MIRA
INFORM REPORT
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Report Date : |
10.07.2007 |
IDENTIFICATION DETAILS
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Name : |
DAWAR MOWAILEH FOOD
STUFF TRADING COMPANY |
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Registered Office : |
Al Malama Area, |
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Country : |
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Date of Incorporation : |
8th July
2006 |
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Com. Reg. No.: |
545113, Sharjah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import
and distribution of general foodstuff products. |
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$ 50,000 |
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Status : |
New & Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : DAWAR MOWAILEH FOOD STUFF TRADING COMPANY
Country of Origin :
Legal Form :
Sole Proprietorship
Registration Date : 8th
July 2006
Commercial
Registration Number : 545113, Sharjah
Trade Licence Number : 545113
Membership Number : 73935
Invested Capital : UAE Dh
50,000
Total Workforce : 5
Line of Business : Import
& distribution of general foodstuff products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
DAWAR MOWAILEH FOOD
STUFF TRADING COMPANY
ADDRESS
Registered & Physical Address
Location : Al Malama Area
PO Box : 150995 & 20122
Town : Sharjah
Country :
Telephone : (971-6) 5342331
Facsimile : (971-6) 5342331
Email : dmfstc@eim.ae
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Suburban Business Area of Sharjah.
KEY PRINCIPALS
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Mohamed
Rashid Obaid Proprietor
& General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 8th
July 2006
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 545113, Sharjah
Trade License No. : 545113 (Valid until 07/07/2008)
Membership No. : 73935
Invested Capital
: UAE Dh 50,000
Mr Mohamed Rashid Obaid 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:
Subject has a
workforce of 5 employees.
FINANCIAL HIGHLIGHTS
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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Emirates
Bank International Ltd
Immigration Road
PO Box : 25090
Sharjah
Tel : (971-6) 733300
Fax : (971-6) 730077
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Dawar Mowaileh Food
Stuff Trading Company is a
newly established business with operations commencing in July 2006. It is engaged
in the import and distribution of general foodstuff products.
According to local
sources subject is making steady progress in the local business market and
nothing detrimental has been reported regarding the manner in which payments
are fulfilled. As such the business is considered to be a fair trade risk,
however a measure of caution would be prudent given the lack of financial and
payment due to the short operating history.
Maximum suggested
credit figure: US$ 50,000
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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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%)