MIRA
INFORM REPORT
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Report Date : |
28.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
AL DIGDAGA
BUILDING MATERIALS TRADING |
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Registered Office : |
Industrial Area
No. 11, P O Box 7891, Sharjah |
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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 : |
29th March 2004 |
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Com. Reg. No.: |
524970, Sharjah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import
and distribution of building materials and tools. |
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 : AL DIGDAGA BUILDING MATERIALS TRADING
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 29th March 2004
Commercial Registration Number : 524970, Sharjah
Trade Licence Number : 524970
Membership Number : 62689
Invested Capital : UAE Dh 50,000
Total Workforce : 10
Line of Business : Distributors of building materials and tools.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL DIGDAGA BUILDING
MATERIALS TRADING
ADDRESS
Registered & Physical Address
Location : Industrial Area No. 11
PO Box : 7891
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5341560
Facsimile : (971-6) 5341561
Mobile : (971-50) 7502372
Email : pmathur007@sify.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Industrial Area of Sharjah.
KEY PRINCIPALS
Hamd Mohamed Hamd Proprietor
& General Manager
Parashant Mathur Assistant
General Manager
Danish Choudary Sales
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 29th
March 2004
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 524970,
Sharjah
Trade Licence No. : 524970
Membership No. : 62689
Invested Capital
: UAE Dh 50,000
Mr Hamd Mohamed Hamd 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
building materials and tools.
Import Countries
: Europe and the Far East.
Operating Trend
: Steady
Subject has a workforce
of 10 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 3,200,000 UAE Dh
3,900,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Abu Dhabi
Commercial Bank
Mina Road
PO Box : 4377
Sharjah
Tel : (971-6) 5737000
Fax : (971-6) 5725331
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000
Established in
2004, subject is owned and managed by Mr Hamd
Mohamed Hamd who is well respected in the local business community.
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
deemed 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%)