MIRA
INFORM REPORT
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Report Date : |
01.06.2007 |
IDENTIFICATION DETAILS
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Name : |
SILVER TRIDENT
TRADING ESTABLISHMENT |
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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 : |
7th August 1991 |
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Com. Reg. No.: |
20194, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import
and distribution of fresh and chilled meats. |
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$ 125,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : SILVER TRIDENT TRADING ESTABLISHMENT
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 7th August 1991
Commercial Registration Number :
20194,
Trade Licence Number : 35307
Membership Number : 39640
Invested Capital : UAE Dh 150,000
Total Workforce : 11
Line of Business : Distributors of fresh and chilled meats.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
SILVER TRIDENT
TRADING ESTABLISHMENT
ADDRESS
Registered & Physical Address
Location : Al Mina Street
PO Box : 41075
Town :
Country : United Arab Emirates
Telephone : (971-2) 6455054 / 6731943
Facsimile : (971-2) 6455053
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Suburban Business Area of Abu Dhabi.
KEY PRINCIPALS
Name Nationality Position
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Mostafa
Mohamed Abdullah Syrian Proprietor & General Manager
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Mohamed
Khalfan Emirati Local Sponsor
LEGAL FORM &
OWNERS
Date of Establishment : 7th
August 1991
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 20194, Abu
Dhabi
Trade Licence No. : 35307
(Expires 15th August 2007)
Membership No. : 39640
Invested Capital
: UAE Dh 150,000
Mr Mostafa Mohamed Abdullah 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
fresh and chilled meats.
Import Countries
: Europe and the Far East.
Operating Trend
: Steady
Subject has a
workforce of 11 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 3,800,000 UAE Dh
4,050,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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National
Bank of
Sheikh Khalifa Street
PO Box : 4
Abu Dhabi
Tel : (971-2) 6345777 / 6327113 / 6335262
Fax : (971-2) 6336078
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1991,
subject is involved in the import and distribution of fresh and chilled meats.
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$ 125,000
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%)