MIRA
INFORM REPORT
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Report Date : |
22nd
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
HAREB
AL NOOBI TRADING |
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Registered Office : |
Mustafa
Bin Abdullatif Building, Ground Floor, Al Rifaa Street, Al Suq Al Kabir, PO
Box : 60068, Dubai, United Arab Emirates. |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
19.04.1995 |
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Com. Reg. No.: |
33525, Dubai |
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Legal Form : |
Mouassasa
Khassa (Sole Proprietorship) |
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Line of Business : |
Importer
and Distributors of hardware, tools, building
materials, paint and varnish. |
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 : |
Usually
Correct |
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Litigation : |
Clear |
SUMMARY
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Company Name |
HAREB AL NOOBI 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 |
19th April 1995 |
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Commercial Registration Number |
33525, Dubai |
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Trade Licence Number |
237465 |
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Membership Number |
33861 |
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Invested Capital |
UAE Dh 150,000 |
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Total Workforce |
3 |
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Line of Business |
Distributors of hardware, tools, building materials, paint and varnish. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
HAREB AL
NOOBI TRADING
ADDRESS
Registered & Physical Address
Building : Mustafa Bin Abdullatif Building,
Ground Floor
Street : Al Rifaa Street
Area : Al Suq Al Kabir
PO Box : 60068
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3933851
Facsimile : (971-4) 3933719
Premises
Subject
operates from a small suite of offices and a warehouse that are rented and
located in the Central Business Area of Dubai.
KEY PRINCIPALS
·
Hareb
Johar Al Noobi Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 19th April 1995
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 33525, Dubai
Trade Licence No. : 237465 (Expires 17th April 2007)
Membership No. : 33861
Invested
Capital : UAE Dh 150,000
Mr Hareb
Johar Al Noobi 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 hardware, tools, building materials, paint and
varnish.
Import
Countries :
Europe and the Far East.
Operating
Trend : Steady
Subject
has a workforce of 3 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 4,160,000 UAE Dh 4,250,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Emirates
Bank International Ltd
Baniyas Road
PO Box : 2923
Deira
Dubai
Tel :
(971-4) 2256256 / 2256900
Fax :
(971-4) 2268005 / 2267718
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000
Established
in 1995, subject is involved in the import and distribution of hardware, tools,
building materials, paint and varnish.
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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