MIRA
INFORM REPORT
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Report Date : |
10.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
MOHD AWADH
TRADING EST |
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Registered Office : |
Widad Ahmed Saeed
Building, Al Mussalla Street, Deira, P O Box 745 & 171298, Dubai |
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Country : |
United Arab
Emirates |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
29th April 1984 |
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Com. Reg. No.: |
9966, Dubai |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import
and distribution of building materials, hardware, tools and construction
equipment. |
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 : MOHD AWADH TRADING EST
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 29th April 1984
Commercial Registration Number : 9966, Dubai
Trade Licence Number : 205065
Membership Number : 4214
Invested Capital : UAE Dh 100,000
Total Workforce : 3
Line of Business : Distributors of building materials, hardware, tools and construction
equipment.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
MOHD AWADH TRADING
EST
ADDRESS
Registered & Physical Address
Building : Widad Ahmed Saeed Building
Street : Al Mussalla Street
Area : Deira
PO Box : 745 & 171298
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2717133
Facsimile : (971-4) 2727981
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Dubai.
KEY PRINCIPALS
·
Awadh Hamaid Mohamed
Senan Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 29th
April 1984
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 9966, Dubai
Trade Licence No. : 205065
(Expires 17th April 2008)
Membership No. : 4214
Invested Capital
: UAE Dh 100,000
Mr Awadh Hamaid
Mohamed Senan 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
building materials, hardware, tools and construction equipment.
Import Countries
: Europe and GCC countries.
Operating Trend : Steady
Subject has a
workforce of 3 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 Sales UAE Dh 6,280,000 UAE Dh
6,450,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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National Bank
of Dubai
Baniyas Street
PO Box : 777
Dubai
Tel : (971-4) 2222241
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
1984, subject is owned and managed by Mr Awadh Hamaid Mohamed Senan 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$ 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%)