MIRA
INFORM REPORT
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Report Date : |
23.08.2007 |
IDENTIFICATION DETAILS
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Name : |
AL INTISAR
GENERAL TRADING EST |
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Registered Office : |
Abdullah
Abdulaziz Al Zarooni Building, Al Suq Al Kabeer Street, Al Ras, Deira, P O
Box 703, Dubai |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
11th February 1988 |
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Com. Reg. No.: |
5306, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and
distribution of general merchandise specialising in beverages such as tea and
coffee, and foodstuff, as well as electronic and electrical equipment. |
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 : AL INTISAR GENERAL TRADING EST
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 11th February 1988
Commercial Registration Number :
5306,
Trade Licence Number : 205129
Membership Number : 6418
Invested Capital : UAE Dh 3,000,000
Total Workforce : 6
Line of Business : Distributors of general merchandise, particularly
foodstuff and beverages.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL INTISAR GENERAL
TRADING EST
ADDRESS
Registered & Physical Address
Building : Abdullah Abdulaziz Al Zarooni
Building
Street : Al Suq Al Kabeer Street
Area : Al Ras, Deira
PO Box : 703
Town :
Country : United Arab Emirates
Telephone : (971-4) 2263611 / 2263710
Facsimile : (971-4) 2266955
Email : victory@emirates.net.ae
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
·
Mohamed
Reza Masih Al Ansari Proprietor
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Farid
Mohamed Reza Masih Al Ansari General
Manager
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Majid Mohamed
Reza Masih Al Ansari Commercial
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 11th
February 1988
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 5306, Dubai
Trade Licence No. : 205129
Membership No. : 6418
Invested Capital
: UAE Dh 3,000,000
Mr Mohamed Reza
Masih Al Ansari 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
general merchandise specialising in beverages such as tea and coffee, and
foodstuff, as well as electronic and electrical equipment.
Import Countries
: Europe and the United
States of America.
Operating Trend
: Steady
Subject has a
workforce of 6 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : United
Arab Emirates Dirham (UAE Dh)
Year Ending
31/12/05: Year
Ending 31/12/06:
Total Revenue UAE Dh 3,800,000 UAE Dh
4,075,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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National
Bank of
Baniyas Street
PO Box : 777
Dubai
Tel
: (971-4) 2222241
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Commercial
Bank of Dubai
Mankhool Street
PO Box : 2668
Dubai
Tel : (971-4) 3523355
Fax : (971-4) 3527655 / 2524796
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of transaction August 2004 February 2005
Credit amount 55,000 130,000
Amount overdue 0 0
Payment terms 60
days 90
days
Payment Method Letters
of Credit Letters
of Credit
Paying record No
Complaints No
Complaints
Currency US
Dollars US
Dollars
GENERAL COMMENTS
Established in
1988, subject is owned and managed by Mr Mohamed Reza Masih Al Ansari 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 business is deemed a fair trade risk.
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. |
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%)