MIRA INFORM REPORT
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Report Date : |
23rd May 2006 |
IDENTIFICATION DETAILS
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Name : |
FAKHRUDDIN
IBRAHIM AL HINDI EST |
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Registered Office : |
Abdullah Qambar Alawadhi
Building Al Bateen Street, 1299 Dubai,
United Arab Emirates |
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Date of Incorporation : |
3rd
April 1996 |
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Com. Reg. No.: |
28053,
Sharjah |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Engaged
in the import and distribution of bags, stationery, perfumes, cosmetics, toys and novelty items |
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 : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
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Company Name |
FAKHRUDDIN IBRAHIM AL HINDI 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 |
3rd April 1996 |
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Commercial Registration Number |
28053, Sharjah |
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Trade Licence Number |
120322 |
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Membership Number |
37554 |
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Invested Capital |
UAE Dh 100,000 |
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Total Workforce |
20 |
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Line of Business |
Distributors of bags, stationery, perfumes, cosmetics, toys and novelty items. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
FAKHRUDDIN IBRAHIM AL HINDI EST
ADDRESS
Registered & Physical Address
Building : Abdullah Qambar Alawadhi Building
Street : Al Bateen Street
PO Box : 1299
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2269911 / 2352790
Facsimile : (971-4) 2255438 / 2352791
Premises
Subject operates from a medium sized suite of offices and a showroom that are rented and located in the Central Business Area of Dubai.
Branch Offices
Location Description
Al Gowair Area Showroom premises
PO Box : 28041
Sharjah
Tel : (971-6) 5631471
KEY PRINCIPALS
Fakruddin Ibrahim Al Hindi Proprietor & General Manager
Yousef Hameed Assistant General Manager
LEGAL FORM & OWNERS
Date of Establishment : 3rd April 1996
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 28053, Sharjah
Trade Licence No. : 120322 (Expires 30th March 2007)
Membership No. : 37554
Invested Capital : UAE Dh 100,000
Mr Fakruddin Ibrahim Al Hindi 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 bags, stationery, perfumes, cosmetics,
toys and novelty items.
Import Countries : Europe and the Far East.
Operating Trend : Steady
Subject has a workforce of 20 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 4,800,000 UAE Dh 5,060,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
HSBC Bank Middle East
Deira Souk Branch
PO Box : 66
Dubai
Tel : (971-4) 2535000
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 1996, subject is involved in the import and distribution of bags, stationery, perfumes, cosmetics, toys and novelty items.
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 |