MIRA INFORM REPORT

 

 

Report Date :

14.03.2012

 

IDENTIFICATION DETAILS

 

Name :

ATHIEER AL KHALEEJ ESTABLISHMENT

 

 

Registered Office :

ARD Building, King Saud Street, Al Khaleej Area, 63045, Dammam 31516

 

 

Country :

Saudi Arabia

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

03.07.2010

 

 

Com. Reg. No.:

2050071540, Dammam

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Engaged in the import and distribution of industrial machinery, construction chemicals and import and distribution of raised flooring, steel wall panels, PVC tiles etc

 

 

No. of Employees :

12

 

 

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

 

 

 

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : ATHIEER AL KHALEEJ ESTABLISHMENT

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Sole Proprietorship

Registration Date                                   : 3rd July 2010

Commercial Registration Number            : 2050071540, Dammam

Chamber Membership Number                : 143707

Invested Capital                                     : SR 40,000

Total Workforce                                     : 12

Activities                                               : Subject operates several divisions (see below for details)

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

 

COMPANY NAME

 

ATHIEER AL KHALEEJ ESTABLISHMENT

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : ARD Building

Street               : King Saud Street

Area                 : Al Khaleej Area

 

PO Box             : 63045

 

Town                 : Dammam 31516

Country             : Saudi Arabia

 

Telephone         : (966-3) 8339987

Facsimile          : (966-3) 8339907

Mobile               : (966-55) 1599263

Email                : sales@athieer.com

 

Premises

 

Subject operates from a small suite of offices and a warehouse that are rented and located in the Industrial Area of Dammam.

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Khalid Musad Ibrahim Al Zahrani                                                         Proprietor & General Manager

 

·       Tariq Fakir                                                                                        Assistant General Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 22/07/1431 Hijri (corresponding to 3rd July 2010)

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.  : 2050071540, Dammam

 

Chamber Member No. : 143707

 

Invested Capital           : SR 40,000

 

Mr Khalid Musad Ibrahim Al Zahrani is the sole proprietor of the business.

 

 

AFFILIATED COMPANIES

 

·       Athieer Al Khaleej General Contracting

PO Box: 63045

Dammam 31516

 

·       Tamaiz Electrical Trading Est

PO Box: 63045

Dammam 31516

 

·       Computer Technology Solution Est

PO Box: 63045

Dammam 31516

 

 

OPERATIONS

 

Activities: Subject’s operations are performed through the following divisions:

 

·       Trading Division

 

Engaged in the import and distribution of industrial machinery, construction chemicals, decorative and industrial paint, plumbing and water sources, plaster and finishing materials, dewatering systems and electric cables, wire and fittings.

 

·       Specialized Supplies Division

 

Engaged in the import and distribution of raised flooring, steel wall panels, PVC tiles, roof tiles, pavement tiles, epoxy flooring , sealants and cubical partitions.

 

Clients:

 

·       Saudi Aramco

·       KJO

·       SABIC

·       SCECO

·       Royal Commission

 

Import Countries: Europe and the Far East.

 

Subject has a workforce of 12 employees.

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Saudi Riyals (SR)

 

                                                            Year Ending 31/12/11:

 

Total Sales                                            SR 9,000,000

 

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

PO Box: 13

Dammam 31411

Tel: (966-3) 8331188

Fax: (966-3) 8336058

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Local sources report that the subject’s operating history is clear with payment obligations met in a generally timely manner. The financial position is satisfactory and the business is deemed a fair trade risk.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.84

UK Pound

1

Rs.77.96

Euro

1

Rs.65.61

 

 

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.