MIRA
INFORM REPORT
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Report Date : |
15.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL AWLAWEYAH BUILDING MATERIALS TRADING |
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Registered Office : |
Industrial Area No. 13, PO Box
24527 & 21914, Sharjah |
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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 : |
05.02.2002 |
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Com. Reg. No.: |
41915, Sharjah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and Retail of Building
Materials, Foundry Materials as well as Fire Bricks. |
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$ 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 : AL AWLAWEYAH BUILDING MATERIALS TRADING
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 5th February 2002
Commercial Registration Number : 41915, Sharjah
Trade Licence Number : 514257
Chamber Membership Number : 54218
Invested Capital : UAE Dh 70,000
Total Workforce : 4
Activities :
Wholesale and retail of building materials, foundry
materials as well as fire bricks.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
AL AWLAWEYAH BUILDING MATERIALS TRADING
ADDRESS
Registered & Physical Address
Location : Industrial
Area No. 13
PO Box : 24527 &
21914
Town : Sharjah
Country : United Arab
Emirates
Telephone : (971-6) 5347872
Facsimile : (971-6)
5347873
Mobile : (971-50) 5693401
Email : info@al-awlaweyah.com
Premises
Subject operates from a small suite of offices, a warehouse and a
showroom that are rented and located in the Industrial Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
· Omran
Salim Saleh Abdullah Emirati Proprietor
· Kamran
Mufti - General
Manager
· Wassim
Mohamed - Sales
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 5th
February 2002
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 41915, Sharjah
Trade Licence No. : 514257
Chamber Member No. : 54218
Invested Capital : UAE Dh 70,000
Mr Omran Salim Saleh Abdullah is the
sole proprietor of the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of
building materials, foundry materials as well as fire bricks.
Import Countries: China and India.
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:
Sales UAE
Dh 7,180,000 UAE Dh
7,900,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
Emirates Bank International Ltd
Immigration Road
PO Box : 25090
Sharjah
Tel : (971-6)
733300
Fax : (971-6)
730077
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.
The financial information given in this report has been
confirmed by Mr Wassim Mohamed – Sales Manager.
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%)