MIRA
INFORM REPORT
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Report Date : |
22nd
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
MESSARA
TRADING COMPANY LIMITED |
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Registered Office : |
Industrial
Area No. 4, PO Box: 22478, Sharjah, United Arab Emirates |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
05.04.1989 |
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Com. Reg. No.: |
18489, Sharjah |
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Legal Form : |
Limited
Liability Company |
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Line of Business : |
Importer
and Distributors of soft furnishings, carpets, rugs
and other floor coverings. Subject also acts as designers and installers of contract carpets. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$
250,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
SUMMARY
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Company Name |
MESSARA TRADING CO LTD |
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Country of Origin |
Sharjah, United Arab Emirates |
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Legal Form |
Limited Liability Company |
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Registration Date |
5th April 1989 |
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Commercial Registration Number |
18489, Sharjah |
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Trade Licence Number |
112058 |
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Membership Number |
22142 |
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Issued Capital |
UAE Dh 500,000 |
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Paid up Capital |
UAE Dh 500,000 |
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Total Workforce |
25 |
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Line of Business |
Distributors of soft furnishings, carpets, rugs and other floor coverings. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
MESSARA
TRADING CO LTD
ADDRESS
Registered & Physical Address
Location : Industrial Area No. 4
PO Box : 22478
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5336625
Facsimile : (971-6) 5336626
Mobile : (971-50) 6330874
Email : messara@emirates.net.ae
Premises
Subject
operates from a small suite of offices and a warehouse that are owned and
located in the Industrial Area of Sharjah.
KEY PRINCIPALS
Name Nationality Position
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Sohsil
Jan Messara Lebanese Managing Director
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Terani
Jan Messara Lebanese Director
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Assim
Ahmed Mahmoud Al Ali Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 5th April 1989
Legal Form : Limited Liability Company
Commercial Reg. No. : 18489, Sharjah
Trade Licence No. : 112058 (Expires 1st April 2007)
Membership No. : 22142
Issued
Capital : UAE Dh 500,000
Paid
up Capital : UAE Dh 500,000
Name of Shareholder (s) Percentage
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Assim
Ahmed Mahmoud Al Ali 51%
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Sohsil
Jan Messara 25%
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Terani
Jan Messara 24%
AFFILIATED COMPANIES
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Magic
Carpet
Rue Wadih Mkarzel
Sin El Fil
PO Box : 167204
Beirut
Lebanon
Tel : (961-1) 485841
Fax : (961-1) 485840
LINE OF BUSINESS
Operations
: Engaged in the
import and distribution of soft furnishings, carpets, rugs and other floor
coverings.
Subject
also acts as designers and installers of contract carpets.
Import
Countries :
Europe and Saudi Arabia
International
Suppliers :
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Angora Turkey
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Al
Sorayai Carpet Factory Saudi
Arabia
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Lentex Poland
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Adam United
Kingdom
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Balsan France
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Nelca Belgium
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Astro
Turf Belgium
Operating
Trend : Steady
Subject
has a workforce of 25 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
10,200,000 UAE
Dh 11,750,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
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National
Bank of Sharjah
Al Boorj Avenue
PO Box : 4
Sharjah
Tel : (971-6) 5547747
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000:
Established
in 1989, subject is involved in the import and distribution of soft furnishings,
carpets, rugs and other floor coverings.
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$ 250,000
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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