MIRA
INFORM REPORT
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Report Date : |
29th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
AL JALAL ELECTRICAL TRADING EST |
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Registered Office : |
Industrial Area No. 6, 2044, Sharjah,
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 : |
1st September 1975 |
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Com. Reg. No.: |
817, Sharjah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of electrical installation
materials. |
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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Maximum Credit Limit : |
US$ 350,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
SUMMARY
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Company Name |
AL JALAL ELECTRICAL TRADING EST |
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Country of Origin |
Sharjah, United Arab Emirates |
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Legal Form |
Sole Proprietorship |
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Registration Date |
1st September 1975 |
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Commercial Registration Number |
817, Sharjah |
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Trade Licence Number |
11592 |
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Membership Number |
1736 |
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Invested Capital |
UAE Dh 250,000 |
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Total Workforce |
75 |
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Line of Business |
Distributors of electrical installation materials. |
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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 JALAL ELECTRICAL TRADING EST
ADDRESS
Registered & Physical Address
Location : Industrial Area No. 6
PO Box : 2044
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5389953
Facsimile : (971-6) 5389951
Email : aljalal@emirates.net.ae
Premises
Subject operates from a medium sized suite of offices and a warehouse that are rented and located in the Industrial Area of Sharjah.
Branch Office (s)
Location Description
Abu Dhabi Showroom premises
Tel: (971-2) 6768720
Fax: (971-2) 6768380
Al Ain Showroom premises
Tel: (971-3) 7219022
Fax: (971-3) 7219033
Dubai Showroom premises
Tel: (971-4) 2269080
Fax: (971-4) 2256621
Ras Al Khamiah Showroom premises
Tel: (971-7) 2335656
Fax: (971-7) 2336050
KEY PRINCIPALS
Name Nationality Position
Jalal Abdul Hakam Mostafa Al Noubani Jordanian Proprietor & General Manager
Abdul Raouf Abdul Ghani Mohamed Emirati Local Sponsor
Maha Noubani Jordanian Assistant General Manager
LEGAL FORM & OWNERS
Date of Establishment : 1st September 1975
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 817, Sharjah
Trade Licence No. : 11592 (Expires 26th August 2006)
Membership No. : 1736
Invested Capital : UAE Dh 250,000
Mr Jalal Abdul Hakam Mostafa Al Noubani 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 electrical installation materials.
Import Countries : United Kingdom, Germany, Italy and Japan.
International Suppliers :
Fitzgerald United Kingdom
Dorman Smith United Kingdom
Marshall Tufflex United Kingdom
MEM United Kingdom
GCI United Kingdom
Efen Germany
Capital Japan Japan
Mitsubishi Japan
Operating Trend : Steady
Subject has a workforce of 75 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 38,200,000 UAE Dh 40,000,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Standard Chartered Bank
Al Boorj Avenue
PO Box : 5
Sharjah
Tel : (971-6) 5357788
Fax : (971-6) 5543604
Emirates Bank International Ltd
Immigration Road
PO Box : 25090
Sharjah
Tel : (971-6) 5733300
Fax : (971-6) 5730077
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1975, subject is owned and managed by Mr Jalal Abdul Hakam Mostafa Al Noubani, a Jordanian national who operates in Sharjah under the local sponsorship of Mr Abdul Raouf Abdul Ghani Mohamed.
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.
Maximum suggested credit figure: US$ 350,000
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 |