MIRA
INFORM REPORT
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Report Date : |
4th
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
ALI FARHAN TRADING |
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Registered Office : |
Ibrahim
Ali Al Zarouni Building, Sikkat Al Khail Street, Rigga Al Bateen, PO Box:
124532, Dubai, United Arab Emirates. |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
14.08.2006 |
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Com. Reg. No.: |
998355, Dubai |
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Legal Form : |
Mouassasa
Khassa (Sole Proprietorship) |
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Line of Business : |
Importer
and Distributor of tools, hardware, building
materials and construction equipment. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$
30,000 |
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Status : |
New
Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
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Company
Name |
ALI FARHAN 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 |
14th August 2006 |
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Commercial
Registration Number |
998355, Dubai |
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Trade
Licence Number |
584755 |
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Membership
Number |
110144 |
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Invested
Capital |
UAE Dh 50,000 |
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Total
Workforce |
2 |
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Line
of Business |
Distributors of tools, hardware, building materials and construction equipment. |
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Financial
Condition |
Undetermined |
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Payments |
Nothing detrimental uncovered |
COMPANY NAME
ALI
FARHAN TRADING
ADDRESS
Registered & Physical Address
Building : Ibrahim Ali Al Zarouni Building
Street : Sikkat Al Khail Street
Area : Rigga Al Bateen
PO Box : 124532
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2267226
Facsimile : (971-4) 2262933
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
·
Ali
Juma Bashir Farhan Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 14th August 2006
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 998355, Dubai
Trade Licence No. : 584755 (Expires 11th August
2007)
Membership No. : 110144
Invested
Capital : UAE Dh 50,000
Mr Ali
Juma Bashir Farhan 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 tools, hardware, building materials and
construction equipment.
Import
Countries :
Europe and GCC countries.
Subject
has a workforce of 2 employees.
FINANCIAL HIGHLIGHTS
Subject
is a newly formed business and as a result financial information is not
currently available.
BANKERS
·
Commercial
Bank of Dubai
Baniyas Street
PO Box : 1709
Deira
Dubai
Tel : (971-4) 2227121 / 2253222
Fax : (971-4) 2220943 / 2254565
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Investigations
undertaken in Dubai did not reveal any sign of payment defaults or delays
during initial trading stages, and subject is believed to meet its payment
obligations in a timely manner, nevertheless, and in view of the company’s
infancy and the lack of a more consistent payment and financial record, a
measure of caution is advisable and a close monitoring of subject’s business
development is recommended.
Maximum
suggested credit figure: US$ 30,000
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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