MIRA
INFORM REPORT
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Report Date : |
05.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
FAIR DEAL MARBLES & GRANITE TRADING EST |
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Registered Office : |
Industrial Area No. 15, PO Box
47578 & 5072, Sharjah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
11.12.1999 |
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Com. Reg. No.: |
35189, Sharjah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer and Distributors of Marble and Granite. |
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 : |
Usually Correct |
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Litigation : |
Clear |
SUMMARY
Company Name : FAIR DEAL MARBLES & GRANITE TRADING EST
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 11th December 1999
Commercial Registration Number : 35189, Sharjah
Trade Licence Number : 503639
Membership Number : 47396
Invested Capital : UAE Dh 200,000
Total Workforce : 5
Line of Business : Distributors of marble and granite.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
FAIR DEAL MARBLES & GRANITE TRADING EST
ADDRESS
Registered & Physical Address
Location : Industrial
Area No. 15
PO Box : 47578 &
5072
Town : Sharjah
Country : United Arab
Emirates
Telephone : (971-6) 5650880
/ 5343255
Facsimile : (971-6)
5650880 / 5343266
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Industrial Area of Sharjah.
KEY PRINCIPALS
Name Nationality Position
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Rankajt Kumar Bajaj Indian Proprietor & General Manager
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Walid Shamlan Mohamed Al Shamlan Emirati
Local Sponsor
LEGAL FORM & OWNERS
Date of Establishment : 11th December 1999
Legal Form : Mouassasa Khassa
(Sole Proprietorship)
Commercial Reg.
No. : 35189, Sharjah
Trade Licence No. : 503639 (Expires 11th December
2006)
Membership No. : 47396
Invested Capital : UAE Dh 200,000
Mr Rankajt Kumar Bajaj 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 marble
and granite.
Import Countries : Spain and Italy.
Operating Trend : Steady
Subject has a workforce of 5 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/05: Year
Ending 31/12/06:
Total Revenue UAE Dh
4,160,000 UAE
Dh 4,750,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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Abu Dhabi Commercial Bank
Mina Road
PO Box : 4377
Sharjah
Tel : (971-6)
5737000
Fax : (971-6)
5725331
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
Date of transaction November
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 1999, subject is owned and managed by Mr Rankajt Kumar
Bajaj, an Indian national who operates in Sharjah under the local sponsorship
of Mr Walid Shamlan Mohamed Al Shamlan.
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 and the above credit figure is considered to be within
subject’s financial means.
Maximum suggested credit figure: US$ 150,000
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%)