MIRA
INFORM REPORT
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Report Date : |
23rd
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
MANSA TRADING |
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Registered Office : |
Al
Faheidi Castle Co Building, Al Faheidi Street, Al Suq Al Kabir, PO Box: 12578
& 5971, Dubai, United Arab Emirates. |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
26.02.1981 |
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Com. Reg. No.: |
6415, Dubai |
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Legal Form : |
Mouassasa
Khassa (Sole Proprietorship) |
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Line of Business : |
Engaged
in the import and distribution of ferrous and non-ferrous metals, workshop equipment
and industrial plant 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$
200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
SUMMARY
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Company
Name |
MANSA TRADING |
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Country
of Origin |
Dubai, United Arab Emirates |
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Legal
Form |
Sole Proprietorship |
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Registration
Date |
26th February 1981 |
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Commercial
Registration Number |
6415, Dubai |
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Trade
Licence Number |
205650 |
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Membership
Number |
7464 |
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Invested
Capital |
UAE Dh 1,000,000 |
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Total
Workforce |
9 |
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Line
of Business |
Distributors of ferrous and non-ferrous metals, workshop equipment and industrial plant equipment. |
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Financial
Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating
Trend |
Steady |
COMPANY NAME
MANSA
TRADING
ADDRESS
Registered & Physical Address
Building : Al Faheidi Castle Co Building
Street : Al Faheidi Street
Area : Al Suq Al Kabir
PO Box : 12578 & 5971
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3536069
Facsimile : (971-4) 3536747
Mobile : (971-50) 6552949
Email : mansa@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
·
Ismail
Mohamed Musabbeh Ahmed Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 26th February 1981
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 6415, Dubai
Trade Licence No. : 205650
Membership No. : 7464
Invested
Capital : UAE Dh 1,000,000
Mr
Ismail Mohamed Musabbeh Ahmed 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 ferrous and non-ferrous metals, workshop equipment
and industrial plant equipment.
Import
Countries :
Europe and GCC countries.
Operating
Trend : Steady
Subject
has a workforce of 9 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 5,100,000 UAE Dh
5,475,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Habib
Bank Ltd
Murshid Bazaar
PO Box : 888
Dubai
Tel :
(971-4) 2221281
Fax :
(971-4) 2284631
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000
Established
in 1981, subject is owned and managed by Mr Ismail Mohamed Musabbeh Ahmed who
is well respected in the local business community.
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$ 200,000
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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