MIRA
INFORM REPORT
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Report Date : |
03.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
SILENCE READYMADE GARMENTS TRADING |
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Registered Office : |
Nasser Abdullah Anwahi Building, Al Suq Al Kabeer Street, Al Bateen,
Murshid Bazar, Deira, PO Box 1441, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
11th December 2000 |
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Com. Reg. No.: |
85455, Dubai |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and retail of textiles, Arab wear, footwear, handbags and leather products, imitation jewellery, giftware, sewing and embroidery requisites. |
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 : |
USD 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : SILENCE READYMADE GARMENTS TRADING
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 11th December 2000
Commercial Registration Number : 85455, Dubai
Trade Licence Number : 522970
Chamber Membership Number : 61456
Invested Capital : UAE Dh 50,000
Total Workforce : 4
Activities : Wholesale and retail of textiles, Arab wear, footwear, handbags and leather products, imitation jewellery, giftware, sewing and embroidery requisites.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : USD 200,000
COMPANY NAME
SILENCE READYMADE GARMENTS TRADING
ADDRESS
Registered & Physical Address
Building : Nasser
Abdullah Anwahi Building
Street : Al Suq Al
Kabeer Street
Area : Al Bateen,
Murshid Bazar, Deira
PO Box : 1441
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2250133
Facsimile : (971-4)
2250133
Mobile : (971-50) 4959820
Email : zainmahe@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 Dubai.
KEY PRINCIPALS
Name Nationality Position
· Mohamed Noor Al
Haj Nasser Abdullah Emirati Proprietor &
General Manager
· Noor
Eddine Kuni Kandi - Assistant
General
Manager
· Abdul
Rahim Kuni Kandi - Sales Manager
LEGAL FORM &
OWNERS
Date of
Establishment : 11th
December 2000
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 85455, Dubai
Trade Licence No. : 522970 (Expires 09/12/2008)
Chamber Member No. : 61456
Invested Capital : UAE Dh 50,000
Mr Mohamed Noor Al Haj Nasser Abdullah is the sole proprietor of the
business.
OPERATIONS
Activities: Engaged in the wholesale and
retail of textiles, Arab wear, footwear, handbags and leather products,
imitation jewellery, giftware, sewing and embroidery requisites.
Import Countries: Pakistan,
India, China
Operating Trend: Steady
Subject has a workforce of 4 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:
Total Sale UAE
Dh 6,280,000 UAE Dh
6,900,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
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Emirates Bank International Ltd
Beniyas Road
Deira
PO Box : 2923
Dubai
Tel : (971-4)
2256256 / 2256900
Fax : (971-4)
2268005 / 2267718
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
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 and
the above credit figure is within subject’s financial means.
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%)