MIRA INFORM REPORT
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Report Date : |
4th May 2006 |
IDENTIFICATION DETAILS
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Name : |
KHALFAN
AL ZAABI TRADING ESTABLISHMENT |
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Registered Office : |
Mohamed
Abdulla Almansoury Building Khalifa
Bin Zayed Street 44370,
Abu Dhabi United Arab Emirates |
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Date of Incorporation : |
5th June 1990 |
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Com. Reg. No.: |
14318, Abu Dhabi |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of electrical
wiring, adaptors, cables and PVC. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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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 |
KHALFAN AL ZAABI TRADING ESTABLISHMENT |
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Country of Origin |
Abu Dhabi, United Arab Emirates |
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Legal Form |
Sole Proprietorship |
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Registration Date |
5th June 1990 |
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Commercial Registration Number |
14318, Abu Dhabi |
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Trade Licence Number |
33071 |
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Membership Number |
12810 |
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Invested Capital |
UAE Dh 150,000 |
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Total Workforce |
8 |
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Line of Business |
Distributors of electrical wiring, adaptors, cables and PVC. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
KHALFAN AL ZAABI
TRADING ESTABLISHMENT
ADDRESS
Registered &
Physical Address
Building : Mohamed Abdulla Almansoury Building
Street : Khalifa Bin Zayed Street
PO Box : 44370
Town : Abu Dhabi
Country : United Arab Emirates
Telephone : (971-2) 6794246
Facsimile : (971-2) 6794640
Email : kaztrade@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 Abu Dhabi.
KEY PRINCIPALS
Mohamed Khalfan Al
Zaabi Proprietor
& General Manager
Chacko Ommen Assistant
General Manager
LEGAL FORM & OWNERS
Date of
Establishment : 5th June 1990
Legal Form : Sole Proprietorship
Commercial Reg.
No. : 14318, Abu Dhabi
Trade Licence
No. : 33071 (Expires 12th September
2006)
Membership No. : 12810
Invested Capital
: UAE Dh 150,000
Mr Mohamed Khalfan
Al Zaabi 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 wiring, adaptors, cables and PVC.
Import Countries
: Europe and India.
International
Suppliers :
Al Azzi Plastic India
Hex Ltd India
Operating Trend
: Steady
Subject has a
workforce of 8 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 4,280,000 UAE Dh 4,500,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
HSBC Bank Middle
East
PO Box : 242
Abu Dhabi
Tel : (971-2)
8004440 / 6147259
Fax : (971-2) 6331564
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 15,000,000
Established in
1990, subject is owned and managed by Mr Mohamed Khalfan Al Zaabi who is well
respected in the local business community.
According to local
sources subject is making steady progress in the local business market and
nothing detrimental has been reported regarding the manner in which payments
are fulfilled. As such the business is considered to be a fair trade risk.
The above credit
figure is higher than transactions previously seen and a measure of caution
would be prudent.
Maximum suggested
credit figure: US$ 150,000
RATING EXPLANATIONS
RATING
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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 |