MIRA
INFORM REPORT
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Report Date : |
22.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
BIN DARVESH JALEBIYA & PERFUMES |
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Registered Office : |
Corniche Street, PO Box
488, Ras Al Khaimah |
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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 : |
2002 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the wholesale and
retail of Arabic dresses, garment and perfumes |
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 : BIN DARVESH JALEBIYA & PERFUMES
Country of Origin : Ras Al Khaimah, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 2002
Invested Capital : UAE Dh 50,000
Total Workforce : 4
Line of Business :
Wholesale and retail of Arabic dresses,
garment and perfumes.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
BIN DARVESH JALEBIYA & PERFUMES
ADDRESS
Registered & Physical Address
Location : Corniche
Street
PO Box : 488
Town : Ras Al Khaimah
Country : United Arab Emirates
Telephone : (971-7) 2333276
Facsimile : (971-7) 2333276
Mobile : (971-50) 6272786
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Ras Al Khaimah.
KEY PRINCIPALS
Mohamed Bin Darwish Proprietor & General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 2002
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Invested Capital
: UAE Dh 50,000
Mr Mohamed Bin Darwish 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 wholesale and retail of Arabic dresses, garment and perfumes.
Import
Countries: India and Pakistan
Operating Trend
: Steady
Subject has a
workforce of 4 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 4,000,000 UAE Dh 4,200,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
Investment Bank for Trade & Finance LLC
Al Arooba Street
PO Box : 1885
Sharjah
Tel : (971-6) 5355391 / 5355392
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000
Bin Darvesh Jalebiya &
Perfumes was established in 2002 and is engaged in the wholesale and retail of
Arabic dresses, garment and perfumes.
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 and the above credit figure is
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%)