MIRA
INFORM REPORT
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Report Date : |
01.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
ARABIAN GENERAL TRADING FZE |
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Registered Office : |
Saif Zone, PO Box 121529, Sharjah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
06.01.2008 |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Distributors of
General Merchandise. |
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$ 10,000 |
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Status : |
New Company |
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Payment Behaviour : |
So Far Correct |
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Litigation : |
Clear |
SUMMARY
Company Name : ARABIAN GENERAL
TRADING FZE
Country of Origin : Sharjah,
United Arab Emirates
Legal Form :
Sole Proprietorship
Registration Date : 6th
January 2008
Trade Licence Number : 05647
Invested Capital : UAE Dh
100,000
Total Workforce : 1
Line of Business :
Distributors of general merchandise.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
COMPANY NAME
ARABIAN GENERAL TRADING FZE
ADDRESS
Registered & Physical Address
Location : Saif Zone
PO Box : 121529
Town : Sharjah
Country : United Arab
Emirates
Mobile : (971-50)
1472082
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Saif Zone Area of Sharjah.
KEY PRINCIPALS
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Jay Dutta Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of
Establishment : 6th
January 2008
Legal Form : Mouassasa Khassa (Sole
Proprietorship)
Trade Licence No. : 05647 (Expires 5th January 2009)
Invested Capital : UAE Dh 100,000
Mr Jay Dutta is the sole proprietor of the business.
Note to the Legal Form
Commonly referred to as an establishment, the Company Law defines
Mouassasa Khassa as the business of an individual where liability for all debts
is unlimited. The business is the entire responsibility of its proprietor, who
is liable for all its debts to the extent of his entire wealth. There are no
legal requirements concerning the amount of capital of a sole proprietor.
LINE OF BUSINESS
Operations : Engaged in the import and distribution of general
merchandise.
Import Countries : Europe and the Far East.
Subject has a workforce of 1 employee.
FINANCIAL HIGHLIGHTS
Subject is a newly formed business and as a result financial information
is not currently available.
BANKERS
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Standard Chartered Bank
Al Boorj Avenue
PO Box : 5
Sharjah
Tel : (971-6)
5357788
Fax : (971-6)
5543604
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
Investigations undertaken in Sharjah did not reveal any sign of payment defaults
or delays during initial trading stages, and subject is believed to meet its
payment obligations in a timely manner, nevertheless, and in view of the
company’s infancy and the lack of a more consistent payment and financial
record, a measure of caution is advisable and a close monitoring of subject’s
business development is recommended.
Maximum suggested credit figure: US$ 10,000
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%)