MIRA
INFORM REPORT
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Report Date : |
28th February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
AL MADLOOL TRADING EST |
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Registered Office : |
Mohamed Bin
Suhail in Awaidhan Building, Al Souq Al Kabir Street, Al Bateen, Murshid
Bazar, PO Box: 114150 & 6062, Dubai, United Arab Emirates. |
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Country : |
United Arab
Emirates |
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Date of Incorporation : |
11.11.1989 |
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Com. Reg. No.: |
18903, Dubai |
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Legal Form : |
Mouassasa Khassa
(Sole Proprietorship) |
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Line of Business : |
Engaged in the import and distribution of ready made
garments, footwear, luggage, perfumes and cosmetics. |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
SUMMARY
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Company Name |
AL MADLOOL TRADING EST |
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Country of Origin |
Dubai, United Arab Emirates |
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Legal Form |
Sole Proprietorship |
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Registration Date |
11th November 1989 |
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Commercial
Registration Number |
18903, Dubai |
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Trade Licence
Number |
221177 |
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Membership Number |
17524 |
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Invested Capital |
UAE Dh 100,000 |
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Total Workforce |
5 |
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Line of Business |
Distributors of ready made garments, footwear, luggage, perfumes and cosmetics. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
AL MADLOOL TRADING
EST
ADDRESS
Registered & Physical Address
Building : Mohamed Bin Suhail in Awaidhan
Building
Street : Al Souq Al Kabir Street
Area : Al Bateen, Murshid Bazar
PO Box : 114150 & 6062
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2253586
Facsimile : (971-4) 2254821
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
·
Mahmood
Ghuloom Abdul Malik Mohamed Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 11th
November 1989
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 18903, Dubai
Trade Licence No. : 221177
(Expires 28th June 2007)
Membership No. : 17524
Invested Capital
: UAE Dh 100,000
Mr Mahmood Ghuloom
Abdul Malik Mohamed 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 ready made garments, footwear, luggage, perfumes and cosmetics.
Import Countries
: Europe and the Far East.
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 3,500,000 UAE Dh
3,860,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
·
Bank Saderat
Iran
Al Maktoum
PO Box : 4182
Dubai
Tel : (971-4) 2221161
·
Middle East
Bank Ltd
Arbit Tower
Beniyas Street
PO Box : 5547
Dubai
Tel : (971-4) 2220121
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000
Established in
1989, subject is owned and managed by Mr Mahmood Ghuloom Abdul Malik Mohamed
who is well respected in the local business community.
According to local
sources subject is making steady progress in the local business market and
nothing detrimental has been reported regarding the manner in which payments
are fulfilled. As such the business is considered to be a fair trade risk and
the above credit figure is deemed admissible.
Maximum suggested
credit figure: US$ 150,000
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%)
PRIVATE & CONFIDENTIAL : This information
is provided to you at your request, you having employed MIPL for such purpose.
You will use the information as aid only in determining the propriety of giving
credit and generally as an aid to your business and for no other purpose. You
will hold the information in strict confidence, and shall not reveal it or make
it known to the subject persons, firms or corporations or to any other. MIPL
does not warrant the correctness of the information as you hold it free of any
liability whatsoever. You will be liable to and indemnify MIPL for any loss,
damage or expense, occasioned by your breach or non observance of any one, or
more of these conditions