MIRA INFORM REPORT

 

 

Report Date :

28.04.2012

 

IDENTIFICATION DETAILS

 

Name :

FARAHA M S JOUHAN TRADING & CONTRACTING EST

 

 

Registered Office :

Al Mohana Building, Al Mohamdiya District, P O Box 69123, Dammam 31547

 

 

Country :

Saudi Arabia 

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

15.05.2010

 

 

Com. Reg. No.:

2050039248, Dammam

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

General contractors

 

 

No. of Employees :

45

 

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

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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                         : FARAHA M S JOUHAN TRADING & CONTRACTING EST

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Sole Proprietorship

Registration Date                                   : 15th May 2010

Commercial Registration Number            : 2050039248, Dammam

Chamber Membership Number                : 137769

Invested Capital                                     : SR 150,000

Total Workforce                                     : 45

Activities                                               : General contractors

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

 

 

 

COMPANY NAME

 

FARAHA M S JOUHAN TRADING & CONTRACTING EST

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Al Mohana Building

Area                 : Al Mohamdiya District

PO Box             : 69123

Town                 : Dammam 31547

Country             : Saudi Arabia

Telephone         : (966-3) 8377078 / 8377074 / 8283771

Facsimile          : (966-3) 8377079 / 8283772

Mobile               : (966-56) 9321791

Email                : farahasa@farahasa.com / dgm@farahasa.com

 

Premises

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

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Faraha Mohamed Sirfraz Jouhan                                                         Proprietor

 

·       Nouman Naeem Al Haq Abdul Majeed Al Jouhan                                 General Manager

 

·       Mohamed Ali                                                                                    Administration Manager

                                                                                                                

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 02/06/1431 Hijri (corresponding to 15th May 2010)

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.  : 2050039248, Dammam

 

Chamber Member No. : 137769

 

Invested Capital           : SR 150,000

 

Mrs Faraha Mohamed Sirfraz Jouhan is the sole proprietor of the business.

 

AFFILIATED COMPANIES

 

·       QS Cert Saudi Arabia

Dammam

CR No. 2050070642

 

 

OPERATIONS

 

Activities: Engaged as general contractors, specialising in telecommunication, substations, towers, electrical and

                 pumping services.

 

Subject has a workforce of 45 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Saudi Riyals (SR)

 

                                                            Year Ending 31/12/11:

 

Total Sales                                            SR 11,500,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       National Commercial Bank

PO Box: 13

Dammam 31411

Tel: (966-3) 8331188

Fax: (966-3) 8336058

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

 

GENERAL COMMENTS

 

Local sources report that the subject’s operating history is clear with payment obligations met in a generally timely manner. The financial position is satisfactory and the business is deemed a fair trade risk.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.68

UK Pound

1

Rs.85.12

Euro

1

Rs.69.38

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.