MIRA
INFORM REPORT
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Report Date : |
23.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
RADHA KUNJ TEXTILE TRADING |
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Registered Office : |
Gulab
Building, Al Fahidi Street, Al Souq Al Kabir, Bur Dubai, PO
Box 43102, 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 : |
27.06. 2005 |
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Com. Reg. No.: |
107568, Dubai |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesaler and Retailer of Textiles. |
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 : RADHA KUNJ TEXTILE TRADING
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 27th June 2005
Commercial Registration Number : 107568, Dubai
Trade Licence Number : 570724
Chamber Membership Number : 98689
Invested Capital : UAE Dh 100,000
Total Workforce : 3
Activities : Wholesale and retail of textiles.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
RADHA KUNJ TEXTILE
TRADING
ADDRESS
Registered & Physical Address
Building : Gulab
Building
Street : Al
Fahidi Street
Area : Al Souq Al Kabir, Bur Dubai
PO Box : 43102
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3538380
Facsimile : (971-4) 3536204
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
·
Waled Abdullah
Hussain Majid Al Jawadri Emirati Proprietor
& General Manager
·
Khen
Chandaswani - Assistant
General Manager
·
Jassim
Eddine Mohamed - Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 27th
June 2005
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 107568, Dubai
Trade Licence No. : 570724
(Expires 26/06/2008)
Chamber Member No. : 98689
Invested Capital
: UAE Dh 100,000
Mr Waled Abdullah
Hussain Majid Al Jawadri is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of
textiles.
Import
Countries: China and India
Operating Trend: Steady
Subject has a
workforce of 3 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 2,700,000 UAE Dh 3,200,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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National Bank
of Dubai (NBD)
Baniyas Street
PO Box : 777
Dubai
Tel : (971-4) 2222241
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 contained within the report has been verified by Khen Chandaswani – Assistant General Manager.
Please note the
correct registered PO Box is 43102 and not 41302.
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%)