MIRA
INFORM REPORT
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Report Date : |
26.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
OMNIYAT PROPERTY DEVELOPMENT CORPORATION |
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Registered Office : |
Burjman Tower, 26th Floor, Bur Dubai, PO Box 121926, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
14.05.2005 |
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Com. Reg. No.: |
106983, Dubai |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Real Estate Agents and Brokers |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : OMNIYAT PROPERTY DEVELOPMENT CORPORATION
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 14th May 2005
Commercial Registration Number : 106983, Dubai
Trade Licence Number : 569110
Membership Number : 97314
Invested Capital : UAE Dh 150,000
Total Workforce : 6
Line of Business : Real estate agents and brokers
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
OMNIYAT PROPERTY DEVELOPMENT CORPORATION
ADDRESS
Registered & Physical Address
Building : Burjman
Tower, 26th Floor
Area : Bur Dubai
PO Box : 121926
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 3063300
/ 3063430
Facsimile : (971-4)
3063333 / 3062666
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
KEY PRINCIPALS
·
Aysha Abdul Mohsen Salman Ali Buhamad Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of
Establishment : 14th
May 2005
Legal Form : Mouassasa Khassa
(Sole Proprietorship)
Commercial Reg.
No. : 106983, Dubai
Trade Licence No. : 569110 (Expires 13/05/2008)
Membership No. : 97314
Invested Capital : UAE Dh 150,000
Mr Aysha Abdul Mohsen Salman Ali Buhamad is the sole proprietor of the
business. Mr Aysha Abdul Mohsen Salman Ali Buhamad is a Kuwaiti national.
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 real estate agents and brokers as well as providing real
estate management services.
Subject has a workforce of 6 employees.
FINANCIAL HIGHLIGHTS
Companies registered in Dubai are not legally required to make their
accounts public and no financial information was released by the company or
submitted by outside sources.
BANKERS
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HSBC Bank Middle East
Deira Souk Branch
PO Box :
66
Dubai
Tel :
(971-4) 2535000
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
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.
Maximum suggested credit figure: US$ 100,000
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%)