MIRA
INFORM REPORT
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Report Date : |
27.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
YUSUF KARAM TRADING EST |
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Registered Office : |
Ibrahim Mohamed Bin Dukhan Building, Al Khor Street, Al Ras, PO Box 51377, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
21.09.2002 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and retail of general merchandise |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : YUSUF KARAM TRADING EST
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 21st September 2002
Trade Licence Number : 537769
Membership Number : 71834
Invested Capital : UAE Dh 200,000
Total Workforce : 6
Line of Business : Import and retail of general merchandise.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
YUSUF KARAM TRADING EST
ADDRESS
Registered & Physical Address
Building : Ibrahim Mohamed Bin Dukhan Building
Street : Al Khor Street
Area : Al Ras
PO Box : 51377
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2263384
Facsimile : (971-4) 2255685
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
Yusuf Karam Ali Mohamed Proprietor & General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 21st September 2002
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Trade Licence No. : 537769 (Valid until 20/09/2008)
Membership No. : 71834
Invested Capital : UAE Dh 200,000
Mr Yusuf Karam Ali Mohamed 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 retail of textiles, blankets, towels and linen, ready made garments, shoes, handbags and leather products, perfumes and cosmetics, watches and spare parts, giftware, toys and games, suitcases and travel requisites.
Operating Trend : Steady
Subject has a workforce of 6 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 4,175,000 UAE Dh 4,490,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Habib Bank AG Zurich
Jamal Abdul Nasser Square
PO Box: 3306
Dubai
Tel : (971-4) 3232212
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Yusuf Karam Trading Est commenced operations in September 2002 and is engaged in the import and retail of general merchandise.
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 company is considered to be a fair trade risk.
Maximum suggested credit figure: US$ 100,000
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. |
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%)