MIRA
INFORM REPORT
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Report Date : |
28.06.2007 |
IDENTIFICATION DETAILS
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Name : |
AL AWANI GENERAL ENTERPRISES & COMPANIES REPRESENTATION EST |
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Registered Office : |
Al Waha Tower, Sheikh Zayed Street, Khalidiya Area, P O Box – 46646, Abu Dhabi |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
14.03.1983 |
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Com. Reg. No.: |
19004, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import and distribution of veterinary supplies, animal feeds, equine supplies, horse riding equipment and farriers equipment. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 350,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : AL AWANI GENERAL ENTERPRISES & COMPANIES
REPRESENTATION EST
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 14th March 1983
Commercial Registration Number :
19004,
Economic Department Number : 1000246
Membership Number : 8070
Invested Capital : UAE Dh 100,000
Total Workforce : 20
Line of Business : Distributors of veterinary supplies, animal feeds, horse riding equipment
and farriers equipment.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL AWANI GENERAL ENTERPRISES & COMPANIES REPRESENTATION EST
ADDRESS
Registered & Physical Address
Building : Al
Street :
Area : Khalidiya Area
PO Box : 46646
Town :
Country :
Telephone : (971-2) 6211636 / 6664847 / 6211621 / 6668355
Facsimile : (971-2) 6662959 / 6211434
Email : alwani@emirates.net.ae
Premises
Subject operates from a small suite of offices that are rented and located in the Central Business Area of Abu Dhabi.
Branch Office (s)
Location Description
Tel: (971-4) 2675881
Fax: (971-4) 2675898
KEY PRINCIPALS
Saif Sultan Saif Al Awani Proprietor & General Manager
Dr Ajmal Shah Assistant General Manager
C. Jannath Sales Manager
LEGAL FORM &
OWNERS
Date of Establishment : 14th March 1983
Legal Form : Sole Proprietorship
Commercial Reg. No. :
19004,
Economic Dept. No. : 1000246
Membership No. : 8070
Invested Capital : UAE Dh 100,000
Mr Saif Sultan Saif Al Awani 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.
AFFILIATED COMPANIES
Gulf Rider Veterinary Medicines & Equipment Trading
PO Box : 46646
Tel : (971-4) 6211636
Fax : (971-2) 6211434
Al Awani Equestrian Supplies Est
PO Box : 46646
Tel : (971-2) 6211636
Fax : (971-2) 6211434
Faris Al Khaleej Equestrian Supplies
PO Box : 46646
Tel : (971-2) 6655571
Fax : (971-2) 6655571
LINE OF BUSINESS
Operations : Engaged in the import and distribution of veterinary supplies, animal feeds, equine supplies, horse riding equipment and farriers equipment.
Import Countries : Europe,
International Suppliers :
Vetsearch
Nature Vet Pty Ltd
Bio Strath AG
Spillers Speciality Feeds Ltd
Tredstep Ireland Ltd
Charmol Hungary Ltd
Horse Shoe Technologies AG
Equilite Inc
Life Data Labs
Operating Trend : Steady
Subject has a workforce of 20 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 7,340,000 UAE Dh 7,850,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
National Bank of
PO Box : 4
Tel : (971-2) 6345777 / 6327113 / 6335262
Fax : (971-2) 6336078
Abu Dhabi Commercial Bank
PO Box : 2832
Tel : (971-2) 6335820
Fax : (971-2) 6340680
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
Date of transaction July 2003 July 2004 June 2005
Credit amount 101,648 102,330 94,800
Amount overdue 0 0 0
Payment terms 60 days 60 days 60 days
Payment Method Letters of Credit Letters of Credit Letters of Credit
Paying record No Complaints No Complaints No Complaints
Currency Canadian
Dollars Canadian Dollars Canadian Dollars
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
Established in 1983, subject is owned and managed by Mr Saif Sultan Saif Al Awani 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 company 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$ 350,000
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%)