MIRA
INFORM REPORT
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Report Date : |
06.09.2007 |
IDENTIFICATION DETAILS
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Name : |
NASHWAN TECHNICAL
EQUIPMENT |
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Registered Office : |
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Country : |
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Date of Incorporation : |
29th
April 2007 |
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Com. Reg. No.: |
37239, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the
import and distribution of computer hardware and accessories, environment protection
equipment, offshore equipment and machinery, heavy equipment and machinery
spare parts. |
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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Maximum Credit Limit : |
US$ 35,000 |
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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : NASHWAN TECHNICAL
EQUIPMENT
Country of Origin :
Legal Form :
Sole Proprietorship
Registration Date : 29th
April 2007
Commercial
Registration Number : 37239,
Economic Department
Number : 56426
Membership Number : 75705
Invested Capital : UAE Dh
100,000
Total Workforce : 6
Line of Business :
Distributors of computer
hardware and accessories, environment
protection equipment, offshore equipment and
machinery, heavy
equipment and machinery spare parts.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
COMPANY NAME
NASHWAN TECHNICAL
EQUIPMENT
ADDRESS
Registered & Physical Address
Location :
PO Box : 70373
Town :
Country :
Telephone : (971-2) 6748545
Facsimile : (971-2) 6710353
Email : nashind@emirates.net.ae
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Abu Dhabi.
KEY PRINCIPALS
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Abdullah
Al Rabi Proprietor
& General Manager
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Anne
Langlois Al Rabi Marketing
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 29th
April 2007
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 37239,
Economic Dept. No. : 56426
Membership No. : 75705
Invested Capital
: UAE Dh 100,000
Mr Abdullah Al Rabi 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 computer hardware and accessories,
environment protection equipment, offshore equipment and machinery, heavy
equipment and machinery spare parts.
Import Countries
: Europe and the
Subject has a
workforce of 6 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
PO Box : 4
Tel : (971-2) 6345777 / 6327113 / 6335262
Fax : (971-2) 6336078
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 Abu Dhabi 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$ 35,000
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%)