MIRA
INFORM REPORT
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Report Date : |
15th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
ALI HATEM AHLI MACHINERY REPAIRING |
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Registered Office : |
Khamis
Juma Almuhairi Building Al
Qusais Street, 56856 & 52381 Dubai,
United Arab Emirates |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
12th November 2005 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Maintainers and repairers of engines and
heavy duty machinery |
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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Maximum Credit Limit : |
US$
50,000 |
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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 |
ALI HATEM AHLI MACHINERY REPAIRING |
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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 |
12th November 2005 |
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Trade Licence Number |
126798 |
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Membership Number |
102280 |
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Invested Capital |
UAE Dh 500,000 |
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Total Workforce |
11 |
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Line of Business |
Maintainers and repairers of engines and heavy duty machinery. |
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Financial Condition |
Undetermined |
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Payments |
Nothing detrimental uncovered |
COMPANY NAME
ALI
HATEM AHLI MACHINERY REPAIRING
ADDRESS
Registered
& Physical Address
Building : Khamis Juma Almuhairi Building
Street : Al Qusais Street
PO Box : 56856 & 52381
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2673256
Facsimile : (971-4) 2673257
Premises
Subject
operates from a small suite of offices and a warehouse that are rented and
located in the Central Business Area of Dubai.
KEY PRINCIPALS
Ali
Hatem Mohamed Mulla Ahli Proprietor
& General Manager
LEGAL FORM & OWNERS
Date
of Establishment : 12th November 2005
Legal
Form : Mouassasa Khassa (Sole
Proprietorship)
Trade
Licence No. : 126798 (Expires 29th
December 2006)
Membership
No. : 102280
Invested
Capital : UAE Dh 500,000
Mr Ali
Hatem Mohamed Mulla Ahli 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
maintenance and repair of engines and heavy duty machinery.
Subject
has a workforce of 11 employees.
FINANCIAL HIGHLIGHTS
Subject
is a newly formed business and as a result financial information is not
currently available.
BANKERS
Emirates
Bank International Ltd
Baniyas
Road
PO Box :
2923
Deira
Dubai
Tel :
(971-4) 2256256 / 2256900
Fax :
(971-4) 2268005 / 2267718
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000:
Investigations
undertaken in Dubai did not reveal any sign of payment defaults or delays
during initial trading stages, and subject is believed to meet its payment
obligations in a timely manner, nevertheless, and in view of the company’s
infancy and the lack of a more consistent payment and financial record, a
measure of caution is advisable and a close monitoring of subject’s business
development is recommended.
Maximum
suggested credit figure: US$ 50,000
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 |