MIRA
INFORM REPORT
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Report Date : |
05.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
GREAT EMPORIUM |
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Registered Office : |
Al Khaleej Road, PO Box 20756, Sharjah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
28.06.1978 |
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Com. Reg. No.: |
2304, Sharjah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer and Distributors of Fresh and Frozen Meat |
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 : GREAT EMPORIUM
Also Known As : AL MAHALAT AL KOBRA
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 28th June 1978
Commercial Registration Number : 2304, Sharjah
Trade Licence Number : 16505
Membership Number : 4538
Invested Capital : UAE Dh 150,000
Total Workforce : 9
Line of Business : Distributors of fresh and frozen meat.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
GREAT EMPORIUM
ALSO KNOWN AS
AL MAHALAT AL KOBRA
ADDRESS
Registered & Physical Address
Location : Al Khaleej
Road
PO Box : 20756
Town : Sharjah
Country : United Arab
Emirates
Telephone : (971-6) 5654632
Facsimile : (971-6)
5650041
Email : algreat@emirates.net.ae
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Central Business Area of Sharjah.
KEY PRINCIPALS
·
Ali Hassan Rashid Proprietor
& General Manager
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Abdullatif Mayan Assistant
General Manager
LEGAL FORM & OWNERS
Date of
Establishment : 28th
June 1978
Legal Form : Mouassasa Khassa
(Sole Proprietorship)
Commercial Reg.
No. : 2304, Sharjah
Trade Licence No. : 16505
Membership No. : 4538
Invested Capital : UAE Dh 150,000
Mr Ali Hassan Rashid 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 fresh
and frozen meat.
Import Countries : Pakistan and India.
Operating Trend : Steady
Subject has a workforce of 9 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
5,200,000 UAE
Dh 5,750,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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National Bank of Sharjah
Al Boorj Avenue
PO Box :
4
Sharjah
Tel :
(971-6) 5547747
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1978, subject is owned and managed by Mr Ali Hassan
Rashid who is well respected in the local business community.
According to local sources subject is making steady progress in the
local business market and nothing detrimental has been reported regarding the
manner in which payments are fulfilled. As such the business is considered to
be a fair trade risk.
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%)