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Report Date : |
07.08.2012 |
IDENTIFICATION DETAILS
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Name : |
AL GANOUB TANNING FACTORY |
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Registered Office : |
Abha – Khamis Mushait
Road, Madinat Sultan, P O Box 1133,.
Khamis Mushait 61961 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
04.09.1988 |
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Com. Reg. No.: |
5855007911, Khamis Mushait |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Operators of a tannery |
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No. of Employees : |
190 |
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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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 – 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 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company Name : AL GANOUB TANNING FACTORY
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 4th September 1988
Commercial Registration Number : 5855007911, Khamis Mushait
Industry Licence Number : 1132/S
Invested Capital : SR 50,000
Total Workforce : 190
Activities : Operators of a tannery.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Sayed Mohamed, Financial Controller
AL GANOUB TANNING
FACTORY
Registered &
Physical Address
Street : Abha – Khamis Mushait Road
Area : Madinat Sultan
PO Box : 1133
Town : Khamis Mushait 61961
Country : Saudi Arabia
Telephone : (966-7) 2271497 / 2274444 / 2271005 /
2273437
Facsimile : (966-7) 2274537 / 2271537
Mobile : (966-50) 3069563
Email : alganoub_tannery@yahoo.com
Premises
Subject operates
from a large suite of offices and a factory that are rented and located in the
Industrial Area of Khamis Mushait.
Name Position
·
Mohamed
Rashid Al Jarbu Proprietor
·
Mahmoud
Zohdi General
Manager
·
Hakeem
Ali Commercial
Manager
·
Sayed
Mohamed Financial
Controller
Date of Establishment : 22/01/1409
Hijri (corresponding to 4th September 1988)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 5855007911,
Khamis Mushait
Industry Licence No. : 1132/S
Invested Capital
: SR 50,000
Mr Mohamed Rashid Al Jarbu is the sole proprietor of the business.
Activities: Operators of a tannery, processing and
export of finished leather products.
Import
Countries: Europe and GCC
countries.
Operating Trend: Steady
Subject has a
workforce of approximately 190 employees.
Financial
highlights provided by local sources are given below:
Currency: Saudi
Riyals (SR)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales SR 38,800,000 SR 41,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Sayed
Mohamed, Financial Controller
·
National
Commercial Bank
PO Box: 12
Abha
Tel: (966-7) 2241912
Fax:
(966-7) 2243916
No complaints regarding
subject’s payments have been reported.
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.55.47 |
|
UK Pound |
1 |
Rs.86.60 |
|
Euro |
1 |
Rs.68.66 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
|
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 |
|
<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.