MIRA
INFORM REPORT
|
Report Date : |
02.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
AL RAD INTERNATIONAL TRADING EST |
|
|
|
|
Registered Office : |
Bank of Baroda
Building, 10th Floor, Suite No. 101, Industrial Area No. 13, PO
Box 20688 & 21357, Sharjah |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
16.10. 1994 |
|
|
|
|
Com. Reg. No.: |
18479, Sharjah |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Import and Distribution of Ready Made Garments, Footwear,
Jewellery, Perfumes, Cosmetics and Toys |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 150,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : AL RAD INTERNATIONAL TRADING EST
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 16th October 1994
Commercial Registration Number : 18479, Sharjah
Trade Licence Number : 35514
Invested Capital : UAE Dh 100,000
Total Workforce : 7
Activities : Import and distribution of ready made garments, footwear, jewellery,
perfumes, cosmetics and toys
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
AL RAD
INTERNATIONAL TRADING EST
ADDRESS
Registered & Physical Address
Building : Bank of Baroda Building, 10th
Floor, Suite No. 101
Area : Industrial Area No. 13
PO Box : 20688 & 21357
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5623666
Facsimile : (971-6) 5543377
Mobile : (971-50) 3699887
Premises
Subject operates
from a small suite of offices that are rented and located in the Industrial
Area of Sharjah.
Branch Office
(s)
Location Description
·
Naser
Square Sales
Office
Dubai
KEY PRINCIPALS
Name Position
·
Sheikh Fahem
Mohamed Khalid Proprietor
& General Manager
·
M.
Vent Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 16th
October 1994
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 18479,
Sharjah
Trade Licence No. : 35514
Invested Capital
: UAE Dh 100,000
Sheikh Fahem
Mohamed Khalid is the sole proprietor of the business.
AFFILIATED COMPANIES
·
Al
Fahem Investment Co
PO Box 30444
Sharjah
Tel: (971-6) 5623666
OPERATIONS
Activities: Engaged in the import and distribution of
ready made garments, footwear, jewellery, perfumes, cosmetics and toys.
Import
Countries: Europe and the
Far East
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 7,800,000 UAE Dh 9,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Standard
Chartered Bank
Al
Boorj Avenue
PO Box 5
Sharjah
Tel: (971-6) 5357788
Fax: (971-6) 5543604
Acc No. 02-5712440-01
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction December
2006
Credit amount 150,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
GENERAL COMMENTS
Established in
1994, subject is owned and managed by Sheikh Fahem Mohamed Khalid who is well
respected in the local business community.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the business is deemed a fair trade risk.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.52 |
|
UK Pound |
1 |
Rs.75.08 |
|
Euro |
1 |
Rs.63.72 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)