MIRA
INFORM REPORT
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Report Date : |
8th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
ROYAL
TOP TRADING |
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Registered Office : |
Saif
Al Rashid Building, Al Suq Street, Al Suq Al Kabir, PO Box : 43012, Dubai,
United Arab Emirates |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
14.06.2003 |
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Com. Reg. No.: |
97130, Dubai |
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Legal Form : |
Mouassasa
Khassa (Sole Proprietorship) |
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Line of Business : |
Distributors of ready made garments, footwear, jewellery, watches, perfumes and cosmetics. |
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$
100,000 |
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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 |
ROYAL TOP 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 |
14th June 2003 |
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Commercial Registration Number |
97130, Dubai |
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Trade Licence Number |
546008 |
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Membership Number |
78405 |
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Invested Capital |
UAE Dh 150,000 |
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Total Workforce |
4 |
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Line of Business |
Distributors of ready made garments, footwear, jewellery, watches, perfumes and cosmetics. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
ROYAL
TOP TRADING
ADDRESS
Registered & Physical
Address
Building : Saif Al Rashid Building
Street : Al Suq Street
Area : Al Suq Al Kabir
PO Box : 43012
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3935376
Facsimile : (971-4) 3935363
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
·
Abdullah
Mousa Ibrahim Ahmed Al Mazam Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 14th June 2003
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 97130, Dubai
Trade Licence No. : 546008 (Expires 10th June 2007)
Membership No. : 78405
Invested
Capital : UAE Dh 150,000
Mr
Abdullah Mousa Ibrahim Ahmed Al Mazam 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, watches,
perfumes and cosmetics.
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 3,080,000 UAE Dh
3,410,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
National
Bank of Dubai
Baniyas Street
PO Box : 777
Dubai
Tel : (971-4) 2222241
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 Abdullah Mousa Ibrahim Ahmed Al
Mazam 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 company is deemed a fair trade
risk.
Maximum
suggested credit figure: US$ 100,000
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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