MIRA
INFORM REPORT
|
Report Date : |
09.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
HARKAN
IMPORTERS AND DISTRIBUTORS |
|
|
|
|
Registered Office : |
Al
Dhafra Street, P O Box 106886, Abu Dhabi |
|
|
|
|
Country : |
United
Arab Emirates |
|
|
|
|
Date of Incorporation : |
31st December 2005 |
|
|
|
|
Com. Reg. No.: |
64269 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Engaged
in the import and distribution of general foodstuff products. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
Maximum Credit Limit : |
US$
50,000 |
|
|
|
|
Status : |
New
Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : HARKAN IMPORTERS AND DISTRIBUTORS
Country of Origin : Abu Dhabi, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 31st December 2005
Commercial Registration Number : 64269, Abu Dhabi
Trade Licence Number : 92515
Membership Number : 120689
Invested Capital : UAE Dh 50,000
Total Workforce : 4
Line of Business : Distributors of general foodstuff products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
HARKAN
IMPORTERS AND DISTRIBUTORS
ADDRESS
Registered & Physical Address
Location : Al Dhafra Street
PO Box : 106886
Town : Abu Dhabi
Country : United Arab Emirates
Premises
Subject
operates from a small suite of offices and a warehouse that are rented and
located in the Central Business Area of Abu Dhabi.
KEY PRINCIPALS
Name Nationality Position
· Bayna Mubarak Sultan Al Zaabi Emirati Proprietor
· Harish Menon - General
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 31st December 2005
Legal Form : Sole Proprietorship
Commercial Reg. No. : 64269, Abu Dhabi
Trade Licence No. : 92515 (Expires 23rd December
2007)
Membership No. : 120689
Invested
Capital : UAE Dh 50,000
Ms Bayna
Mubarak Sultan Al Zaabi 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
Import
Countries :
Europe and GCC countries.
Subject
has a workforce of 4 employees.
FINANCIAL HIGHLIGHTS
Subject
is a newly formed business and as a result financial information is not currently
available.
BANKERS
·
National
Bank of Abu Dhabi
Sheikh Khalifa Street
PO Box : 4
Abu Dhabi
Tel : (971-2) 6345777 / 6327113 / 6335262
Fax : (971-2) 6336078
Acc No. 0157477133
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000:
Investigations
undertaken in Abu Dhabi 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$ 50,000
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 |
|