MIRA
INFORM REPORT
|
Report Date : |
20.06.2007 |
IDENTIFICATION DETAILS
|
Name : |
MAJIDA SAAD
TAILORING & EMBROIDERY EST |
|
|
|
|
Registered Office : |
Ali Ahmed Al
Jaziri Building, Sikkat Al Khail Street, Al Bateen, P O Box 29262, Dubai |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
15th June 1999 |
|
|
|
|
Com. Reg. No.: |
80245, |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Engaged in the
import and distribution of ladies clothing, textiles and tailoring
requisites. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 150,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : MAJIDA SAAD TAILORING & EMBROIDERY EST
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 15th June 1999
Commercial Registration Number :
80245,
Trade Licence Number : 512455
Membership Number : 55084
Invested Capital : UAE Dh 50,000
Total Workforce : 5
Line of Business : Distributors of ladies clothing, textiles and tailoring requisites.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
MAJIDA SAAD
TAILORING & EMBROIDERY EST
ADDRESS
Registered & Physical Address
Building : Ali Ahmed Al Jaziri Building
Street : Sikkat Al Khail Street
Area : Al Bateen
PO Box : 29262
Town :
Country : United Arab Emirates
Telephone : (971-4) 2291494
Facsimile : (971-4) 2259879
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Dubai.
KEY PRINCIPALS
·
Majida
Saad Mohamed Hassan Proprietor
& General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 15th
June 1999
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 80245, Dubai
Trade Licence No. : 512455
Membership No. : 55084
Invested Capital
: UAE Dh 50,000
Mr Majida Saad
Mohamed Hassan 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
ladies clothing, textiles and tailoring requisites.
Import Countries
: Europe and GCC countries.
Operating Trend
: Steady
Subject has a
workforce of 5 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 3,780,000 UAE Dh
4,000,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
·
Habib
Bank Ltd
Murshid Bazaar
PO Box : 888
Dubai
Tel : (971-4) 2221281
Fax : (971-4) 2284631
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
1999, subject is involved in the import and distribution of ladies clothing,
textiles and tailoring requisites.
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$ 150,000
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)