MIRA
INFORM REPORT
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Report Date : |
08.08.2007 |
IDENTIFICATION DETAILS
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Name : |
TEKAB CO LTD |
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Registered Office : |
Industrial Area No 13, |
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Country : |
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Date of Incorporation : |
15th July
1990 |
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Com. Reg. No.: |
20509, Sharjah |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the manufacture of instrumentation, control and data cables, indoor power
cables and building wires. |
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
Company Name : TEKAB CO LTD
Country of Origin :
Legal Form :
Limited Liability Company
Registration Date : 15th
July 1990
Commercial
Registration Number : 20509,
Sharjah
Trade Licence Number : 3467
Membership Number : 25611
Issued Capital : UAE Dh
3,000,000
Paid up Capital : UAE Dh
3,000,000
Total Workforce : 50
Line of Business :
Manufacturers of instrumentation,
control and data cables,
indoor power cables and building wires.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
COMPANY NAME
TEKAB CO LTD
ADDRESS
Registered & Physical Address
Location : Industrial Area No 13
PO Box : 40474
Town : Sharjah
Country :
Telephone : (971-6) 5385230 / 5387136
Facsimile : (971-6) 5388740 / 5389256
Email : tekab@emirates.net.ae
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Sharjah.
KEY PRINCIPALS
Name Nationality Position
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Ibrahim
Asaad Tahan Palestinian Managing Director
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Ahmed
Sayed Murtada Sayed Ali Hamza Kuwaiti Director
LEGAL FORM &
OWNERS
Date of Establishment : 15th
July 1990
Legal Form :
Limited Liability Company
Commercial Reg. No. : 20509,
Sharjah
Trade Licence No. : 3467
(Expires 12th July 2008)
Membership No. : 25611
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Name of Shareholder
(s)
Percentage
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Gibca
Co Ltd 51.0%
PO Box : 289
Sharjah
Tel : (971-6) 5333333
Fax : (971-6) 5333444
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Ibrahim
Asaad Tahan 24.5%
· Ahmed Sayed Murtada Sayed Ali Hamza 24.5%
LINE OF BUSINESS
Operations : Engaged in the manufacture of instrumentation, control and data cables,
indoor power cables and building wires.
Import Countries
:
Subject has a
workforce of 50 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in
BANKERS
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United
Arab Bank
PO Box : 25022
Sharjah
Tel : (971-6) 5733900
Fax : (971-6) 5733907
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 involved in the manufacture of instrumentation, control and data cables,
indoor power cables and building wires.
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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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)