MIRA
INFORM REPORT
|
Report Date : |
15th
June 2006 |
IDENTIFICATION
DETAILS
|
Name : |
DUBAI AL AHLIA QUICK TRANSPORT EST |
|
|
|
|
Registered Office : |
Ali Ahmed Bin Huwaidi Building,Ras Al
Khor Road, Ras Al Khor Industrial Area, 13408, Dubai, United Arab Emirates |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Financials (as on) : |
31/12/2005 |
|
|
|
|
Date of Incorporation : |
7th March 1988 |
|
|
|
|
Com. Reg. No.: |
8633, Dubai |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Transporters of heavy cargo. |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
US$ 250,000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular
|
|
|
|
|
Litigation : |
Clear |
SUMMARY
|
Company Name |
DUBAI AL AHLIA QUICK TRANSPORT EST |
|
Country of Origin |
Dubai, United Arab Emirates |
|
Legal Form |
Sole Proprietorship |
|
Registration Date |
7th March 1988 |
|
Commercial Registration Number |
8633, Dubai |
|
Trade Licence Number |
20901 |
|
Membership Number |
3376 |
|
Invested Capital |
UAE Dh 1,000,000 |
|
Total Workforce |
30 |
|
Line of Business |
Transporters of heavy cargo. |
|
Financial Condition |
Air |
|
Payments |
Nothing detrimental uncovered |
|
Operating Trend |
Steady |
COMPANY NAME
DUBAI AL AHLIA QUICK TRANSPORT EST
ADDRESS
Registered & Physical Address
Building : Ali Ahmed Bin Huwaidi Building
Street : Ras Al Khor Road
Area : Ras Al Khor Industrial Area
PO Box : 13408
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3337722 / 3332346
Facsimile : (971-4) 3332119 / 3333820
Email : dxbahlia@emirates.net.ae
Premises
Subject operates from a medium sized suite of offices and a warehouse that are owned and located in the Industrial Area of Dubai.
KEY PRINCIPALS
Ali Ahmed Hamad Bin Huwaidi Proprietor & General Manager
LEGAL FORM & OWNERS
Date of Establishment : 27th March 1988
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 18633, Dubai
Trade Licence No. : 220901 (Expires 2nd October 2006)
Membership No. : 13376
Invested Capital : UAE Dh 1,000,000
Mr Ali Ahmed Hamad Bin Huwaidi 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 transportation of heavy cargo.
Operating Trend : Steady
Subject has a workforce of 130 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 21,000,000 UAE Dh 22,670,000
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 1988, subject is owned and managed by Mr Ali Ahmed Hamad Bin Huwaidi who is well respected in the local business community.
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$ 250,000
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |