MIRA
INFORM REPORT
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Report Date : |
25.07.2007 |
IDENTIFICATION DETAILS
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Name : |
ABDUL GAYED
HARDWARE TRADING EST |
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Registered Office : |
Warehouse No. 1,
Al Quoz Industrial Area No. 4, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
5th
September 1995 |
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Com. Reg. No.: |
55264, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import
and distribution of hardware
materials and scaffolding products. |
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 : ABDUL GAYED HARDWARE
TRADING EST
Country of Origin :
Legal Form :
Sole Proprietorship
Registration Date : 5th
September 1995
Commercial
Registration Number : 55264,
Trade Licence Number : 239011
Invested Capital : UAE Dh
Total Workforce : 12
Line of Business :
Distributors of hardware
materials and scaffolding products.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
ABDUL GAYED
HARDWARE TRADING EST
ADDRESS
Registered & Physical Address
Building : Warehouse No. 1
Area : Al Quoz Industrial Area No. 4
PO Box : 40887
Town :
Country :
Telephone : (971-4) 3419690
Facsimile : (971-4) 3419691
Email : radwan52@emirates.net.ae
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Industrial Area of Dubai.
Branch Office (s)
Location Description
·
Deira Office
premises
Tel
: (971-4) 2231269
Fax : (971-4) 2212018
KEY PRINCIPALS
Name Nationality Position
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Baqer
Hussain Indian Proprietor
& General Manager
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Ali
Daoud Salman Abdullah Emirati Local Sponsor
LEGAL FORM &
OWNERS
Date of Establishment : 5th
September 1995
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 55264,
Trade Licence No. : 239011
(Expires 5th September 2007)
Invested Capital
: UAE Dh
Mr Baqer Hussain 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 hardware materials and scaffolding
products.
Import Countries
: Europe and the
Operating Trend
: Steady
Subject has a
workforce of 12 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency :
Year Ending
31/12/05 : Year
Ending 31/12/06 :
Total Revenue UAE Dh UAE Dh
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Habib
Bank Ltd
PO Box : 897
Tel : (971-2) 6224688
Fax : (971-2) 6225620
Acc No. 2105443442
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
1995, subject is involved in the import and distribution of hardware materials and scaffolding
products.
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
company is considered to be a fair trade risk.
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%)