MIRA
INFORM REPORT
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Report Date : |
2nd
November 2006 |
IDENTIFICATION
DETAILS
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Name : |
RASHID INTERNATIONAL TRADING EST |
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Registered Office : |
Alhuda Building, Al Garhoud Road Al Garhoud, 30072 Dubai |
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Country : |
Dubai |
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Financials (as on) : |
31/12/2005 |
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Date of Incorporation : |
5th March 1998 |
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Com. Reg. No.: |
75420, Dubai |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of oilfield and natural gas
equipment, chemicals and related spare parts. |
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 |
RASHID INTERNATIONAL TRADING 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 |
5th March 1998 |
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Commercial Registration Number |
75420, Dubai |
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Trade Licence Number |
504281 |
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Membership Number |
48514 |
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Invested Capital |
UAE Dh 100,000 |
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Total Workforce |
6 |
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Line of Business |
Distributors of oilfield and natural gas equipment, chemicals and related spare parts. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
RASHID INTERNATIONAL TRADING EST
ADDRESS
Registered & Physical Address
Building : Alhuda Building
Street : Al Garhoud Road
Area : Al Garhoud
PO Box : 30072
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2829725
Facsimile : (971-4) 2829723
Email : rte@emirates.net.ae
Premises
Subject operates from a small suite of offices and a warehouse that are rented and located in the Central Business Area of Dubai.
KEY PRINCIPALS
Rashid Hamad Rashid Alghofrani Almarri Proprietor & General Manager
LEGAL FORM & OWNERS
Date of Establishment : 5th March 1998
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 75420, Dubai
Trade Licence No. : 504281 (Expires 1st March 2007)
Membership No. : 48514
Invested Capital : UAE Dh 100,000
Mr Rashid Hamad Rashid Alghofrani Almarri 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 oilfield and natural gas equipment,
chemicals and related spare parts.
Import Countries : Europe and the United States of America.
Operating Trend : Steady
Subject has a workforce of 6 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 4,470,000 UAE Dh 5,000,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Emirates Bank International Ltd
Baniyas Road
PO Box : 2923
Deira
Dubai
Tel : (971-4) 2256256 / 2256900
Fax : (971-4) 2268005 / 2267718
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000
Established in 1998, subject is involved in
the import and distribution of oilfield and natural gas equipment, chemicals
and related spare parts.
sAccording to local sources, subject’s financial condition is satisfactory whilst payments are made in a timely manner. The company’s operating history is reportedly clear 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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