MIRA INFORM REPORT
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Report Date : |
16th May 2006 |
IDENTIFICATION DETAILS
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Name : |
AHMED
ABDULLA MOHAMED TRADING |
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Registered Office : |
Sons
of Abdulla Bin Dhabooy Building Sikkat
Al Khail Street, Al Bateen 3445,
Dubai United Arab Emirates |
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Date of Incorporation : |
7th
September 2002 |
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Com. Reg. No.: |
92706,
Dubai |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Distributors of ready made
garments, luggage, jewellery,
perfumes, cosmetics and sunglasses. |
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 |
AHMED ABDULLA MOHAMED TRADING |
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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 |
7th September 2002 |
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Commercial Registration Number |
92706, Dubai |
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Trade Licence Number |
537347 |
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Membership Number |
71522 |
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Invested Capital |
UAE Dh 150,000 |
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Total Workforce |
4 |
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Line of Business |
Distributors of ready made garments, luggage, jewellery, perfumes, cosmetics and sunglasses. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
AHMED ABDULLA
MOHAMED TRADING
ADDRESS
Registered &
Physical Address
Building : Sons of Abdulla Bin Dhabooy Building
Street : Sikkat Al Khail Street
Area : Al Bateen
PO Box : 3445
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2264211
Facsimile : (971-4) 2265825
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Branch Office
(s)
Location Description
Murshid Bazaar Rented
showroom premises
Deira
PO Box: 44982
Dubai
KEY PRINCIPALS
Ahmed Abdulla
Mohamed Hassan Abdulla Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of
Establishment : 7th September 2002
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg.
No. : 92706, Dubai
Trade Licence
No. : 537347 (Expires 6th September
2006)
Membership No. : 71522
Invested Capital
: UAE Dh 150,000
Mr Ahmed Abdulla
Mohamed Hassan Abdulla 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, luggage, jewellery, perfumes, cosmetics and sunglasses.
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 4,190,000 UAE Dh 4,350,000
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$ 150,000:
Established in
2002, subject is owned and managed by Mr Ahmed Abdulla Mohamed Hassan Abdulla
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$ 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 |