MIRA
INFORM REPORT
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Report Date : |
01.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
BUSHRA BUILDING MATERIALS TRADING CO LLC |
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Registered Office : |
Industrial Area No. 2, PO Box
23713, Sharjah |
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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 : |
20.04.2002 |
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Com. Reg. No.: |
41815, Sharjah |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Wholesale and Retail of Building
Materials and Construction Supplies |
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 : BUSHRA BUILDING MATERIALS TRADING CO LLC
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 20th April 2002
Commercial Registration Number : 41815, Sharjah
Trade Licence Number : 514042
Chamber Membership Number : 54036
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Total Workforce : 10
Activities : Wholesale and retail of building materials and construction supplies
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
BUSHRA BUILDING MATERIALS TRADING CO LLC
ADDRESS
Registered & Physical Address
Location : Industrial
Area No. 2
PO Box : 23713
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5430552
Facsimile : (971-6)
5430553
Email : albushrabmt@yahoo.com
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Industrial Area of Sharjah.
KEY PRINCIPALS
Name Nationality Position
· Ali
Ahmed Mansouir Ali Emirati Managing Director
· Saif Muhsen
Sourti Indian Director
· Mustafa
Saif Muhsen Sourti Indian Director
· Murtada
Saif Muhsen Sourti Indian Director
LEGAL FORM & OWNERS
Date of
Establishment : 20th
April 2002
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 41815, Sharjah
Trade Licence No. : 514042 (Expires
18/04/2009)
Chamber Member No. : 54036
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Name of Shareholder (s) Percentage
· Ali
Ahmed Mansouir Ali 51%
· Saif Muhsen
Sourti 17%
· Mustafa
Saif Muhsen Sourti 16%
· Murtada
Saif Muhsen Sourti 16%
OPERATIONS
Activities: Engaged in the wholesale and retail of
building materials and construction supplies.
Import Countries: China and India
Brand Names: SMS
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 8,700,000 UAE Dh
9,500,000
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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Habib Bank Ltd
PO Box : 300
Sharjah
Tel : (971-6)
5356116
Fax : (971-6)
5526473
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.37 |
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UK Pound |
1 |
Rs.84.00 |
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Euro |
1 |
Rs.65.96 |
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%)