MIRA
INFORM REPORT
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Report Date : |
11.07.2007 |
IDENTIFICATION DETAILS
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Name : |
ZAMZAM
TRADING ESTABLISHMENT |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
08.07.1976 |
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Com. Reg. No.: |
14025, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import
and distribution of building materials, sanitaryware, electric wiring and
accessories. |
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 :
ZAMZAM TRADING
ESTABLISHMENT
Country of Origin :
Legal Form :
Sole Proprietorship
Registration Date :
8th July 1976
Commercial Registration Number :
14025,
Trade Licence Number :
8272
Membership Number :
5258
Invested Capital :
UAE Dh 50,000
Total Workforce :
4
Line of Business :
Import and distribution
of building materials,
sanitaryware, electric wiring and accessories.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
COMPANY NAME
ZAMZAM TRADING
ESTABLISHMENT
ADDRESS
Registered & Physical Address
Location :
PO Box : 46232
Town :
Country :
Telephone : (971-2) 6790146
/ 6329923
Facsimile : (971-2)
6774608
Premises
Subject operates from a small suite of offices, a showroom and a
warehouse that are rented and located in the Central Business Area of Abu
Dhabi.
KEY PRINCIPALS
Omar Saeed Al
Menhali Proprietor & General
Manager
Hassan Al
Zubaidi Assistant
General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 8th
July 1976
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 14025,
Trade Licence No. : 8272 (Valid until
07/05/2008)
Membership No. : 5258
Invested Capital : UAE Dh 50,000
Mr Omar Saeed Al
Menhali 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 building
materials, sanitaryware, electric wiring
and accessories.
Import Countries :
International Suppliers:
Ariston
Peglar
Kestal Measure
Operating Trend : Steady
Subject has a workforce of 4 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency :
Year
Ending 31/12/05: Year
Ending 31/12/06:
Total Revenue UAE
Dh 8,270,000 UAE Dh
8,500,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Habib Bank AG
PO Box : 897
Tel : (971-2) 330188
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
Zamzam Trading
Establishment has been in business for over 30 years and is engaged in the import and distribution of building
materials, sanitaryware, electric wiring and accessories.
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 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%)