MIRA INFORM REPORT

 

 

Report Date :

06.03.2012

 

IDENTIFICATION DETAILS

 

Name :

MITSUBISHI ELECTRIC SAUDI LTD

 

 

Registered Office :

Akariyah New Building, Building No. 3 Salahuddine Street PO Box 2391 Riyadh 11451

 

 

Country :

Saudi Arabia

 

 

Date of Incorporation :

28.01.1980

 

 

Com. Reg. No.:

1010028258, Riyadh

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Supply, installation and maintenance of elevators, escalators and moving walkways.

 

 

No. of Employees :

85

 

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

 

Maximum Credit Limit :

US$ 150,000

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

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                                     : MITSUBISHI ELECTRIC SAUDI LTD

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Limited Liability Company

Registration Date                                   : 28th January 1980

Commercial Registration Number                        : 1010028258, Riyadh

Issued Capital                                        : SR 5,000,000

Paid up Capital                                      : SR 5,000,000

Total Workforce                                     : 85

Activities                                               : Supply, installation and maintenance of elevators, escalators and moving  walkways.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 150,000

Person Interviewed                                 : Khalid Saif, Administration Manager

 

 

 

COMPANY NAME

 

MITSUBISHI ELECTRIC SAUDI LTD

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : Akariyah New Building, Building No. 3

Street               : Salahuddine Street

 

PO Box             : 2391

 

Town                 : Riyadh 11451

Country             : Saudi Arabia

 

Telephone         : (966-1) 4777947 / 2062210

Facsimile          : (966-1) 4777950

Email                : info@melsa.com.sa

 

Premises

 

Subject operates from a medium sized suite of offices that are rented and located in the Central Business Area of Riyadh.

 

Branch Office (s)

 

     Location                                                                                           Description

 

·       Jeddah                                                                                             Office premises

Tel: (966-2) 6505507

 

·       Dammam                                                                                         Office premises

Tel: (966-3) 8336528

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Jiro Kurashima                                                                                  President

 

·       Jameel Al Rahman                                                                            General Manager

 

·       Sam Achalla Barvahtesen                                                                  Operations Manager

 

·       Roberto Genetizo                                                                              Technical Manager

 

·       Khalid Saif                                                                                        Administration Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 11/03/1400 Hijri (corresponding to 28th January 1980)

 

Legal Form                  : Limited Liability Company

 

Commercial Reg. No.  : 1010028258, Riyadh

 

Issued Capital              : SR 5,000,000

 

Paid up Capital            : SR 5,000,000

 

Name of Shareholder (s)

 

·       Omar Kassim Al Esayie Co Ltd

Jeddah

Tel: (966-2) 6440224 / 6445121

 

·       Mitsubishi Electric Corp

Japan

 

 

OPERATIONS

 

Activities: Engaged in the supply, installation and maintenance of elevators, escalators and moving walkways.

 

Import Countries: Europe and Japan

 

Subject has a workforce of 85 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

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 company is considered to be a fair trade risk.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.79

UK Pound

1

Rs.78.79

Euro

1

Rs.65.74

 

 

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.