MIRA
INFORM REPORT
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Report Date : |
2nd
November 2006 |
IDENTIFICATION
DETAILS
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Name : |
AL REEM STAR TRADING |
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Registered Office : |
Heirs
of Abdullah Mohamed Albadri Building, Suite 116 Naif
Street, Naif 103637,
Dubai 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 : |
22nd September 2003 |
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Com. Reg. No.: |
98562, Dubai |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of ready made garments,
footwear, jewellery, perfumes, cosmetics and toys. |
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 : |
Usually
Correct |
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Litigation : |
Clear |
SUMMARY
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Company Name |
AL REEM STAR 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 |
22nd September 2003 |
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Commercial Registration Number |
98562, Dubai |
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Trade Licence Number |
549022 |
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Membership Number |
81067 |
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Invested Capital |
UAE Dh 100,000 |
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Total Workforce |
4 |
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Line of Business |
Distributors of ready made garments, footwear, jewellery, perfumes, cosmetics and toys. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
AL REEM
STAR TRADING
ADDRESS
Registered
& Physical Address
Building : Heirs of Abdullah Mohamed Albadri
Building, Suite 116
Street : Naif Street
Area : Naif
PO Box : 103637
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2219913
Facsimile : (971-4) 2219914
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
Hind
Darwish Lashkari Salmin Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 22nd
September 2003
Legal Form :
Mouassasa Khassa
(Sole Proprietorship)
Commercial Reg. No. : 98562, Dubai
Trade Licence No. : 549022 (Expires 15th
September 2007)
Membership No. : 81067
Invested Capital : UAE Dh 100,000
Mr Hind
Darwish Lashkari Salmin 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, footwear,
jewellery, perfumes, cosmetics and toys.
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 3,180,000 UAE Dh
3,475,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
Dubai
Islamic Bank
PO Box :
1080
Dubai
Tel :
(971-4) 2953000
Fax :
(971-4) 2954111
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000
Established
in 2003, subject is owned and managed by Mr Hind Darwish Lashkari Salmin who is
well respected in the local business community.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the business is deemed a fair trade risk
and the above credit figure is considered 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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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