MIRA
INFORM REPORT
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Report Date : |
20.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
SUPER CITY
TRADING |
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Registered Office : |
Saeed Abdullah Hareb
Building, Airport Road, Port Saeed, P O Box 23296, Dubai |
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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 : |
27th November 1991 |
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Com. Reg. No.: |
24033, Dubai |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the
import and distribution of automotive spare parts and related accessories,
including tyres, wheels 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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
SUMMARY
Company Name : SUPER CITY TRADING
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 27th November 1991
Commercial Registration Number : 24033, Dubai
Trade Licence Number : 226334
Membership Number : 22583
Invested Capital : UAE Dh 400,000
Total Workforce : 3
Line of Business : Distributors of automotive spare parts and related accessories.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
SUPER CITY TRADING
ADDRESS
Registered & Physical Address
Building : Saeed Abdullah Hareb Building
Street : Airport Road
Area : Port Saeed
PO Box : 23296
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2242125
Facsimile : (971-4) 2222491
Email : supercty@emirates.net.ae
Premises
Subject operates
from a small suite of offices and a showroom with storage facilities that are
rented and located in the Suburban Business Area of Dubai.
KEY PRINCIPALS
·
Sheikh Abdul
Rahman Salem Al Qassimi Proprietor & General
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 27th
November 1991
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 24033, Dubai
Trade Licence No. : 226334
(Expires 8th November 2007)
Membership No. : 22583
Invested Capital
: UAE Dh 400,000
Sheikh Abdul Rahman
Salem Al Qassimi 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
automotive spare parts and related accessories, including tyres, wheels and
batteries.
Import Countries
: Europe and Japan.
Operating Trend
: Steady
Subject has a
workforce of 3 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 4,280,000 UAE Dh
4,350,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Standard
Chartered Bank
Khalid Bin Waleed Street
PO Box : 999
Dubai
Tel : (971-4) 2520455
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit
figure of US$ 150,000
Established in
1991, subject is involved in the import and distribution of automotive spare
parts and related accessories, including tyres, wheels and batteries.
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
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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%)