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Report Date : |
19.05.2012 |
IDENTIFICATION DETAILS
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Name : |
SALEH SAAD AL
OTAIBI TRADING EST |
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Formerly Known As : |
SALEH TRADING EST |
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Registered Office : |
Bel Sharaf
Centre, |
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Country : |
Saudi Arab |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
19.04.2004 |
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Com. Reg. No.: |
4030148702, Jeddah |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Distributors of
dried foodstuffs. |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Saudi Arab |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company Name : SALEH SAAD AL OTAIBI TRADING EST
Doing Business As : SALEH TRADING
EST
Country of Origin :
Legal Form :
Sole Proprietorship
Registration Date : 19th
April 2004
Commercial
Registration Number :
4030148702, Jeddah
Chamber Membership
Number : 97929
Invested Capital : SR 70,000
Total Workforce : 5
Activities :
Distributors of dried foodstuffs.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mohamed Mostafa, Sales Manager
SALEH SAAD AL
OTAIBI TRADING EST
DOING
BUSINESS AS: SALEH
TRADING EST
Building : Bel Sharaf Centre
Street : Al Heraj Street
PO Box : 9495
Town : Jeddah 21413
Country : Saudi Arabia
Telephone : (966-2) 6368847 / 6360803
Facsimile : (966-2) 6373830
Email : salehfoodest@yahoo.com
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Jeddah.
Name Position
·
Saleh
Saad Matrik Al Osaimi Al Otaibi Proprietor
& General Manager
·
Mohamed
Mostafa Sales
Manager
Date of Establishment : 29/02/1425
Hijri (corresponding to 19th April 2004)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030148702,
Jeddah
Chamber Member No. : 97929
Invested Capital
: SR 70,000
Mr Saleh Saad
Matrik Al Osaimi Al Otaibi is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
dried foodstuffs, including pulses, soya, beans, lentils and spices.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 5 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 8,500,000 SR 9,150,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
National
Commercial Bank
PO Box: 3555
Jeddah 21481
Tel: (966-2) 6446644
Fax: (966-2) 6446644
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.54.87 |
|
|
1 |
Rs.86.46 |
|
Euro |
1 |
Rs.69.48 |
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 |
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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.