MIRA
INFORM REPORT
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Report Date : |
6th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
ABDUL RASOOL FAZEL TRADING |
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Registered Office : |
Essa Omar Bin Haidar Warehouse Al Khabeesi Road, Al Khabeesi Area 3536, Dubai, United Arab Emirates |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31/12/2005 |
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Date of Incorporation : |
14th June 1976 |
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Com. Reg. No.: |
316, Dubai |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and distribution of detergents and
disinfectants. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
SUMMARY
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Company Name |
ABDUL RASOOL FAZEL TRADING |
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Country of Origin |
Dubai, United Arab Emirates |
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Legal Form |
Sole Proprietorship |
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Registration Date |
14th June 1976 |
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Commercial Registration Number |
316, Dubai |
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Trade Licence Number |
201868 |
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Membership Number |
1984 |
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Invested Capital |
UAE Dh 200,000 |
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Total Workforce |
7 |
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Line of Business |
Import and distribution of detergents and disinfectants. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
ABDUL RASOOL FAZEL TRADING
ADDRESS
Registered & Physical Address
Building : Essa Omar Bin Haidar Warehouse
Street : Al Khabeesi Road
Area : Al Khabeesi Area
PO Box : 3536
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2690090
Facsimile : (971-4) 2695741
Premises
Subject operates from a small suite of offices and a warehouse that are rented and located in the Industrial Area of Dubai.
KEY PRINCIPALS
Saeeda Abdul Rasool Fadhil Proprietor & General Manager
LEGAL FORM & OWNERS
Date of Establishment : 14th June 1976
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 316, Dubai
Trade Licence No. : 201868 (Valid until 28/03/2007)
Membership No. : 1984
Invested Capital : UAE Dh 200,000
Mr Saeeda Abdul Rasool Fadhil is the sole proprietor of the business.
Note to the Legal Form
Commonly referred to as an establishment, the Company Law defines Mouassasa Khassa as the business of an individual where liability for all debts is unlimited. The business is the entire responsibility of its proprietor, who is liable for all its debts to the extent of his entire wealth. There are no legal requirements concerning the amount of capital of a sole proprietor.
LINE OF BUSINESS
Operations:
Engaged in the import and distribution of detergents and disinfectants.
Import Countries: Switzerland, Syria and India
Operating Trend : Steady
Subject has a workforce of 7 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : United Arab Emirates Dirham (UAE Dh)
Year Ending 31/12/04 Year Ending 31/12/05
Total Revenue UAE Dh 4,290,000 UAE Dh 4,510,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Mashreq Bank Plc
Deira Branch
PO Box : 1250
Dubai
Tel : (971-4) 2229131 / 2221134
Fax : (971-4) 2233784
Bank of Oman
Main Branch
Dubai
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000
Abdul Rasool Fazel Trading has been in business for approximately 30 years and specialises in the import and distribution of detergents and disinfectants.
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 and the above credit figure is within subject’s financial means.
Maximum suggested credit figure: 175,000
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |