MIRA
INFORM REPORT
|
Report Date : |
2nd
January, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
GOLDEN DIRHAM TRADING EST |
|
|
|
|
Registered Office : |
Mustafa
Bin Abdullatif Building, Shop No. 16, Al Faheidi Street, Al Suq Al Kabir, PO
Box: 44520, Dubai, United Arab Emirates |
|
|
|
|
Country : |
United
Arab Emirates |
|
|
|
|
Date of Incorporation : |
27.06.1993 |
|
|
|
|
Com. Reg. No.: |
28400, Dubai |
|
|
|
|
Legal Form : |
Mouassasa
Khassa (Sole Proprietorship) |
|
|
|
|
Line of Business : |
Importer
and Distributor of ready made garments,
footwear, jewellery, perfumes,
cosmetics and gift items. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$
100,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
SUMMARY
|
Company
Name |
GOLDEN DIRHAM TRADING EST |
|
Country
of Origin |
Dubai, United Arab Emirates |
|
Legal
Form |
Sole Proprietorship |
|
Registration
Date |
27th June 1993 |
|
Commercial
Registration Number |
28400, Dubai |
|
Trade
Licence Number |
231266 |
|
Membership
Number |
27457 |
|
Invested
Capital |
UAE Dh 200,000 |
|
Total
Workforce |
4 |
|
Line
of Business |
Distributors of ready made garments, footwear, jewellery, perfumes, cosmetics and gift items. |
|
Financial
Condition |
Fair |
|
Payments |
Nothing detrimental uncovered |
|
Operating
Trend |
Steady |
COMPANY NAME
GOLDEN
DIRHAM TRADING EST
ADDRESS
Registered & Physical Address
Building : Mustafa Bin Abdullatif Building,
Shop No. 16
Street : Al Faheidi Street
Area : Al Suq Al Kabir
PO Box : 44520
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3532232
Facsimile : (971-4) 3532264
Email : golden16@emirates.net.ae
Premises
Subject
operates from a small suite of offices and a showroom that are rented and
located in the Central Business Area of Dubai.
KEY PRINCIPALS
·
Mohamed
Abdullah Ismail Abdullah Alyasi Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 27th June 1993
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 28400, Dubai
Trade Licence No. : 231266 (Expires 24th June 2007)
Membership No. : 27457
Invested
Capital : UAE Dh 200,000
Mr
Mohamed Abdullah Ismail Abdullah Alyasi 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 ready made garments, footwear,
jewellery, perfumes,
cosmetics and gift items.
Import
Countries :
Europe and the Far East.
Operating
Trend : Steady
Subject
has a workforce of 4 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 3,700,000 UAE Dh
3,900,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Emirates
Bank International Ltd
Baniyas Road
PO Box : 2923
Deira
Dubai
Tel : (971-4) 2256256 / 2256900
Fax : (971-4) 2268005 / 2267718
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established
in 1993, subject is owned and managed by Mr Mohamed Abdullah Ismail Abdullah
Alyasi who is well respected in the local business community.
Local
sources report that the subject’s operating history is clear with payment
obligations met in a generally timely manner. The financial position is
satisfactory and the business is deemed a fair trade risk.
Maximum
suggested credit figure: US$ 100,000
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|