MIRA
INFORM REPORT
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Report Date : |
27.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
KHALID
ABDULRAHMAN ALJASMI TRADING |
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Registered Office : |
Al Khaleej
Centre, Al Mankhool Road, Al Rifaa, P O Box 56000, 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 : |
16th April 2002 |
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Com. Reg. No.: |
109574, Dubai |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import
and distribution of ready made garments, footwear, watches, jewellery,
perfumes, cosmetics and toys. |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : KHALID ABDULRAHMAN ALJASMI TRADING
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 16th April 2002
Commercial Registration Number : 109574, Dubai
Trade Licence Number : 533375
Membership Number : 103932
Invested Capital : UAE Dh 100,000
Total Workforce : 5
Line of Business : Distributors of ready made garments, footwear,
watches, jewellery, perfumes, cosmetics and toys.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
KHALID ABDULRAHMAN
ALJASMI TRADING
ADDRESS
Registered & Physical Address
Building : Al Khaleej Centre
Street : Al Mankhool Road
Area : Al Rifaa
PO Box : 56000
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2256256
Facsimile : (971-4) 7264978
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Dubai.
KEY PRINCIPALS
·
Khalid
Abdulrahman Mohamed Aljasmi Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 16th
April 2002
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 109574, Dubai
Trade Licence No. : 533375
(Expires 15th April 2008)
Membership No. :
103932
Invested Capital
: UAE Dh 100,000
Mr Khalid
Abdulrahman Mohamed Aljasmi 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
ready made garments, footwear, watches, jewellery, perfumes, cosmetics and
toys.
Import Countries
: Europe and the Far East.
Operating Trend
: Steady
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
31/12/05: Year
Ending 31/12/06:
Total Revenue UAE Dh 4,335,000 UAE Dh
4,750,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Emirates Bank
International Ltd
Baniyas Road
PO Box : 2923
Deira
Dubai
Tel : (971-4) 2256256 / 2256900
Fax : (971-4) 2268005 / 2267718
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of transaction February 2006
Credit amount 150,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
GENERAL COMMENTS
Established in
2002, subject is owned and managed by Mr Khalid Abdulrahman Mohamed Aljasmi 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.
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. |
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%)