MIRA
INFORM REPORT
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Report Date : |
26.07.2007 |
IDENTIFICATION DETAILS
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Name : |
INTRACO GENERAL
TRADING EST |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
11th March 1992 |
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Com. Reg. No.: |
22252, Sharjah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import
and distribution of automotive spare parts |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : INTRACO GENERAL TRADING EST
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 11th March 1992
Commercial Registration Number : 22252, Sharjah
Trade Licence Number : 115202
Invested Capital : UAE Dh 100,000
Total Workforce : 10
Line of Business : Distributors of automotive spare parts.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
INTRACO GENERAL
TRADING EST
ADDRESS
Registered & Physical Address
Street :
Area : Industrial Area
PO Box : 5012 & 4719
Town : Sharjah
Country :
Telephone : (971-6) 5395535
Facsimile : (971-6) 5395545
Email : info@intracotrading.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Industrial Area of Sharjah.
KEY PRINCIPALS
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Ahmed
Al Zarounie Proprietor
& General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 11th
March 1992
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 22252,
Sharjah
Trade Licence No. : 115202
Invested Capital
: UAE Dh 100,000
Mr Ahmed Al Zarounie 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
automotive spare parts, specialising in high performance vehicles and
including exhausts, turbo kits, cooling devices, electronics, oil and fuel,
engine components, racing tyres and wheels.
Import Countries
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International
Suppliers :
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Hoosier Racing Tire Corp
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Nippon
Seiki Co Ltd
Brand Names : LAND CRUISER and NISSAN PATROL.
Operating Trend
: Steady
Subject has a
workforce of 10 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 7,250,000 UAE Dh
7,480,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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National
Bank of Sharjah
PO Box : 4
Sharjah
Tel : (971-6) 5547747
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
1992, subject is owned and managed by Mr Ahmed Al Zarounie 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.
Maximum suggested
credit figure: US$ 200,000
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%)