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Report Date : |
08.08.2012 |
IDENTIFICATION DETAILS
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Name : |
AL SAHARI AL ARABIA EST FOR FABRICS |
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Registered Office : |
Dahlawi Villa,
Sitteen Street, Baghdalah District, P O Box 19868, Jeddah 21445 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
31.12.1986 |
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Com. Reg. No.: |
4030055789,
Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and retail of fabrics, textiles and
shoes. |
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No. of Employees : |
12 |
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 |
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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 |
Company Name : AL SAHARI AL ARABIA EST FOR FABRICS
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 31st December 1986
Commercial Registration Number : 4030055789, Jeddah
Chamber Membership Number : 26296
Invested Capital : SR 40,000
Total Workforce : 12
Activities : Wholesale and retail of fabrics, textiles and shoes.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
AL SAHARI AL ARABIA EST FOR FABRICS
Registered &
Physical Address
Building : Dahlawi Villa
Street : Sitteen Street
Area : Baghdalah District
PO Box : 19868
Town : Jeddah 21445
Country : Saudi Arabia
Telephone : (966-2) 6493337 / 6494464 / 6490091
Facsimile : (966-2) 6490200
Email : alsahari1@dreamnet.ws
Please note that
subject’s previous address was, King Street, Souq Al Nada, Al Balad District,
Jeddah.
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Jeddah.
Name Position
·
Gamal Mohamed Muthar Al Amoudi Proprietor
& General Manager
Date of Establishment : 29/04/1407 Hijri
(corresponding to 31st December 1986)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030055789,
Jeddah
Chamber Member No. : 26296
Invested Capital
: SR 40,000
Mr Gamal Mohamed
Muthar Al Amoudi is the sole
proprietor of the business.
·
Al Amoudi Trading Co
Jeddah
Chamber Membership No. 33636
Activities: Engaged in the wholesale and retail of
fabrics, textiles and shoes.
Import
Countries: Spain, Pakistan
and India
Operating Trend: Steady
Subject has a
workforce of 12 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 10,180,000 SR 10,625,000
Local sources consider
subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Saudi
British Bank
PO Box: 109
Jeddah 21411
Tel: (966-2) 6512121
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.50 |
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UK Pound |
1 |
Rs.86.40 |
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Euro |
1 |
Rs.68.69 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.