MIRA
INFORM REPORT
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Report Date : |
8th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
FAIR
DEAL MARBLE & GRANITE TRADING EST |
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Registered Office : |
Industrial
Area No. 15, PO Box : 47578 & 5072, Sharjah, United Arab Emirates |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
11.12.1999 |
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Com. Reg. No.: |
35189, Sharjah |
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Legal Form : |
Mouassasa
Khassa (Sole Proprietorship) |
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Line of Business : |
Importer and Distributors of marble and granite. |
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 |
FAIR DEAL MARBLES & GRANITE 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 |
11th December 1999 |
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Commercial Registration Number |
35189, Sharjah |
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Trade Licence Number |
503639 |
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Membership Number |
47396 |
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Invested Capital |
UAE Dh 200,000 |
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Total Workforce |
5 |
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Line of Business |
Distributors of marble and granite. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
FAIR
DEAL MARBLES & GRANITE TRADING EST
ADDRESS
Registered & Physical Address
Location : Industrial Area No. 15
PO Box : 47578 & 5072
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5650880
Facsimile : (971-6) 5650880
Premises
Subject
operates from a small suite of offices and a warehouse that are rented and
located in the Industrial Area of Sharjah.
KEY PRINCIPALS
Name Nationality Position
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Rankajt
Kumar Bajaj Indian Proprietor & General Manager
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Walid
Shamlan Mohamed Al Shamlan Emirati
Local Sponsor
LEGAL FORM & OWNERS
Date of Establishment : 11th December 1999
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 35189, Sharjah
Trade Licence No. : 503639 (Expires 11th December
2006)
Membership No. : 47396
Invested
Capital : UAE Dh 200,000
Mr
Rankajt Kumar Bajaj 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 marble and granite.
Import
Countries : Spain and Italy.
Operating
Trend : Steady
Subject
has a workforce of 5 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 3,870,000 UAE Dh
4,160,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
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Abu
Dhabi Commercial Bank
Mina Road
PO Box : 4377
Sharjah
Tel : (971-6) 5737000
Fax : (971-6) 5725331
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000:
Established
in 1999, subject is owned and managed by Mr Rankajt Kumar Bajaj, an Indian
national who operates in Sharjah under the local sponsorship of Mr Walid
Shamlan Mohamed Al Shamlan.
Local
sources report that payment obligations are met in a generally timely manner
and the operating history is clear. As such the company 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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