MIRA INFORM REPORT

 

 

Report Date :

15.06.2012

 

IDENTIFICATION DETAILS

 

Name :

MOHSIN ABDULLAH AL ESAYI CO LTD

 

 

Registered Office :

Al Hifni Commercial Centre, 6th Floor Al Dhahab Street Al Balad District PO Box 18169 Jeddah 21415

 

 

Country :

Saudi Arabia

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

23.11.1967

 

 

Com. Reg. No.:

4030178375, Jeddah

 

 

Legal Form :

Limited Liability Partnership

 

 

LINE OF BUSINESS :

WHOLESALERS AND RETAILERS OF TEXTILES AND READY MADE GARMENTS FOR MEN, WOMEN AND CHILDREN.

 

 

No. of Employees :

45

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

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 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                         : MOHSIN ABDULLAH AL ESAYI CO LTD

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Limited Liability Partnership

Registration Date                                   : 23rd November 1967

Commercial Registration Number            : 4030178375, Jeddah

Chamber Membership Number                : 127777

Issued Capital                                        : SR 50,000

Paid up Capital                                      : SR 50,000

Total Workforce                         : 45

Activities                                               : Wholesalers and retailers of textiles and ready made garments for men,

                                                              women and children.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

 

 

 

COMPANY NAME

 

MOHSIN ABDULLAH AL ESAYI TRADING CO LTD

 

 

ADDRESS

 

Registered & Physical Address

 

Building : Al Hifni Commercial Centre, 6th Floor

Street               : Al Dhahab Street

Area                 : Al Balad District

 

PO Box             : 18169

 

Town                 : Jeddah 21415

Country : Saudi Arabia

 

Telephone         : (966-2) 6492929 / 6480534 / 8818477

Facsimile          : (966-2) 6478796

Email                : office@malesayi.com / malesayi@shabakah.net.sa

 

Premises

 

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

 

Branch Office (s)

 

     Location                                                                                           Description

 

·       Al Basha Centre                                                                                Rented showroom premises

Al Dhahab Street

Al Balad District

Jeddah

Tel: (966-2) 6040418

 

·       Al Habib Centre                                                                                 Rented showroom premises

     Al Dhahab Street

Al Balad District

Jeddah

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Mohsin Abdullah Al Esayi                                                                  Managing Partner

 

·       Ali Mohsin Abdullah Al Esayi                                                             Partner

 

·       Riyad Mohsin Abdullah Al Esayi                                                         Partner

 

·       Mohamed Mohsin Abdullah Al Esayi                                                   Partner

 

·       Ahmed Mohsin Abdullah Al Esayi                                                       Partner

 

·       Omar Mohsin Abdullah Al Esayi                                                         Partner

 

·       Anis Mohsin Abdullah Al Esayi                                                           Partner

 

·       Saleh Hussain                                                                                  Financial Controller                   

 

 

LEGAL FORM & OWNERS

 

Date of Establishment: 21/08/1387 Hijri (corresponding to 23rd November 1967)

 

History                         : Subject began in 1967 as a Sole Proprietorship, however in 2010 it changed legal form and

                           became a Limited Liability Partnership.

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 4030178375, Jeddah

 

Chamber Member No.: 127777

 

Issued Capital              : SR 50,000

 

Paid up Capital            : SR 50,000

 

Name of Partner (s)

 

·       Mohsin Abdullah Al Esayi

 

·       Ali Mohsin Abdullah Al Esayi

 

·       Riyad Mohsin Abdullah Al Esayi

 

·       Mohamed Mohsin Abdullah Al Esayi

 

·       Ahmed Mohsin Abdullah Al Esayi

 

·       Omar Mohsin Abdullah Al Esayi

 

·       Anis Mohsin Abdullah Al Esayi

 

 

OPERATIONS

 

Activities: Engaged in the wholesale and retail of textiles and ready made garments for men, women and children.

 

Import Countries: Europe and the Far East.

 

Operating Trend: Steady

 

Subject has a workforce of 45 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 17,300,000                           SR 17,825,000

 

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

 

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

 

 

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

 

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.55.79

UK Pound

1

Rs.86.37

Euro

1

Rs.70.07

 

 

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.