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Report Date : |
29.08.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
ABD ELLAH MOHAMED AL THABIT EST |
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Registered Office : |
Al Hagbani Complex, Takhassusi
Street, Takhassusi District, P O Box 89886, Riyadh
11692 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
16.02.2005 |
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Com. Reg. No.: |
1010297278, Riyadh |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of powder coatings, spray cans, furnaces and related spare parts |
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No. of Employees : |
10 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Company Name : ABD ELLAH MOHAMED AL THABIT EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 16th February 2005
Commercial Registration Number : 1010297278, Riyadh
Chamber Membership Number : 257627
Invested Capital : SR 80,000
Total Workforce : 10
Activities : Distributors of powder coatings, spray cans, furnaces and related spare
parts
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Jihad Ahmed, Sales Manager
ABD ELLAH MOHAMED AL THABIT EST
Registered &
Physical Address
Building : Al Hagbani
Complex
Street : Takhassusi
Street
Area : Takhassusi
District
PO Box : 89886
Town : Riyadh 11692
Country : Saudi Arabia
Telephone : (966-1) 2708869
Facsimile : (966-1) 2708869
Mobile : (966-50) 3479820
Email : jihad@thabco.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Riyadh.
Name Position
·
Abd Ellah Mohamed Al Thabit Proprietor
& General Manager
·
Jihad
Ahmed Sales
Manager
Date of Establishment : 16th
February 2005
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1010297278,
Riyadh
Chamber Member No. : 257627
Invested Capital
: SR 80,000
Mr Abd Ellah Mohamed Al Thabit is the
sole proprietor of the business.
·
Al Thabit Factory For Furnaces
Riyadh
Activities: Engaged in the import and distribution of
powder coatings, spray cans, furnaces and related spare parts.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 10 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 9,175,000 SR 9,600,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
National
Commercial Bank
Malaz Branch
PO Box: 42536
Tel: (966-1) 4776450
Fax: (966-1) 4769502
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.55.78 |
|
UK Pound |
1 |
Rs.88.04 |
|
Euro |
1 |
Rs.69.62 |
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 |
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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 |
|
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.