MIRA
INFORM REPORT
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Report Date : |
12.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
INDIA
TRADING EST |
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Registered Office : |
Real
Estate Department Building, Al Mussalla Street, Al Suq Al Kabir, P O Box
56000, Dubai |
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Country : |
United
Arab Emirates |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
5th July 1994 |
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Com. Reg. No.: |
31559 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged
in the import and distribution of ready made garments, footwear, jewellery,
artificial flowers, perfumes, cosmetics and toys. |
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$
100,000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : INDIA TRADING EST
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 5th July 1994
Commercial Registration Number : 31559, Dubai
Trade Licence Number : 234944
Membership Number : 31145
Invested Capital : UAE Dh 200,000
Total Workforce : 2
Line of Business : Distributors of ready made garments, footwear, jewellery,
artificial flowers, perfumes, cosmetics and toys.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
INDIA
TRADING EST
ADDRESS
Registered & Physical Address
Building : Real Estate Department Building
Street : Al Mussalla Street
Area : Al Suq Al Kabir
PO Box : 56000
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2350996
Facsimile : (971-4) 2350996
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
·
Khalid
Abdul Rahman Mohamed Al Jassmi Proprietor
& General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 5th July 1994
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 31559, Dubai
Trade Licence No. : 234944 (Expires 2nd July 2007)
Membership No. : 31145
Invested
Capital : UAE Dh 200,000
Mr
Khalid Abdul Rahman Mohamed Al Jassmi 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, artificial
flowers, perfumes, cosmetics and toys.
Import
Countries :
Europe and GCC countries.
Operating
Trend : Steady
Subject
has a workforce of 2 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 3,150,000 UAE Dh
3,400,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
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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 1994, subject is owned and managed by Mr Khalid Abdul Rahman Mohamed Al
Jassmi 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.
Maximum
suggested credit figure: US$ 100,000
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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