MIRA
INFORM REPORT
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Report Date : |
23.05.2007 |
IDENTIFICATION DETAILS
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Name : |
EMPER PERFUMES
& COSMETICS |
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Registered Office : |
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Country : |
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Date of Incorporation : |
1st January 2007 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the
bottling of perfumes and cosmetics. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 30,000 |
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Status : |
New Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : EMPER PERFUMES & COSMETICS
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 1st January 2007
Trade Licence Number : 07013
Invested Capital : UAE Dh 50,000
Total Workforce : 5
Line of Business : Bottlers of perfumes and cosmetics.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
EMPER PERFUMES
& COSMETICS
ADDRESS
Registered & Physical Address
Location :
PO Box : 27651
Town :
Country :
Telephone : (971-4) 2252201
Facsimile : (971-4) 2259920
Email : msce@emirates.net.ae
Premises
Subject operates
from a small suite of offices and a factory that are rented and located in the
Industrial Area of Dubai.
KEY PRINCIPALS
Khalil Ahmed Diab Proprietor
& General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1st
January 2007
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Trade Licence No. : 07013
(Expires 31st December 2007)
Invested Capital
: UAE Dh 50,000
Mr Khalil Ahmed Diab 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 bottling of perfumes and
cosmetics.
Import Countries
: Europe and the
Subject has a
workforce of 5 employees.
FINANCIAL HIGHLIGHTS
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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Emirates
Bank International Ltd
PO Box : 2923
Deira
Tel : (971-4) 2256256 / 2256900
Fax : (971-4) 2268005 /
2267718
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Investigations
undertaken in Dubai did not reveal any sign of payment defaults or delays
during initial trading stages, and subject is believed to meet its payment
obligations in a timely manner, nevertheless, and in view of the company’s
infancy and the lack of a more consistent payment and financial record, a
measure of caution is advisable and a close monitoring of subject’s business
development is recommended.
Maximum suggested
credit figure: US$ 30,000
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%)