MIRA INFORM REPORT
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Report Date : |
17.11.2006 |
IDENTIFICATION DETAILS
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Name : |
MILKY
VALLEY TRADING EST |
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Registered Office : |
Sharaf
Salman Ali Building, Ali Ibn Ali Talib Street, Al Souq Al Kabir, P. O. Box
43459, Dubai, United Arab Emirates |
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Date of Incorporation : |
28th
July 2002 |
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Com. Reg. No.: |
92068 |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Engaged
in the import, distribution and retail of ready made garments and textiles,
perfumes and cosmetics, agarwood and incense, imitation jewellery and
giftware, novelties, toys and games, suitcases and travel requisites. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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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$
80,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : MILKY VALLEY TRADING EST
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 28th July 2002
Commercial Registration Number : 92068, Dubai
Trade Licence Number : 536136
Membership Number : 70693
Invested Capital : UAE Dh 250,000
Total Workforce : 5
Line of Business : Distributors of ready made garments,
textiles, jewellery, cosmetics, toys and
luggage.
Financial Condition : Satisfactory
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
MILKY VALLEY TRADING EST
ADDRESS
Registered & Physical Address
Building : Sharaf Salman Ali Building
Street : Ali Ibn Ali Talib Street
Area : Al Souq Al Kabir
PO Box : 43459
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3523661 / 3523667
Facsimile : (971-4) 5140408
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
·
Hussain
Darwish Abbas Hussain Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 28th
July 2002
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 92068,
Dubai
Trade License No. : 536136
(Expires 22nd July 2005)
Membership No. :
70693
Invested Capital
: UAE Dh 250,000
Mr Hussain Darwish
Abbas Hussain 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.
AFFILIATED COMPANIES
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Pink Tower
Trading Est
Sharaf Salman Ali Building
Ali Ibn Ali Talib Street
Al Souq Al Kabir
PO Box : 43459
Dubai
Tel : (971-4) 3523661 / 3523667
Fax : (971-4) 5140408
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Pink Planet
Trading LLC
Sharaf Salman Ali Building
Ali Ibn Ali Talib Street
Al Souq Al Kabir
PO Box : 43459
Dubai
Tel : (971-4) 3523661 / 3523667
Fax : (971-4) 5140408
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All View
Trading Est
Sharaf Salman Ali Building
Ali Ibn Abi Talib Street
Al Souq Al Kabir
PO Box: 43459
Dubai
Tel: (971-4) 3535418
Fax: (971-4) 3535420
Email: allview@emirates.net.ae
·
Al Badawi
Electrical Supply Co LLC
Royal House
Al Wuheida Street
Hor Al Anz Area
PO Box: 1143
Dubai
Tel: (971-4) 2620624
Fax: (971-4) 2620699
Email: mazenbas@emirates.net.ae
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Tiny World Overseas
LLC
Sayed Sharaf Salman Ali
Building
Al Falah Street
Al Souq Al Kabir
PO Box: 44418
Dubai
LINE OF BUSINESS
Operations
Engaged in the
import, distribution and retail of ready made garments and textiles, perfumes
and cosmetics, agarwood and incense, imitation jewellery and giftware,
novelties, toys and games, suitcases and travel requisites.
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 31/12/03: Year Ending
31/12/04:
Total Revenue UAE Dh
1,720,000 UAE Dh
3,000,000
Local sources consider subject’s financial condition to be Satisfactory.
BANKERS
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Habib Bank Ltd
Murshid Bazaar
PO Box : 50358
Dubai
Tel : (971-4) 2221281
Fax : (971-4) 2284631
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 15,000,000:
Milky Valley
Trading Est is a relatively new business with operations commencing in July
2002. It is engaged in the import, distribution and retail of ready made
garments and textiles, perfumes and cosmetics, agarwood and incense, imitation
jewellery and giftware, novelties, toys and games, suitcases and travel
requisites.
According to local
sources subject is making steady progress in the local business market and
nothing detrimental has been reported regarding the manner in which payments
are fulfilled. As such the business is considered to be a fair trade risk.
Maximum suggested
credit figure: US$ 80,000
RATING EXPLANATIONS
RATING
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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 |