MIRA
INFORM REPORT
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Report Date : |
04.07.2007 |
IDENTIFICATION DETAILS
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Name : |
MOHAMED ABDULLAH
FIKRI TRADING EST |
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Registered Office : |
Fardan Bin Ali
Alfardan Building, Al Rifa’a Street, Al Suq Al Kabir, P O Box 2684, Dubai |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
19th August 1984 |
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Com. Reg. No.: |
10248, |
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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, luggage, jewellery,
perfume and cosmetics. |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : MOHAMED ABDULLAH FIKRI TRADING EST
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 19th August 1984
Commercial Registration Number :
10248,
Trade Licence Number : 208993
Membership Number : 5589
Invested Capital : UAE Dh 200,000
Total Workforce : 5
Line of Business : Distributors of ready made garments, footwear,
luggage, jewellery, perfume and cosmetics.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
MOHAMED ABDULLAH
FIKRI TRADING EST
ADDRESS
Registered & Physical Address
Building : Fardan Bin Ali Alfardan Building
Street : Al Rifa’a Street
Area : Al Suq Al Kabir
PO Box : 2684
Town :
Country : United Arab Emirates
Telephone : (971-4) 3521167
Facsimile : (971-4) 3358840
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
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Nader
Mohamed Abdullah Fikri Proprietor
& General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 19th
August 1984
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 10248, Dubai
Trade Licence No. : 208993
(Expires 5th March 2008)
Membership No. : 5589
Invested Capital
: UAE Dh 200,000
Mr Nader Mohamed
Abdullah Fikri 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, luggage, jewellery, perfume and cosmetics.
Import Countries
: Europe and GCC countries.
Operating Trend
: Steady
Subject has a
workforce of 5 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : United
Arab Emirates Dirham (UAE Dh)
Year Ending
31/12/05 : Year
Ending 31/12/06 :
Total Revenue UAE Dh 7,750,000 UAE Dh
8,100,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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National
Bank of Umm Al Quwain
PO Box : 8898
Dubai
Tel : (971-4) 3796655
Fax
: (971-4) 3976633
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
1984, subject is owned and managed by Mr Nader Mohamed Abdullah Fikri who is
well respected in the local business community.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the business is deemed a fair trade risk
and the above credit figure is considered to be within subject’s financial
means.
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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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)