MIRA
INFORM REPORT
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Report Date : |
24th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
DEEPALI
TRADING |
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Registered Office : |
Heirs
of Haji Ismail Building, Ali Ibn Abi Talib Street, Al Suq Al Kabir, PO Box:
12839 & 47188, Dubai, United Arab Emirates |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
28.07.1990 |
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Com. Reg. No.: |
21032, Dubai |
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Legal Form : |
Mouassasa
Khassa (Sole Proprietorship) |
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Line of Business : |
Importer
and Distributors of ready made garments, footwear,
luggage, perfumes and cosmetics. |
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 |
DEEPALI 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 |
28th July 1990 |
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Commercial Registration Number |
21032, Dubai |
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Trade Licence Number |
223370 |
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Membership Number |
19743 |
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Invested Capital |
UAE Dh 60,000 |
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Total Workforce |
3 |
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Line of Business |
Distributors of ready made garments, footwear, luggage, perfumes and cosmetics. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
DEEPALI
TRADING
ADDRESS
Registered & Physical Address
Building : Heirs of Haji Ismail Building
Street : Ali Ibn Abi Talib Street
Area : Al Suq Al Kabir
PO Box : 12839 & 47188
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3532978
Facsimile : (971-4) 3530838
Mobile : (971-50) 5204890
Email : anjurak@hotmail.com
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
·
Hassan
Abdulla Mohamed Abdul Rahman Al Hammadi
Proprietor & General Manager
LEGAL FORM & OWNERS
Date of Establishment : 28th July 1990
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 21032, Dubai
Trade Licence No. : 223370 (Expires 20th July 2007)
Membership No. : 19743
Invested
Capital : UAE Dh 60,000
Mr
Hassan Abdulla Mohamed Abdul Rahman Al Hammadi 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, footwear, luggage, perfumes and
cosmetics.
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 3,200,000 UAE Dh
3,450,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Abu
Dhabi Commercial Bank
Al Rigga Road
PO Box : 5550
Dubai
Tel :
(971-4) 2958888 / 3228141
Fax :
(971-4) 2959310 / 3279632
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000:
Established
in 1990, subject is owned and managed by Mr Hassan Abdulla Mohamed Abdul Rahman
Al Hammadi who is well respected in the local business community.
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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