MIRA
INFORM REPORT
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Report Date : |
25.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL UROOJ BUILDING MATERIALS EST |
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Registered Office : |
Madina
Zayed Area, PO Box 47308, Abu
Dhabi |
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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 : |
31.10. 1995 |
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Com. Reg. No.: |
45722 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer and Distributor of Building Materials and
Construction Equipment |
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 : AL UROOJ BUILDING MATERIALS EST
Country of Origin : Abu Dhabi, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 31st October 1995
Trade Licence Number : 1031055
Chamber Membership Number : 45722
Invested Capital : UAE Dh 100,000
Total Workforce : 7
Activities :Import and distribution of building materials and construction equipment.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
AL
UROOJ BUILDING MATERIALS EST
ADDRESS
Registered & Physical Address
Location : Madina
Zayed Area
PO Box : 47308
Town : Abu Dhabi
Country : United Arab Emirates
Telephone : (971-2) 6322559
Facsimile : (971-2) 6322750
Mobile : (971-50) 647618
Email : aluroojuae@hotmail.com
Premises
Subject operates
from a small suite of offices, a warehouse and a showroom that are rented and
located in the Suburban Business Area of Abu Dhabi.
KEY PRINCIPALS
Name Position
·
Mohamed
Zaiullah Khan Proprietor
& General Manager
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Mohamed
Khalid Sales
Manager
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Yasser
Mohamed Administrative
Officer
LEGAL FORM & OWNERS
Date of Establishment : 31st
October 1995
Legal Form :
Sole Proprietorship
Trade Licence No. : 1031055
Chamber Member No. : 45722
Invested Capital
: UAE Dh 100,000
Mr Mohamed Zaiullah Khan is the sole proprietor of the
business. Mr Mohamed Zaiullah Khan is an Indian
national who operates in Abu Dhabi under the local sponsorship of Mr Abdullah
Ali Abdullah Ahmed.
OPERATIONS
Activities: Engaged in the import and distribution of
building materials and construction equipment.
Import
Countries: China and India
Operating Trend: Steady
Subject has a
workforce of 7 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 4,800,000
Local sources
consider subject’s financial condition to be Fair.
The financial
information was confirmed by Mr Mohamed Khalid –
Sales Manager
BANKERS
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National Bank
of Abu Dhabi
Sheikh Khalifa Street
PO Box : 4
Abu Dhabi
Tel : (971-2) 6345777 / 6327113 / 6335262
Fax : (971-2) 6336078
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%)