 100,000
Total Workforce : 12
Activities : Wholesalers and retailers of ready made garments and clothing
accessories.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
Person Interviewed : Saeed Ali, Sales Manager
COMPANY NAME
TAHA SAEED AL ESAYI TRADING EST
ADDRESS
Registered & Physical Address
Building : Al Hafni
Centre, 10th Floor
Street : Al Balad
Street
Area : Al Khashiyah
PO Box : 18724
Town : Jeddah 21425
Country : Saudi Arabia
Telephone : (966-2) 6480678
/ 6484653 / 6494945
Facsimile : (966-2)
6475762
Mobile : (966-50) 4602304
/ (966-55) 1090195
Email : 4u@taiesayi.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Jeddah.
Branch Office (s)
Location Description
· Al Andalus Street Rented
showroom premises
Riyadh
Tel: (966-1)
4574742
KEY PRINCIPALS
Name Position
· Taha Saeed
Abdullah Al Esayi Proprietor
& General Manager
· Saleh Afifi Commercial
Manager
· Saeed Ali Sales
Manager
· Safwat
Abdulrahim Mohamed Financial
Controller
LEGAL FORM & OWNERS
Date of
Establishment : 10/04/1411 Hijri
(corresponding to 29th October 1990)
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 4030073975, Jeddah
Trade Licence No. : 101/2153
Chamber Member No. : 36240
Invested Capital : SR 100,000
Mr Taha Saeed Al Esayi is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of ready made garments and clothing
accessories.
Import Countries: Europe and the Far East.
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
9,600,000 SR
10,250,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Saeed Ali, Sales
Manager
BANKERS
·
National Commercial Bank
King Abdul Aziz
Street
PO Box: 3555
Jeddah 21481
Tel: (966-2)
6446644
Fax: (966-2)
6446644
Acc No.
12116658000109
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
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.49.02 |
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|
1 |
Rs.77.13 |
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Euro |
1 |
Rs.67.55 |
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 |
-- |
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.