MIRA
INFORM REPORT
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Report Date : |
25th
May 2006 |
IDENTIFICATION
DETAILS
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Name : |
NIDHAL GENERAL TRADING EST |
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Registered Office : |
Cinema
Street 27261,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 : |
18th August 1989 |
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Com. Reg. No.: |
9583, Ajman |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of electrical goods, household items, textiles and general foodstuff products. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
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 |
NIDHAL GENERAL 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 |
18th August 1989 |
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Commercial Registration Number |
9583, Ajman |
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Trade Licence Number |
9583 |
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Membership Number |
9695 |
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Invested Capital |
UAE Dh 100,000 |
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Total Workforce |
14 |
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Line of Business |
Distributors of electrical goods, household items, textiles and general foodstuff products. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
NIDHAL
GENERAL TRADING EST
ADDRESS
Physical
Address
Location : Cinema Street
PO Box : 27261
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5697271
Facsimile : (971-6) 5697271
Premises
Subject
operates from a small suite of offices and a warehouse that are owned and
located in the Central Business Area of Sharjah.
Registered Office
Location : Al Muthala Market
Town : Ajman
Telephone : (971-50) 5470857 / 2119255
KEY PRINCIPALS
Mohamed
Mahmoud Ramadan Proprietor
& General Manager
Malish
Bai Assistant
General Manager
LEGAL FORM & OWNERS
Date
of Establishment : 18th August 1989
Legal
Form : Mouassasa Khassa (Sole
Proprietorship)
Commercial
Reg. No. : 9583, Ajman
Trade
Licence No. : 9583
Membership
No. : 9695
Invested
Capital : UAE Dh 100,000
Mr
Mohamed Mahmoud Ramadan 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.
AFFILIATED COMPANIES
Sydeny
Goldsmith
Al
Marija Area
PO Box :
27261
Sharjah
Tel :
(971-6) 5697271
Fax :
(971-6) 5697271
LINE OF BUSINESS
Operations
: Engaged in the
import and distribution of electrical goods, household items, textiles and
general foodstuff products.
Import
Countries :
Europe and the Far East.
Operating
Trend : Steady
Subject
has a workforce of 14 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 5,170,000 UAE Dh
5,250,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
National
Bank of Sharjah
Al Boorj
Avenue
PO Box :
4
Sharjah
Tel :
(971-6) 5547747
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000:
Established
in 1989, subject is involved in the import and distribution of electrical
goods, household items, textiles and general foodstuff products.
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
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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 |