MIRA
INFORM REPORT
|
Report Date : |
02.04.2008 |
IDENTIFICATION
DETAILS
|
Name : |
MUNEEB TRADING CO LLC |
|
|
|
|
Registered Office : |
Abdulwahid Fikri Building, Al Suq Al Kabeer Street, Al Bateen, Deira,
PO Box 81060, Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
18.02.1989 |
|
|
|
|
Com. Reg. No.: |
67073, Dubai |
|
|
|
|
Legal Form : |
Limited Liability
Company - LLC |
|
|
|
|
Line of Business : |
Wholesale and
Retail of General Merchandise, Specialising in Perfumes and Cosmetics |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 200,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : MUNEEB TRADING CO LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 18th
February 1989
Commercial
Registration Number : 67073,
Dubai
Trade Licence Number : 218599
Chamber Membership
Number : 15010
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 5
Activities :
Wholesale and retail of general merchandise, specialising in perfumes and
cosmetics
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 200,000
COMPANY NAME
MUNEEB TRADING CO LLC
ADDRESS
Registered & Physical Address
Building : Abdulwahid
Fikri Building
Street : Al Suq Al
Kabeer Street
Area : Al Bateen,
Deira
PO Box : 81060
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2255903
/ 2290313
Facsimile : (971-4)
2219706 / 2256041
Mobile : (971-50)
Email : munibmz@emirates.net.ae
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
· Maqbool Ahmad
Zahouruddin Pakistani Managing Director
· Mrs Farida Bigem Pakistani Director
· Ahmad Saeed
Abdullah Al Seqatri Emirati Director
· Munib
Maqbool Ahmed Zaharuddine Pakistani Commercial Manager
LEGAL FORM & OWNERS
Date of
Establishment : 18th
February 1989
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 67073, Dubai
Trade Licence No. : 218599
Chamber Member No. : 15010
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Ahmad Saeed
Abdullah Al Seqatri 51%
· Maqbool Ahmad
Zahouruddin 25%
· Mrs Farida Bigem 24%
OPERATIONS
Activities: Engaged in the wholesale and retail of general merchandise,
specialising in perfumes and cosmetics,
toiletries, agar wood and incense.
Import Countries: India, Pakistan and France.
Operating Trend: Steady
Subject has a workforce of 5 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Sales UAE
Dh 7,300,000 UAE Dh
7,850,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
Union National Bank
Baniyas Street
PO Box : 6811
Dubai
Tel : (971-4)
2211188
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
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 company is considered to be a fair trade risk and
the above credit figure is within subject’s financial means.
The financial information contained in the report was
confirmed by Mr Munib Maqbool Ahmed Zaharuddine – Commercial Manager.
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)