MIRA
INFORM REPORT
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Report Date : |
16.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL HUSAMI COMPANIES REPRESENTATION EST |
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Registered Office : |
Airport Road, P O
Box 3463, Abu Dhabi |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
03.07.2006 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Commercial agents as well as offering company representation services |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 80,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL HUSAMI COMPANIES REPRESENTATION EST
Country of Origin : Abu Dhabi, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 3rd July 2006
Trade Licence Number : 1005175
Chamber Membership Number : 166952
Invested Capital : UAE Dh 150,000
Total Workforce : 25
Activities : Commercial agents as well as offering company representation services
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 80,000
COMPANY NAME
AL HUSAMI COMPANIES
REPRESENTATION EST
ADDRESS
Registered &
Physical Address
Location : Airport Road
PO Box : 3463
Town : Abu Dhabi
Country : United Arab Emirates
Telephone : (971-2) 6333705
Facsimile : (971-2) 6346570
Email : tarek@emirates.net.ae
Premises
Subject operates from
a medium sized suite of offices that are rented and located in the Central
Business Area of Abu Dhabi.
KEY PRINCIPALS
Name Position
·
Fouad
Al Jabari Proprietor
& General Manager
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Tarik
Mahmoud Assistant General Manager
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Hassan
Sahour Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 3rd
July 2006
Legal Form :
Sole Proprietorship
Trade Licence No. : 1005175
(Expires 14/01/2009)
Chamber Member No. : 166952
Invested Capital
: UAE Dh 150,000
Mr Fouad Al Jabari is the sole proprietor of the
business.
OPERATIONS
Activities: Engaged as commercial agents as well as
offering company representation services.
Subject has a
workforce of 25 employees.
FINANCIAL DATA
Companies registered
in Abu Dhabi are not legally required to make their accounts public and no
financial information was released by the company or submitted by outside
sources.
BANKERS
·
Bank of Beirut
Riad El Solh
Lebanon
Acc No. 652328
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Emirates Bank
International Ltd
PO Box 47676
Abu Dhabi
Tel: (971-2) 6224400
Fax: (971-2) 6225520
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.82 |
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UK Pound |
1 |
Rs.73.08 |
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Euro |
1 |
Rs.65.56 |
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%)