MIRA
INFORM REPORT
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Report Date : |
13.01.2012 |
IDENTIFICATION DETAILS
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Name : |
AL DAGAL CO LTD
FOR TANNING & LEATHER ACCESSORIES |
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Formerly Known As : |
AL DAGAL (P) LTD |
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Registered Office : |
Madinah Road, Al Faisaliyah,
4213 & 587, Madinah |
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Country : |
Saudi Arab |
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Date of Incorporation : |
08.04.2001 |
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Com. Reg. No.: |
4650030973,
Madinah |
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Legal Form : |
Limited Liability
Partnership |
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Line of Business : |
Engaged
in the processing of leather products, including shoes, jackets, belts and
wallets. |
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No. of Employees : |
160 |
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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Maximum Credit Limit : |
US$ 350,000 |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Saudi Arab |
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 |
SUMMARY
Company Name :
AL DAGAL CO LTD FOR TANNING & LEATHER ACCESSORIES
Also Known As :
AL DAGAL (P) LTD
Country of Origin :
Saudi Arabia
Legal Form :
Limited Liability Partnership
Registration Date :
8th April 2001
Commercial Registration Number :
4650030973, Madinah
Chamber Membership Number :
621
Issued Capital :
SR 1,500,000
Paid up Capital :
SR 1,500,000
Total Workforce :
160
Activities :
Processing of leather products.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Recommended Credit Limit :
US$ 350,000
Person Interviewed :
Musbbah Eddine, Sales Manager
COMPANY NAME
AL DAGAL CO LTD FOR
TANNING & LEATHER ACCESSORIES
ALSO KNOWN AS
AL
DAGAL (P) LTD
ADDRESS
Registered & Physical Address
Street : Madinah Road
Area : Al Faisaliyah
PO Box : 4213 & 587
Town : Madinah
Country : Saudi Arabia
Telephone : (966-4) 8458535 / 8458536 / 8458537 /
8454888
Facsimile : (966-4) 8458539 / 8458542 / 8452344
Mobile : (966-50) 9653870
Email : sales@aldagal.com / dagalh@gmail.com / dagalh@icc.net.sa
Premises
Subject operates
from a large suite of offices and a factory that are owned and located in the
Suburban Business Area of Madinah.
Branch Office
(s)
Location Description
·
Jeddah Sales
Office
Tel: (966-2) 6650512
Fax: (966-2) 6655548
·
Riyadh Sales
Office
Tel: (966-1) 4951961
·
Dammam Sales
Office
Tel: (966-3) 8337883
KEY PRINCIPALS
Name Position
·
Talal Abdul Qader Asaad Al Dagal Managing
Partner
·
Saud Abdul Qader Al Dagal Partner
·
Khalid Abdul Qader Al Dagal Partner
·
Musbbah
Eddine Sales
Manager
·
Shareef
Mohamed Financial
Controller
LEGAL FORM & OWNERS
Date of Establishment : 8th
April 2001
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 4650030973, Madinah
Chamber Member No. : 621
Issued Capital : SR 1,500,000
Paid up Capital : SR 1,500,000
Name of Partner (s)
·
Talal Abdul Qader Asaad Al Dagal
·
Saud Abdul Qader Al Dagal
·
Khalid Abdul Qader Al Dagal
OPERATIONS
Activities: Engaged in the
processing of leather products, including shoes, jackets, belts and wallets.
Import
Countries: Pakistan, India
and China.
Subject has a
workforce of approximately 160 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
Al Balad Branch
King Abdulaziz Street
PO Box: 5066
Jeddah 21422
Tel: (966-2) 6434777
Fax: (966-2) 6441686
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.51.83 |
|
|
1 |
Rs.79.42 |
|
Euro |
1 |
Rs.65.90 |
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 |
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<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.