MIRA
INFORM REPORT
|
Report Date : |
17.10.2011 |
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 : |
Subject operate through the divisions of Property Division and Garments Division |
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 – 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 : 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 : 25
Activities : i) Leasing and maintaining of commercial premises and property.
ii) wholesale
and retail of ladies fashion garments.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
Person Interviewed : Sharif Mostafa Garooda, Leasing Manager
COMPANY NAME
ASWAQ ALALAM COMPANY
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
Mobile : (966-53) 1519208
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.
Branch Offices
Location Description
·
Gharnata
Mall Showroom
premises
Riyadh
·
Riyadh
Gallery Showroom premises
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 Garooda 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: Subject’s operations are performed through
the following divisions:
·
Property
Division
Engaged in the leasing and
maintaining of commercial premises and property.
Agencies Held:
· Colliers International Dubai
· Thermo Ins Turkey
·
Garments
Division
Engaged in the wholesale and retail of ladies fashion garments.
Agencies Held:
·
Bella
Donna Italy
Subject has a
workforce of 25 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
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 |
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.