MIRA
INFORM REPORT
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Report Date : |
16.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
BAJEL READYMADE GARMENTS |
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Registered Office : |
Mohamed Abdulkarim Az Zarouni Building, 1st Floor, Suite
102, Sikkat Al Khail Street, Al Bateen, Deira, PO Box 1862, 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 : |
14.03.2001 |
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Com. Reg. No.: |
86341, Dubai |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and Retail of Textiles, Readymade Garments, and
Arabic Dress. |
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$ 80,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : BAJEL READYMADE GARMENTS
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 14th March 2001
Commercial Registration Number : 86341, Dubai
Trade Licence Number : 524757
Chamber Membership Number : 62758
Invested Capital : UAE Dh 100,000
Total Workforce : 2
Activities : Wholesale and retail of textiles, readymade garments, and Arabic dress.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 80,000
COMPANY NAME
BAJEL READYMADE GARMENTS
ADDRESS
Registered & Physical Address
Building : Mohamed
Abdulkarim Az Zarouni Building, 1st Floor, Suite 102
Street : Sikkat Al
Khail Street
Area : Al Bateen,
Deira
PO Box : 1862
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2263931
/ 2269930
Facsimile : (971-4)
2291485
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 Yousuf
Jabir Al Ali Emirati Proprietor
& General Manager
· Faizullah
Bander Khalil - Sales Manager
LEGAL FORM & OWNERS
Date of
Establishment : 14th
March 2001
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 86341, Dubai
Trade Licence No. : 524757
Chamber Member No. : 62758
Invested Capital : UAE Dh 100,000
Mr Mohamed Yousuf Jabir Al Ali is
the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of textiles, readymade garments,
and Arabic dress.
Import Countries: India
Operating Trend: Steady
Subject has a workforce of 2 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 1,300,000 UAE Dh
1,500,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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Commercial Bank of Dubai
Mankhool Street
PO Box : 2668
Dubai
Tel : (971-4)
3523355
Fax : (971-4)
3527655 / 2524796
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.
The financial information contained within this report has been verified
by Faizullah Bander Khalil – 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%)