MIRA
INFORM REPORT
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Report Date : |
17.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
HADIR INTERNATIONAL TRADE AGENCY |
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Registered Office : |
Humaid Mohamed
Building, Zayed 1st Street, PO Box
6550, 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 : |
30th April 2000 |
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Com. Reg. No.: |
43793, Abu Dhabi |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Commercial Agents Specialising
in Gas and Oilfield Equipment and Machinery |
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 : HADIR INTERNATIONAL TRADE AGENCY
Country of Origin : Abu Dhabi, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 30th April 2000
Commercial Registration Number : 43793, Abu Dhabi
Trade Licence Number : 1015801
Chamber Membership Number : 81713
Invested Capital : UAE Dh 50,000
Total Workforce : 8
Activities : Commercial agents specialising in gas & oilfield equipment and machinery
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
HADIR INTERNATIONAL
TRADE AGENCY
ADDRESS
Registered & Physical Address
Building : Humaid Mohamed Building
Street : Zayed 1st Street
PO Box : 6550
Town : Abu Dhabi
Country : United Arab Emirates
Telephone : (971-2) 6216616
Facsimile : (971-2) 6218020
Email : haderaj@hotmail.com
Premises
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Abu Dhabi.
KEY PRINCIPALS
Name Position
·
Hader
Khalaf Mohamed Al Muhairi Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 30th
April 2000
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 43793, Abu
Dhabi
Trade Licence No. : 1015801
(Expires 09/07/2009)
Chamber Member No. : 81713
Invested Capital
: UAE Dh 50,000
Mr Hader Khalaf Mohamed Al Muhairi is the sole proprietor
of the business.
OPERATIONS
Activities: Engaged as commercial
agents specialising in gas and oilfield equipment and machinery.
Import
Countries: India, Spain and
the United States of America
Operating Trend: Steady
Subject has a
workforce of 8 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 7,300,000 UAE Dh 8,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
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Abu
Dhabi Commercial Bank
Abu Dhabi Commercial Bank Building
Al Salam Street
PO Box : 939
Abu Dhabi
Tel : (971-2) 6962222 / 6962222
Fax : (971-2) 6776499 / 6776499
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.47.33 |
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UK Pound |
1 |
Rs.73.92 |
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Euro |
1 |
Rs.66.69 |
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%)