MIRA
INFORM REPORT
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Report Date : |
23rd
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
SABTA GRANITE & MARBLE TRADING EST |
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Registered Office : |
Industrial
Area No. 13, PO Box: 34390, Sharjah, United Arab Emirates |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
21.06.2003 |
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Com. Reg. No.: |
45754, Sharjah |
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Legal Form : |
Mouassasa
Khassa (Sole Proprietorship) |
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Line of Business : |
Engaged
in the import and distribution of marble and granite. |
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 : |
Usually
Correct |
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Litigation : |
Clear |
SUMMARY
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Company
Name |
SABTA GRANITE & MARBLE TRADING EST |
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Country
of Origin |
Sharjah, United Arab Emirates |
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Legal
Form |
Sole Proprietorship |
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Registration
Date |
21st June 2003 |
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Commercial
Registration Number |
45754, Sharjah |
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Trade
Licence Number |
521358 |
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Membership
Number |
59620 |
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Invested
Capital |
UAE Dh 50,000 |
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Total
Workforce |
10 |
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Line
of Business |
Distributors of marble and granite. |
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Financial
Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating
Trend |
Steady |
COMPANY NAME
SABTA
GRANITE & MARBLE TRADING EST
ADDRESS
Registered & Physical Address
Location : Industrial Area No. 13
PO Box : 34390
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5389210
Facsimile : (971-6) 5389218
Mobile : (971-50) 2050707
Email : sabtagranite@yahoo.com
Premises
Subject
operates from a small suite of offices and a warehouse that are rented and
located in the Industrial Area of Sharjah.
KEY PRINCIPALS
Name Nationality Position
·
Anil
Sukaramji Choudary Indian Proprietor & General Manager
·
Jamal
Ali Abdullah Khalfan Emirati Local Sponsor
·
Ajay
Kalera - Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 21st June 2003
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 45754, Sharjah
Trade Licence No. : 521358 (Expires 21st June 2007)
Membership No. : 59620
Invested
Capital : UAE Dh 50,000
Mr Anil
Sukaramji Choudary 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 marble and granite.
Import
Countries :
India
International
Suppliers :
· SRGM India
Operating
Trend : Steady
Subject
has a workforce of 10 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 4,200,000 UAE Dh
4,700,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
National
Bank of Sharjah
Al Boorj Avenue
PO Box : 4
Sharjah
Tel : (971-6) 5547747
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000:
Established
in 2003, subject is owned and managed by Mr Anil Sukaramji Choudary, an Indian
national who operates in Sharjah under the local sponsorship of Mr Jamal Ali
Abdullah Khalfan.
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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