MIRA INFORM REPORT

 

 

Report Date :

04.07.2012

 

IDENTIFICATION DETAILS

 

Name :

CITY COTTON EST

 

 

Registered Office :

Corniche Commercial Centre, 8th Floor Al Balad Mall, Al Balad District PO Box 20313 Jeddah 21455

 

 

Country :

Saudi Arabia

 

 

Date of Incorporation :

26.01.2011

 

 

Com. Reg. No.:

4030208592, Jeddah

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Wholesalers and retailers of bed sheets, duvet covers, comforters and other household textiles

 

 

No. of Employees :

6

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

No Complaints

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                         : CITY COTTON EST

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Sole Proprietorship

Registration Date                                   : 26th January 2011

Commercial Registration Number            : 4030208592, Jeddah

Chamber Membership Number                : 153583

Invested Capital                                     : SR 50,000

Total Workforce                                     : 6

Activities                                               : Wholesalers and retailers of bed sheets, duvet covers, comforters and other  household textiles

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

 

 

 

COMPANY NAME

 

CITY COTTON EST

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : Corniche Commercial Centre, 8th Floor

Area                 : Al Balad Mall, Al Balad District

 

PO Box             : 20313

 

Town                 : Jeddah 21455

Country             : Saudi Arabia

 

Telephone         : (966-2) 6424275 / 6484495

Facsimile          : (966-2) 6438676

Mobile               : (966-50) 4323122

 

Premises

 

Subject operates from a small suite of offices and a showroom that are rented and located in the Central Business Area of Jeddah.

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Yasser Hassan Salem Al Waal                                                          Proprietor & General Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 21/02/1432 Hijri (corresponding to 26th January 2011)

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.  : 4030208592, Jeddah

 

Chamber Member No. : 153583

 

Invested Capital           : SR 50,000

 

Mr Yasser Hassan Salem Al Waal is the sole proprietor of the business.

 

 

OPERATIONS

 

Activities: Engaged in the wholesale and retail of bed sheets, duvet covers, comforters and other household textiles.

 

Import Countries: Europe and the Far East.

 

Subject has a workforce of 6 employees.

 

 

FINANCIAL DATA

 

Subject is a newly formed business and as a result financial information is not currently available.

 

 

BANKERS

 

·       Arab National Bank

Madinah Road

PO Box: 9463

Jeddah 21413

Tel: (966-2) 6600272

Fax: (966-2) 6650202

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

In view of subject’s infancy, extensive payment and financial are not available, therefore dealings are recommended to be on secured terms, and a close monitoring of subject’s business development is advisable.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.81

UK Pound

1

Rs.86.04

Euro

1

Rs.69.06

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.