MIRA
INFORM REPORT
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Report Date : |
27.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
MOHAMED HASSAN AL BALOOSHI GENERAL TRADING LLC |
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Registered Office : |
Aqil Mustafa Abdun
Noor Building, Naif South Street, Naif, Deira, PO Box 27786, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
19.01.1994 |
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Com. Reg. No.: |
1027636, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Subject operates
with a General Trade Licence and Specialises in the Import and Distribution
of General Merchandise. |
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$ 80,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : MOHAMED HASSAN AL BALOOSHI GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 19th January 1994
Commercial Registration Number : 1027636, Dubai
Trade Licence Number : 233135
Chamber Membership Number : 29235
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 5
Activities : Subject operates with a general trade licence
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 80,000
COMPANY NAME
MOHAMED HASSAN AL
BALOOSHI GENERAL TRADING LLC
ADDRESS
Registered & Physical Address
Building : Aqil Mustafa Abdun Noor Building
Street : Naif South Street
Area : Naif, Deira
PO Box : 27786
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2211786
Facsimile : (971-4) 2211786
Email : cbhaneef@hotmail.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
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Mohamed Hanif
Bava Indian Managing
Director
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Mohamed Hassan
Mohamed Ali Al Balooshi Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 19th
January 1994
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1027636,
Dubai
Trade Licence No. : 233135
(Expires 16/01/2009)
Chamber Member No. : 29235
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder (s) Percentage
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Mohamed Hassan
Mohamed Ali Al Balooshi 51%
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Mohamed Hanif
Bava 49%
OPERATIONS
Activities: Subject operates with a general trade
licence and specialises in the import and distribution of general
merchandise.
Subject has a
workforce of 5 employees.
FINANCIAL DATA
Companies
registered in Dubai, United Arab Emirates are not legally required to make
their accounts public and no financial information was released by the company
or submitted by outside sources.
BANKERS
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Habib Bank AG
Zurich
Baniyas Road
PO Box 3306
Dubai
Tel: (971-4) 2214535
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.43.73 |
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UK Pound |
1 |
Rs.80.57 |
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Euro |
1 |
Rs.64.29 |
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%)