MIRA
INFORM REPORT
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Report Date : |
25.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
REEM AL FALA TRADING |
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Registered Office : |
Moosa Jaafar Ali
Building, Ali Ibn Abi Talib Street, Al Souq Al Kabir, 42986, 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 : |
06.04.1996 |
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Com. Reg. No.: |
36225, Dubai |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesaler and Retailer of Textiles, Readymade Garments, Footwear, Handbags and Leather
Products, Perfumes and Cosmetics, Watches and Spare Parts, Imitation
Jewellery, Giftware, Suitcases and Travel 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 : |
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 : REEM AL FALA TRADING
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 6th April 1996
Commercial Registration Number : 36225, Dubai
Trade Licence Number : 241382
Chamber Membership Number : 38058
Invested Capital : UAE Dh 100,000
Total Workforce : 3
Activities : Wholesale and retail of textiles, readymade garments, footwear, handbags and leather products, perfumes and cosmetics, watches and spare parts, imitation jewellery, giftware, suitcases and travel requisites.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
REEM AL FALA
TRADING
ADDRESS
Registered & Physical Address
Building : Moosa Jaafar Ali Building
Street : Ali Ibn Abi Talib Street
Area : Al Souq Al Kabir
PO Box : 42986
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3535452
Facsimile : (971-4) 3530844
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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Obaid Saeed
Rashid Khilfan Al Shamsi Emirati Proprietor &
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 6th
April 1996
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 36225, Dubai
Trade Licence No. : 241382
Chamber Member No. : 38058
Invested Capital
: UAE Dh 100,000
Mr Obaid Saeed
Rashid Khilfan Al Shamsi is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of
textiles, readymade garments, footwear, handbags and leather
products, perfumes and cosmetics, watches and spare parts, imitation
jewellery, giftware, suitcases and travel requisites.
Import
Countries: India, China and
Europe.
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 4,300,000 UAE Dh 4,900,000
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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Bank of Baroda
PO Box : 3162
Dubai
Tel : (971-4) 5531955
Fax : (971-4) 5536962
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%)