MIRA
INFORM REPORT
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Report Date : |
16th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
AL MEZOON BUILDING MATERIALS & MARBLE EST |
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Registered Office : |
Rolla
Street, Al Shawaheen Area, PO Box : 1357, Sharjah, United Arab Emirates |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
19.01.2000 |
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Com. Reg. No.: |
36686, Sharjah |
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Legal Form : |
Mouassasa
Khassa (Sole Proprietorship) |
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Line of Business : |
Wholesalers and retailers of building materials, marble, granite and tiles. |
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 |
AL MEZOON BUILDING MATERIALS & MARBLE 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 |
19th January 2000 |
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Commercial Registration Number |
36686, Sharjah |
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Trade Licence Number |
506019 |
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Membership Number |
48855 |
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Invested Capital |
UAE Dh 50,000 |
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Total Workforce |
5 |
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Line of Business |
Wholesalers and retailers of building materials, marble, granite and tiles. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
AL
MEZOON BUILDING MATERIALS & MARBLE EST
ADDRESS
Registered & Physical Address
Street : Rolla Street
Area : Al Shawaheen Area
PO Box : 1357
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5527839
Facsimile : (971-6) 5527839
Mobile : (971-50) 4625693
Email : almezoon@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
·
Ashok
Jane Babu Lal Indian
Proprietor & General Manager
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Bader
Abdullah Ahmed Mohamed Al Ali Emirati Local Sponsor
LEGAL FORM & OWNERS
Date of Establishment : 19th January 2000
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 36686, Sharjah
Trade Licence No. : 506019 (Expires 19th September
2007)
Membership No. : 48855
Invested
Capital : UAE Dh 50,000
Mr Ashok
Jane Babu Lal 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
wholesale and retail of building materials, marble, granite and tiles.
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 3,970,000 UAE Dh
4,150,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
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Bank
Saderat Iran
PO Box : 316
Sharjah
Tel : (971-6) 5356290
Fax : (971-6) 5547589
Acc No. 2776253555010
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 owned and managed by Mr Ashok Jane Babu Lal, an Indian
national who operates in Sharjah under the local sponsorship of Mr Bader
Abdullah Ahmed Mohamed Al Ali.
During
the course of this investigation nothing detrimental was uncovered regarding
subject’s operating history or the manner in which payments are fulfilled. As
such the business is considered to be a fair trade risk and the above credit
figure is deemed 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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