MIRA
INFORM REPORT
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Report Date : |
23.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
DAOUD QADRI TRADING CO LLC |
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Registered Office : |
Shop No. 68, Souq
Al Wasl, Murshid Bazaar, Deira, PO Box 30637 & 41822, 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 : |
29.12. 1996 |
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Com. Reg. No.: |
48239, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Wholesaler and Retailer of Textiles and Scarves |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : DAOUD QADRI TRADING CO LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 29th December 1996
Commercial Registration Number : 48239, Dubai
Trade Licence Number : 244682
Chamber Membership Number : 41725
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 10
Activities : Wholesale and retail of textiles and scarves
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
DAOUD QADRI TRADING
CO LLC
ADDRESS
Registered & Physical Address
Building : Shop No. 68
Area : Souq Al Wasl, Murshid Bazaar,
Deira
PO Box : 30637 & 41822
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2275721 / 2256507
Facsimile : (971-4) 2257458
Email : aqadri@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
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Ahmad Najeh
Daoud Qadri Jordanian Managing Director
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Ibrahim Daoud
Hamdan Qadri Jordanian Director
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Marwan Daoud
Hamdan Qadri Jordanian Director
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Ashraf Mohamed
Amin Daoud Qadri Jordanian Director
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Daoud Ibrahim
Daoud Qadri Jordanian Director
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Khalid Saqr
Khalfan Saeed Bukhamas Al Marri Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 29th
December 1996
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 48239, Dubai
Trade Licence No. : 244682
Chamber Member No. : 41725
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Khalid Saqr
Khalfan Saeed Bukhamas Al Marri 51%
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Ibrahim Daoud
Hamdan Qadri 10%
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Marwan Daoud
Hamdan Qadri 10%
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Ashraf Mohamed
Amin Daoud Qadri 10%
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Ahmad Najeh
Daoud Qadri 10%
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Daoud Ibrahim
Daoud Qadri 9%
OPERATIONS
Activities: Engaged in the wholesale and retail of
textiles and scarves
Import
Countries: Pakistani and
China.
Operating Trend: Steady
Subject has a
workforce of 10 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 Sales UAE Dh 6,800,000 UAE Dh 7,105,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Arab Bank Plc
Ittihad Street
PO Box : 11364
Dubai
Tel : (971-4) 2228845
Fax : (971-4) 2285974 / 2940847
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
company 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%)