|
Report Date : |
08.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
AL SHAKHS TRADING
EST |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
20.12.1988 |
|
|
|
|
Com. Reg. No.: |
2062006385,
Sihat |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Wholesale and retail of general foodstuffs |
|
|
|
|
No. of Employees : |
18 |
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 |
Company Name : AL SHAKHS TRADING EST
Country of Origin : Saudi
Arabia
Legal Form : Sole
Proprietorship
Registration Date : 20th December 1988
Commercial
Registration Number : 2062006385, Sihat
Chamber Membership
Number : 24041
Invested Capital : SR 50,000
Total Workforce : 18
Activities :
Wholesale and retail of general foodstuffs.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mohamed Mohamed Wafi, Sales
Manager
AL SHAKHS TRADING
EST
Location : Abu Moosa Al Ansari Street (Cross
Mecca Street)
PO Box : 193
Town : Sihat
31972
Country : Saudi Arabia
Telephone : (966-3) 8500168
Facsimile : (966-3) 8561178
Mobile : (966-50) 5865810
Email : ashakhs_est@hotmail.com
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Sihat.
Branch Office
(s)
Location Description
·
King Faisal Street Rented
showroom premises
Dammam
Tel: (966-3) 8260392
Name Position
·
Hashim Abdul Reda Al Shakhs Proprietor
·
Thamer
Hashim Abdul Reda Al Shakhs General
Manager
·
Mohamed Mohamed Wafi Sales
Manager
·
Shehata
Al Shahat Financial
Controller
·
Raju
Shashrout Purchasing
Manager
Date of Establishment : 11/05/1409 Hijri (corresponding to 20th December
1988)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 2062006385, Sihat
Chamber Member No. : 24041
Invested Capital
: SR 50,000
Mr Hashim Abdul Reda Al Shakhs is the sole proprietor
of the business.
Activities: Engaged in the wholesale and retail of general foodstuffs, specialising in Thai
parboiled rice, Indian
basmati and non basmati rice,
cashew nuts, sesame seeds, sugar, vegetable cooking oil, sugar, milk
powder, oil and ghee.
Import
Countries: India and Sri
Lanka
Brand Names: BUKHARY, ALMIZA, AL DEERA, CRIPTAL,
GOLDSTAR, AHLAN and NOOR
Operating Trend: Steady
Subject has a
workforce of 18 employees.
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 11,180,000 SR 11,800,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Arab
National Bank (ANB)
King Street
PO Box: 18
Dammam 31411
Tel: (966-3) 8323440
Fax: (966-3) 8337829
·
Riyad
Bank
Trade Finance Center
PO Box: 2090
Dammam 21431
No complaints
regarding subject’s payments have been reported.
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.53.34 |
|
|
1 |
Rs.86.09 |
|
Euro |
1 |
Rs.69.36 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.