MIRA INFORM REPORT

 

 

Report Date :

02.05.2012

 

IDENTIFICATION DETAILS

 

Name :

TRANS ARAB TRADING SERVICES EST

 

 

Registered Office :

Souq Al Alawi, Makka, Souq Al Bado, 20471, Jeddah 21455

 

 

Country :

Saudi Arabia

 

 

Date of Incorporation :

2004

 

 

Com. Reg. No.:

4030085337, Jeddah

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Distributors of textiles

 

 

No. of Employees :

5

 

 

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

(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                         : TRANS ARAB TRADING SERVICES EST

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Sole Proprietorship

Registration Date                                   : 2004

Commercial Registration Number            : 4030085337, Jeddah

Membership Number                              : 41702

Invested Capital                                     : SR 60,000

Total Workforce                                     : 5

Activities                                               : Distributors of textiles

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

 

 

COMPANY NAME

 

TRANS ARAB TRADING SERVICES EST

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : Souq Al Alawi, Makka, Souq Al Bado

 

PO Box             : 20471

 

Town                 : Jeddah 21455

Country             : Saudi Arabia

 

Telephone         : (966-2) 6457089

Facsimile          : (966-2) 6435786

Mobile               : (966-50) 4622670

Email                : sh77@hotmail.com

 

Premises

 

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

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Salem Al Harbi                                                                                  Proprietor & General Manager

 

·       Navid Shafiq                                                                                      Assistant General Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 2004

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.  : 4030085337, Jeddah

 

Membership No.          : 41702

 

Invested Capital           : SR 60,000

 

Mr Salem Al Harbi is the sole proprietor of the business.

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of textiles.

 

Import Countries: India and China

 

Subject has a workforce of 5 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

 

·       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 business is considered to be a fair trade risk.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.51

UK Pound

1

Rs.85.49

Euro

1

Rs.69.61

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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.