MIRA
INFORM REPORT
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Report Date : |
01.06.2007 |
IDENTIFICATION DETAILS
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Name : |
AL SHALAN TRADING
EST |
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Registered Office : |
Ar Reem Real
Estate Services Est Building, Al Qusais Street, Al Qusais Industrial Area, P O
Box 32557, Dubai |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
14th September 2002 |
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Com. Reg. No.: |
92834, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the
import and distribution of cereals, grain, dates and vegetables. |
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 : |
Usually correct |
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Litigation : |
Clear |
SUMMARY
Company Name : AL SHALAN TRADING EST
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 14th September 2002
Commercial Registration Number :
92834,
Trade Licence Number : 537561
Membership Number : 71669
Invested Capital : UAE Dh 200,000
Total Workforce : 3
Line of Business : Distributors of cereals, grain, dates and vegetables.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL SHALAN TRADING
EST
ADDRESS
Registered & Physical Address
Building : Ar Reem Real Estate Services Est
Building
Street : Al Qusais Street
Area : Al Qusais Industrial Area
PO Box : 32557
Town :
Country : United Arab Emirates
Telephone : (971-4) 2677773
Facsimile : (971-4) 2679887
Email : shalan1@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.
KEY PRINCIPALS
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Mohamed
Abdul Rahman Abdulaziz Al Shalan Proprietor
& General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 14th
September 2002
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 92834, Dubai
Trade Licence No. : 537561
(Expires 13th September 2007)
Membership No. : 71669
Invested Capital
: UAE Dh 200,000
Mr Mohamed Abdul
Rahman Abdulaziz Al Shalan 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
cereals, grain, dates and vegetables.
Import Countries
: Europe and the Far East.
Operating Trend
: Steady
Subject has a
workforce of 3 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 3,850,000 UAE Dh
4,100,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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PO Box : 1080
Dubai
Tel : (971-4) 2953000
Fax : (971-4) 2954111
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
2002, subject is owned and managed by Mr Mohamed Abdul Rahman Abdulaziz Al
Shalan 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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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%)