MIRA INFORM REPORT

 

 

Report Date :

04.05.2012

 

IDENTIFICATION DETAILS

 

Name :

QAWAFEL AL MIKBILY FOR TRADING EST

 

 

Registered Office :

Exit 24, South Ring Road, Shubra District, PO Box 26558, Riyadh 11496

 

 

Country :

Saudi Arabia

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

23.03.2010

 

 

Com. Reg. No.:

1010284776

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Subject operates several divisions

 

 

No. of Employees :

65

 

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                                     : QAWAFEL AL MIKBILY FOR TRADING EST

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Sole Proprietorship

Registration Date                                   : 23rd March 2010

Commercial Registration Number            : 1010284776, Riyadh

Chamber Membership Number                : 229867

Invested Capital                                     : SR 250,000

Total Workforce                                     : 65

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

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Person Interviewed                                 : Tohami Abu Islam, Financial Controller

 

 

 

COMPANY NAME

 

QAWAFEL AL MIKBILY FOR TRADING EST

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : Exit 24, South Ring Road

Area                 : Shubra District

 

PO Box             : 26558

 

Town                 : Riyadh 11496

Country             : Saudi Arabia

 

Telephone         : (966-1) 4269658

Facsimile          : (966-1) 4269658

Mobile               : (966-50) 3417084 / (966-54) 3000228

Email                : almoqbli1430@gmail.com

 

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

 

Souq Nahdi                                                                                           Supermarket

Sabt Al Alaya Area

Riyadh

Tel: (966-1) 4382362

 

Al Mansouri District                                                                           Showroom premises

Riyadh

Tel: (966-1) 4475680

 

 

KEY PRINCIPALS

 

            Name                                                                                       Position

 

Rayhanah Abdulaziz Ali Al Harthi                                                                        Proprietor

 

Saleh Yahya Al Zahrani                                                                          General Manager

 

Tohami Abu Islam                                                                                  Financial Controller

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 08/04/1431 Hijri (corresponding to 23rd March 2010)

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.  : 1010284776, Riyadh

 

Chamber Member No. : 229867

 

Invested Capital           : SR 250,000

 

Mrs Rayhanah Abdulaziz Ali Al Harthi is the sole proprietor of the business.

 

 

OPERATIONS

 

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

 

Foodstuff Division

 

Engaged in the wholesale and retail of general foodstuffs and grocery items.

 

Supermarket Division

 

Operators of a supermarket.

 

Transport Division

 

Operators of a fleet of mini buses to transport school and college students.

 

Import Countries: Europe and the Far East.

 

Subject has a workforce of 65 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Saudi Riyals (SR)

 

                                                            Year Ending 31/12/11:

 

Total Sales                                                        SR 12,000,000

 

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

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.53.23

UK Pound

1

Rs.86.14

Euro

1

Rs.69.98

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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.