MIRA
INFORM REPORT
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Report Date : |
05.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
TALAL SUPERMARKET |
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Registered Office : |
Yaseen Abdullah Alkhaja Building, Naif Street, Al Daghaya, PO Box
14528, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
29.01.1984 |
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Com. Reg. No.: |
9753, Dubai |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Operators of a Chain of Supermarkets |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : TALAL SUPERMARKET
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 29th January 1984
Commercial Registration Number : 9753, Dubai
Trade Licence Number : 202373
Membership Number : 11342
Invested Capital : UAE Dh 1,000,000
Total Workforce : 60
Line of Business : Operators of a chain of supermarkets.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
TALAL SUPERMARKET
ADDRESS
Registered & Physical Address
Building : Yaseen
Abdullah Alkhaja Building
Street : Naif Street
Area : Al Daghaya
PO Box : 14528
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2724472
Facsimile : (971-4)
2724032
Email : talalsm@emirates.net.ae
Premises
Subject operates from a small suite of offices and a supermarket that
are rented and located in the Central Business Area of Dubai.
Branch Office (s)
Location Description
·
Al Nahda Road Rented
supermarket
Dubai
·
Hor Al Anz Street Rented
supermarket
Dubai
Tel:
(971-4) 2633620
Fax:
(971-4) 3965613
·
Khalid Ibn Al Waleed Street Rented
supermarket
Dubai
Tel:
(971-4) 3370789
·
Za'Abeel Street Rented
supermarket
Dubai
Tel:
(971-4) 2712737
·
Sheikh Zayed Road Rented
supermarket
Dubai
Tel:
(971-4) 3445972
KEY PRINCIPALS
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Abdul Rahman Abdullah Mohamed Majjan Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of
Establishment : 29th
January 1984
Legal Form : Mouassasa Khassa
(Sole Proprietorship)
Commercial Reg.
No. : 9753, Dubai
Trade Licence No. : 202373 (Expires 15th January
2009)
Membership No. : 11342
Invested Capital : UAE Dh 1,000,000
Mr Abdul Rahman Abdullah Mohamed Majjan 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 as operators of a chain of supermarkets,
selling foodstuffs, cleaning
products and electrical products.
Import Countries : Europe and GCC countries.
Operating Trend : Steady
Subject has a workforce of 60 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
24,150,000 UAE
Dh 27,880,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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Mashreq Bank Plc
Deira Branch
PO Box : 1250
Dubai
Tel : (971-4)
2229131 / 2221134
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
Date of transaction October 2005
Credit amount 52,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
GENERAL COMMENTS
Established in 1984, subject is owned and managed by Mr Abdul Rahman
Abdullah Mohamed Majjan who is well respected in the local business community.
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$ 200,000
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%)