MIRA
INFORM REPORT
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Report Date : |
06.09.2007 |
IDENTIFICATION DETAILS
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Name : |
AL BANOON TRADING |
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Registered Office : |
Villa No. 375, Al Quoz Industrial Area, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
22nd June 2003 |
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Com. Reg. No.: |
113678, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the wholesale and retail of ready made garments for men,
women and children. |
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 : AL BANOON TRADING
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 22nd June 2003
Commercial Registration Number :
113678,
Trade Licence Number : 94137
Membership Number : 22865
Invested Capital : UAE Dh 50,000
Total Workforce : 14
Line of Business : Wholesalers and retailers of ready made garments.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL BANOON TRADING
ADDRESS
Registered & Physical Address
Building : Villa No.
375
Area : Al Quoz
Industrial Area
PO Box : 124107
Town :
Country :
Telephone : (971-4) 3932998
Facsimile : (971-4) 3936544
Email : albanoontrading@yahoo.com
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Industrial Area of Dubai.
KEY PRINCIPALS
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Shehab
Ahmed Proprietor
& General Manager
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Rohit
Sing Assistant
General Manager
LEGAL FORM &
OWNERS
Date of
Establishment : 22nd
June 2003
Legal Form : Mouassasa Khassa
(Sole Proprietorship)
Commercial Reg.
No. : 113678,
Trade Licence No. : 94137 (Expires 22nd June 2008)
Membership No. : 22865
Invested Capital : UAE Dh 50,000
Mr Shehab Ahmed
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 ready made
garments for men, women and children.
Import Countries : Europe and the
Operating Trend : Steady
Subject has a workforce of 14 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
6,180,000 UAE
Dh 6,350,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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Emirates Bank International Ltd
PO Box : 2923
Deira
Tel : (971-4)
3160316
Fax : (971-4)
2264302
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 2003, subject is owned and managed by Mr Shehab Ahmed 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.
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%)