MIRA
INFORM REPORT
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Report Date : |
23.08.2007 |
IDENTIFICATION DETAILS
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Name : |
ABDULLA MOHAMMED
AL ZAROONI TRADING |
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Registered Office : |
Hussein Abdulla
Al |
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Country : |
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Date of Incorporation : |
31st July 2006 |
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Com. Reg. No.: |
111455, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import
and distribution of pashminas, shawls, tablecloths and carpets. |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : ABDULLA MOHAMMED AL ZAROONI TRADING
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 31st July 2006
Commercial Registration Number :
111455,
Trade Licence Number : 583027
Membership Number : 109775
Invested Capital : UAE Dh 100,000
Total Workforce : 4
Line of Business : Distributors of pashminas, shawls, tablecloths and carpets.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
ABDULLA MOHAMMED AL
ZAROONI TRADING
ADDRESS
Registered & Physical Address
Building : Hussein Abdulla Al
Area : Al Wasl
PO Box : 4986
Town :
Country :
Telephone : (971-4) 2277410
Facsimile : (971-4) 2277410
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
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Abdulla
Mohammed Ibrahim Mohammed Al Zarooni Proprietor & General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 31st
July 2006
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 111455,
Trade Licence No. : 583027
(Expires 27th June 2008)
Membership No. :
109775
Invested Capital
: UAE Dh 100,000
Mr Abdulla Mohammed
Ibrahim Mohammed Al Zarooni 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
pashminas, shawls, tablecloths and carpets.
Import Countries
: Europe and the
Subject has a
workforce of 4 employees.
FINANCIAL HIGHLIGHTS
Subject is a newly formed
business and as a result financial information is not currently available.
BANKERS
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Emirates
Bank International Ltd
PO Box : 2923
Deira
Tel : (971-4) 3160316
Fax : (971-4) 2264302
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Investigations
undertaken in Dubai did not reveal any sign of payment defaults or delays
during initial trading stages, and subject is believed to meet its payment
obligations in a timely manner, nevertheless, and in view of the company’s
infancy and the lack of a more consistent payment and financial record, a
measure of caution is advisable and a close monitoring of subject’s business
development is recommended.
Maximum suggested credit
figure: US$ 100,000
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. |
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%)