MIRA
INFORM REPORT
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Report Date : |
13.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
AL
APATCHE TRADING |
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Registered Office : |
Rolla
Street, Al Ghuwair Area, P O Box 20158, Sharjah |
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Country : |
United
Arab Emirates |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
13th June 1995 |
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Com. Reg. No.: |
26964 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged
in the import and distribution of general foodstuff products, ready made
garments, electronic products, automotive spare parts and novelty gift items. |
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 APATCHE TRADING
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 13th June 1995
Commercial Registration Number : 26964, Sharjah
Trade Licence Number : 119484
Membership Number : 36588
Invested Capital : UAE Dh 150,000
Total Workforce : 2
Line of Business : Distributors of general foodstuff products, ready made
garments, electronic products, automotive spare parts and
novelty gift items.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL
APATCHE TRADING
ADDRESS
Registered & Physical Address
Street : Rolla Street
Area : Al Ghuwair Area
PO Box : 20158
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5510504
Facsimile : (971-6) 5510504
Premises
Subject
operates from a small suite of offices and a warehouse that are rented and
located in the Central Business Area of Sharjah.
KEY PRINCIPALS
Name Nationality Position
Sheikh Mohamed Ismail Pakistani Proprietor
& General Manager
Abdul Qader Askar Ismail Emirati Local Sponsor
LEGAL FORM &
OWNERS
Date of Establishment : 13th June 1995
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 26964, Sharjah
Trade Licence No. : 119484 (Expires 9th June 2007)
Membership No. : 36588
Invested
Capital : UAE Dh 150,000
Mr
Sheikh Mohamed Ismail 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 foodstuff products, ready made garments,
electronic products, automotive spare parts and novelty gift items.
Import
Countries :
Europe and the Far East.
Operating
Trend : Steady
Subject
has a workforce of 2 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 3,865,000 UAE Dh
4,100,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Habib
Bank AG Zurich
Immigration Road
PO Box : 1166
Sharjah
Tel : (971-6) 5730004
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000:
Established
in 1995, subject is owned and managed by Sheikh Mohamed Ismail, a Pakistani
national who operates in Sharjah under the local sponsorship of Mr Abdul Qader
Askar Ismail.
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 deemed 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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