MIRA
INFORM REPORT
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Report Date : |
15th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
DISTOR TRADING |
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Registered Office : |
Real Estate Department Building, Al Mussalla Street, Al Souq Al Kabir 45125, 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 : |
11th September 2002 |
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Com. Reg. No.: |
92648, Dubai |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of building materials,
hardware, tools and construction equipment. |
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$ 150,000 |
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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 |
DISTOR 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 |
11th September 2002 |
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Commercial Registration Number |
92648, Dubai |
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Trade Licence Number |
537228 |
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Membership Number |
71659 |
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Invested Capital |
UAE Dh 100,000 |
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Total Workforce |
5 |
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Line of Business |
Distributors of building materials, hardware, tools and construction equipment. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
DISTOR TRADING
ADDRESS
Registered & Physical Address
Building : Real Estate Department Building
Street : Al Mussalla Street
Area : Al Souq Al Kabir
PO Box : 45125
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3594563
Facsimile : (971-4) 3594564
Email : distor@emirates.net.ae
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
Adel Ahmed Ali Alwan Proprietor & General Manager
LEGAL FORM & OWNERS
Date of Establishment : 11th September 2002
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 92648, Dubai
Trade Licence No. : 537228 (Expires 1st September 2006)
Membership No. : 71659
Invested Capital : UAE Dh 100,000
Mr Adel Ahmed Ali Alwan 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 building materials, hardware, tools and
construction equipment.
Import Countries : Europe and GCC countries.
Operating Trend : Steady
Subject has a workforce of 5 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 3,600,000 UAE Dh 3,950,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
National Bank of Dubai
Baniyas Street
PO Box : 777
Dubai
Tel : (971-4) 2222241
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
Established in 2002, subject is involved in
the import and distribution of building materials, hardware, tools and
construction equipment.
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 deemed to be within subject’s financial means.
Maximum suggested credit figure: US$ 150,000
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 |