MIRA INFORM REPORT
|
Report Date : |
12th May 2006 |
IDENTIFICATION DETAILS
|
Name : |
AL
SHAMALI & WARIS TRADING CO LLC |
|
|
|
|
Registered Office : |
Abdur Rahim Mohamed Alali
Building Al Sabkha Street, Al Bateen 27445, Dubai United
Arab Emirates |
|
|
|
|
Date of Incorporation : |
5th
February 1998 |
|
|
|
|
Legal Form : |
Limited
Liability Company - LLC |
|
|
|
|
Line of Business : |
Distributors of light
fixtures and fittings, building materials, hardware, sanitary ware products,
paint and irrigation equipment. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
RATING
|
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 100,000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
SUMMARY
|
Company Name |
AL SHAMALI & WARIS TRADING CO LLC |
|
Country of Origin |
Dubai, United Arab Emirates |
|
Legal Form |
Limited Liability Company - LLC |
|
Registration Date |
5th February 1998 |
|
Trade Licence Number |
503618 |
|
Membership Number |
47941 |
|
Issued Capital |
UAE Dh 300,000 |
|
Paid up Capital |
UAE Dh 300,000 |
|
Total Workforce |
4 |
|
Line of Business |
Distributors of light fixtures and fittings, building materials, hardware, sanitary ware products, paint and irrigation equipment. |
|
Financial Condition |
Fair |
|
Payments |
Nothing detrimental uncovered |
|
Operating Trend |
Steady |
COMPANY NAME
AL SHAMALI & WARIS TRADING CO LLC
ADDRESS
Registered & Physical Address
Building : Abdur Rahim Mohamed Alali Building
Street : Al Sabkha Street
Area : Al Bateen
PO Box : 27445
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2290471
Facsimile : (971-4) 2211744
Email : ashamai@emirates.net.ae
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
Name Nationality Position
Mohamed Hassan Abdulwaris Bangladeshi Managing Director
LEGAL FORM & OWNERS
Date of Establishment : 5th February 1998
Legal Form : Sharikat Thet Massouliya Mahdoudeh (Limited
Liability Company - LLC)
Trade Licence No. : 503618 (Expires 25th January 2007)
Membership No. : 47941
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
Al Shamali & Waris Trading Co LLC 100%
PO Box : 24423
Sharjah
Tel : (971-6) 5610020
Fax : (971-6) 5610041
LINE OF BUSINESS
Operations : Engaged in the import and distribution
of light fixtures and fittings, building materials, hardware, sanitary ware
products, paint and irrigation equipment.
Import Countries : Europe and the Far East.
Operating Trend : Steady
Subject has a workforce of 4 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 3,240,000 UAE Dh 3,680,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Commercial Bank of Dubai
Baniyas Street
PO Box : 1709
Deira
Dubai
Tel : (971-4) 2227121 / 2253222
Fax : (971-4) 2220943 / 2254565
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 1998, subject is involved in the import and
distribution of light fixtures and fittings, building materials, hardware,
sanitary ware products, paint and irrigation equipment.
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$ 100,000
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 |