MIRA
INFORM REPORT
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Report Date : |
19th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
AL DIST TRADING EST |
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Registered Office : |
Rahma Bin Matar Albudoor Building, Al Bateen Street, Al Bateen 15629 & 11635, 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 : |
19th April 1993 |
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Com. Reg. No.: |
27965, Dubai |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of ready made garments,
footwear, jewellery, perfumes, cosmetics and toys. |
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 |
AL DIST TRADING EST |
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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 |
19th April 1993 |
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Commercial Registration Number |
27965, Dubai |
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Trade Licence Number |
230732 |
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Membership Number |
26938 |
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Invested Capital |
UAE Dh 100,000 |
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Total Workforce |
6 |
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Line of Business |
Distributors of ready made garments, footwear, jewellery, perfumes, cosmetics and toys. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
AL DIST TRADING EST
ADDRESS
Registered & Physical Address
Building : Rahma Bin Matar Albudoor Building
Street : Al Bateen Street
Area : Al Bateen
PO Box : 15629 & 11635
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2258154 / 2265803
Facsimile : (971-4) 2258169 / 2256904
Premises
Subject operates from a small suite of offices and a showroom that are rented and located in the Central Business Area of Dubai.
KEY PRINCIPALS
Khalid Essa Mohamed Ali Ahli Proprietor & General Manager
LEGAL FORM & OWNERS
Date of Establishment : 19th April 1993
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 27965, Dubai
Trade Licence No. : 230732 (Expires 14th April 2007)
Membership No. : 26938
Invested Capital : UAE Dh 100,000
Mr Khalid Essa Mohamed Ali 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 import and distribution of ready made garments, footwear,
jewellery, perfumes, cosmetics and toys.
Import Countries : Europe and the Far East.
Operating Trend : Steady
Subject has a workforce of 6 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 3,200,000 UAE Dh 3,450,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Habib Bank Ltd
Murshid Bazaar
PO Box : 888
Dubai
Tel : (971-4) 2221281
Fax : (971-4) 2284631
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
Established in 1993, subject is owned and managed by Mr Khalid Essa Mohamed Ali Ahli who is well respected in the local business community.
Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the business is deemed a fair trade risk and the above credit figure is considered 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 |