MIRA
INFORM REPORT
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Report Date : |
25.09.2007 |
IDENTIFICATION DETAILS
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Name : |
AL HUSSAINI
FOODSTUFF TRADING EST |
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Registered Office : |
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Country : |
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Date of Incorporation : |
4th June
2006 |
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Com. Reg. No.: |
35054, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the
import and distribution of health foods and nutritional 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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Maximum Credit Limit : |
US$ 50,000 |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : AL HUSSAINI FOODSTUFF
TRADING EST
Country of Origin :
Legal Form :
Sole Proprietorship
Registration Date : 4th
June 2006
Commercial
Registration Number : 35054,
Trade Licence Number : 35054
Membership Number : 43798
Invested Capital : UAE Dh 100,000
Total Workforce : 4
Line of Business :
Distributors of health
foods and nutritional products.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
COMPANY NAME
AL HUSSAINI
FOODSTUFF TRADING EST
ADDRESS
Registered & Physical Address
Building :
PO Box : 384 & 115
Town :
Country :
Telephone : (971-6) 5641659
Facsimile : (971-6) 5695988
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Ajman.
KEY PRINCIPALS
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Abdullah
Bin Othman Bin Abdulrahman Al Hussaini Proprietor
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Sheikh
Ahmed Gure General
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 4th
June 2006
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 35054,
Trade Licence No. : 35054
(Expires 3rd June 2008)
Membership No. : 43798
Invested Capital
: UAE Dh 100,000
Mr Abdullah Bin Othman Bin Abdulrahman Al
Hussaini 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.
AFFILIATED
COMPANIES
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Halal Food Co
PO Box : 9848
Jeddah
Tel : (966-2) 6482945
Fax : (966-2) 6484543
LINE OF BUSINESS
Operations : Engaged in the import and distribution of health foods and nutritional products.
Import Countries
:
Subject has a
workforce of 4 employees.
FINANCIAL
HIGHLIGHTS
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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PO
Box : 915
Tel : (971-6) 7466555
Fax : (971-6) 7466626
Acc No. 9520175836501
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Investigations
undertaken in Ajman 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$ 50,000
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%)