MIRA
INFORM REPORT
|
Report Date : |
09.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
OBAID SUROOR TRADING ESTABLISHMENT |
|
|
|
|
Registered Office : |
Rahmah Bin Matar Albadoor Building, Sikkat Al Khail Street, PO Box
51619, Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
02.10.1989 |
|
|
|
|
Com. Reg. No.: |
18571, Dubai |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Distributors of gifts, watches, perfumes, cosmetics,
handbags, leather products, shoes, ready made garments and textiles. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 150,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : OBAID SUROOR TRADING ESTABLISHMENT
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 2nd October 1989
Commercial Registration Number : 18571, Dubai
Trade Licence Number : 220805
Membership Number : 17203
Invested Capital : UAE Dh 100,000
Total Workforce : 5
Line of Business : Distributors of gifts, watches, perfumes,
cosmetics, handbags, leather products, shoes,
ready made garments and textiles.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
OBAID SUROOR TRADING ESTABLISHMENT
ADDRESS
Registered & Physical Address
Building : Rahmah Bin Matar
Albadoor Building
Street : Sikkat Al
Khail Street
Area : Al Bateen
PO Box : 51619
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2266916
Facsimile : (971-4)
2256927
Email : bharat@emirates.net.ae
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Dubai.
KEY PRINCIPALS
·
Abdullah Obaid Suroor Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of
Establishment : 2nd
October 1989
Legal Form : Mouassasa Khassa
(Sole Proprietorship)
Commercial Reg.
No. : 18571, Dubai
Trade Licence No. : 220805
Membership No. : 17203
Invested Capital : UAE Dh 100,000
Mr Abdullah Obaid Suroor 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 gifts, watches, perfumes,
cosmetics,
handbags, leather products, shoes, ready made garments and textiles.
Import Countries : Europe and the Far East.
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
8,100,000 UAE
Dh 8,350,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
Bank of Baroda
PO Box : 3162
Dubai
Tel : (971-4)
5531955
Fax : (971-4)
5536962
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
Established in 1989, subject is owned and managed by Mr Abdullah Obaid
Suroor who is well respected in the local business community.
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 and the
above credit figure is deemed to be within subject’s financial means.
Maximum suggested credit figure: US$ 150,000
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)