MIRA
INFORM REPORT
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Report Date : |
8th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
BALI
TRADING |
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Registered Office : |
Al
Qassimia Area, PO Box : 21179 & 19904, Sharjah, United Arab Emirates |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
17.01.2000 |
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Com. Reg. No.: |
25352, Sharjah |
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Legal Form : |
Mouassasa
Khassa (Sole Proprietorship) |
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Line of Business : |
Importer
and Distributor of ready made garments, including T- shirts, trousers and
uniforms. |
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 |
BALI TRADING |
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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 |
17th January 2000 |
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Commercial Registration Number |
25352, Sharjah |
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Trade Licence Number |
503637 |
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Membership Number |
46795 |
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Invested Capital |
UAE Dh 250,000 |
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Total Workforce |
5 |
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Line of Business |
Distributors of ready made garments. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
BALI
TRADING
ADDRESS
Registered & Physical
Address
Location : Al Qassimia Area
PO Box : 21179 & 19904
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 7438127 / 5745948
Facsimile : (971-6) 7438137 / 5745945
Mobile : (971-50) 3025408
Email : tradingbali@yahoo.com
Premises
Subject
operates from a small suite of offices and a warehouse that are rented and
located in the Central Business Area of Sharjah.
KEY PRINCIPALS
Name Nationality Position
·
Rohitaaz
Kumar Karmjit Indian Proprietor & General Manager
·
Mohamed
Abdelrahman Sharif Emirati Local Sponsor
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Sunny
Kumar - Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 17th January 2000
History : Subject commenced operations in
2000 under the name “Goyal
Trading” however in 2005 it re-registered
under the current style of
“Bali Trading”.
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 25352, Sharjah
Trade Licence No. : 503637 (Expires 13th January
2007)
Membership No. : 46795
Invested
Capital : UAE Dh 250,000
Mr
Rohitaaz Kumar Karmjit 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, including T-
shirts, trousers and uniforms.
Import
Countries :
Europe and the Far East.
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 7,400,000 UAE Dh
7,900,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Habib
Bank AG Zurich
Immigration Road
PO Box : 1166
Sharjah
Tel : (971-6) 5730004
Acc No. 02020820311105352355
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000:
Established
in 2000, subject is involved in the import and distribution of ready made
garments, including T-shirts, trousers and uniforms.
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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