MIRA
INFORM REPORT
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Report Date : |
21.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
AMPELOUS METAL TRADING |
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Registered Office : |
Emirates International
Investment Building, Al Mussafah Area M 3 / 1, P O Box 51367,
Abu
Dhabi |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
30th April 2005 |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Engaged in the import and distribution
of used aluminium, brass and batteries. |
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 : AMPELOUS METAL TRADING
Country of Origin : Abu Dhabi,
United Arab Emirates
Legal Form :
Sole Proprietorship
Registration Date : 30th April 2005
Trade Licence
Number : 88688
Membership Number : 111721
Invested Capital : UAE Dh
300,000
Total Workforce : 5
Line of Business : Import and distribution of used aluminium, brass and
batteries.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
COMPANY NAME
AMPELOUS METAL TRADING
ADDRESS
Registered &
Physical Address
Building : Emirates International Investment Building
Area : Al Mussafah Area M 3 / 1
PO Box : 51367
Town : Abu Dhabi
Country : United Arab
Emirates
Telephone : (971-2) 5555929
Facsimile : (971-2) 5555929
Email : ampelous@yahoo.com
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Industrial Area of Abu Dhabi.
KEY PRINCIPALS
Name Nationality Position
Mohamed Mabkhout Al Mahali Emirati Proprietor
& General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 30th April 2005
Legal Form :
Sole Proprietorship
Trade License No. : 88688 (valid until 30/04/2007)
Membership No. : 111721
Invested Capital : UAE
Dh 300,000
Mr Mohamed Mabkhout Al Mahali 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 used aluminium,
brass and batteries.
Import Countries: India
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 31/12/06:
Total Revenue UAE
Dh 3,100,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Abu Dhabi Commercial Bank
Mussafah
PO Box : 9331
Abu Dhabi
Tel : (971-2) 5544272
Fax : (971-2) 5544273
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000
Ampelous Metal Trading was
established in April 2005 and has made steady progress in the market
specialising in the import and distribution of used aluminium, brass and
batteries.
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%)