MIRA
INFORM REPORT
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Report Date : |
24.10.2007 |
IDENTIFICATION DETAILS
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Name : |
JAYINEE FOODSTUFF TRADING EST |
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Registered Office : |
New Fruits Market, P O Box – 539, Sharjah, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
21.06.1997 |
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Com. Reg. No.: |
30237, Sharjah |
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Legal Form : |
Mouassasa Khassa (Sole Proprietorship) |
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Line of Business : |
Engaged in the wholesale and retail of fruit and
vegetables |
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 : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : JAYINEE FOODSTUFF TRADING EST
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 21st June 1997
Commercial Registration Number : 30237, Sharjah
Trade Licence Number : 122332
Membership Number : 40037
Invested Capital : UAE Dh 80,000
Total Workforce : 5
Line of Business : Wholesalers and retailers of fruit and vegetables.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
JAYINEE FOODSTUFF TRADING EST
ADDRESS
Registered & Physical Address
Location : New Fruits Market
PO Box : 539
Town : Sharjah
Country :
Telephone : (971-6) 5432078
Facsimile : (971-6) 5432079
Email : naichalath@yahoo.com
Premises
Subject operates from a small suite of offices and a showroom that are rented and located in the Central Business Area of Sharjah.
KEY PRINCIPALS
Mohamed Hamd Obaid Hamd Proprietor & General Manager
M Damodar Sales Manager
LEGAL FORM &
OWNERS
Date of Establishment : 21st June 1997
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 30237, Sharjah
Trade Licence No. : 122332 (Expires 1st June 2008)
Membership No. : 40037
Invested Capital : UAE Dh 80,000
Mr Mohamed Hamd Obaid 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 wholesale and retail of fruit and vegetables.
Import Countries :
Operating Trend : Steady
Subject has a workforce of 5 employees.
FINANCIAL
HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency :
Year Ending 31/12/05 : Year Ending 31/12/06 :
Total Revenue UAE Dh 4,260,000 UAE Dh 4,600,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Abu Dhabi Commercial Bank
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 1997, subject is owned and managed by Mr Mohamed Hamd Obaid Hamd who is well respected in the local business community.
Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the business is deemed a fair trade risk and the above credit figure is considered 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. |
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%)