MIRA
INFORM REPORT
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Report Date : |
15.10.2007 |
IDENTIFICATION DETAILS
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Name : |
BIN KARAM
JEWELLERY |
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Registered Office : |
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Country : |
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Date of Incorporation : |
13th August 2007 |
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Com. Reg. No.: |
1014817, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the
import and distribution of jewellery, precious stones, watches and crystal products. |
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. |
Small |
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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : BIN KARAM JEWELLERY
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 13th August 2007
Commercial Registration Number :
1014817,
Trade Licence Number : 599327
Membership Number : 122741
Invested Capital : UAE Dh 100,000
Total Workforce : 3
Line of Business : Distributors of jewellery, precious stones, watches
and crystal products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
BIN KARAM JEWELLERY
ADDRESS
Registered & Physical Address
Building :
Area : Al Daghaya
PO Box : 51377
Town :
Country :
Telephone : (971-4) 2263384
Facsimile : (971-4) 2255685
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
KEY PRINCIPALS
·
Yousuf
Karam Ali Mohamed Bin Karam Proprietor
& General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 13th
August 2007
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 1014817,
Trade Licence No. : 599327
Membership No. :
122741
Invested Capital
: UAE Dh 100,000
Mr Yousuf Karam Ali
Mohamed Bin Karam 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 jewellery,
precious stones, watches and crystal products.
Import Countries
: Europe and the
Subject has a
workforce of 3 employees.
FINANCIAL
HIGHLIGHTS
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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National
Bank of
Tel : (971-4) 3971700 / 5078300
Fax : (971-4) 3979100 / 3973922
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit
figure of US$ 150,000:
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.
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%)