MIRA INFORM REPORT

Report Date :

05.06.2012

IDENTIFICATION DETAILS

Name :	FAHAD ABDUL KARIM AL GHUREMEEL TRADING EST

Registered Office :	Athiqa Area, P O Box 380157, Riyadh 11345

Country :	Saudi Arabia

Financials (as on) :	31.12.2011

Date of Incorporation :	27.07.1996

Com. Reg. No.:	1010129632, Riyadh

Legal Form :	Sole Proprietorship

Line of Business :	Distributors of general fresh and frozen foodstuffs

No. of Employees :	12

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
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 31^st, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Saudi Arabia

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

SUMMARY

Company Name : FAHAD ABDUL KARIM AL GHUREMEEL TRADING EST

Country of Origin : Saudi Arabia

Legal Form : Sole Proprietorship

Registration Date : 27^th July 1996

Commercial Registration Number : 1010129632, Riyadh

Chamber Membership Number : 64672

Invested Capital : SR 25,000

Total Workforce : 12

Activities : Distributors of general fresh and frozen foodstuffs.

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

COMPANY NAME

FAHAD ABDUL KARIM AL GHUREMEEL TRADING EST

company ADDRESS

Registered & Physical Address

Location : Athiqa Area

PO Box : 380157

Town : Riyadh 11345

Country : Saudi Arabia

Telephone : (966-1) 4584157 / 4395791 / 2725679

Facsimile : (966-1) 4584157

Mobile : (966-55) 5479289 / (966-50) 0248627 / (966-56) 9437063

Premises

Subject operates from a small suite of offices and a warehouse that are rented and located in the Suburban Business Area of Riyadh.

KEY PRINCIPALS

Name Position

· Fahad Abdul Karim Al Ghuremeel Proprietor & General Manager

· Anwar Sadat Assistant General Manager

· Nasser Eddine Mohamed Sales Manager

LEGAL FORM & OWNERS

Date of Establishment : 27^th July 1996

Legal Form : Sole Proprietorship

Commercial Reg. No. : 1010129632, Riyadh

Chamber Member No. : 64672

Invested Capital : SR 25,000

Mr Fahad Abdul Karim Al Ghuremeel is the sole proprietor of the business.

OPERATIONS

Activities: Engaged in the import and distribution of general fresh and frozen foodstuffs. Subject also operates cold storage facilities.

Import Countries: Europe and the Far East.

Operating Trend: Steady

Subject has a workforce of 12 employees.

FINANCIAL DATA

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 9,100,000 SR 9,750,000

Local sources consider subject’s financial condition to be Fair.

The above financial figures are based on estimations by our local sources.

BANKERS

· National Commercial Bank

Malaz Branch

PO Box: 42536

Riyadh 11551

Tel: (966-1) 4776450

Fax: (966-1) 4769502

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 business is considered to be a fair trade risk.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.52
UK Pound	1	Rs.85.29
Euro	1	Rs.68.86

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
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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.