MIRA
INFORM REPORT
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Report Date : |
16.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
SATRAH TRADING EST |
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Registered Office : |
Rashid Humaid Almazrooei Building, Al Ras Street, Al Ras, PO Box 9070
& 26458, 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 : |
1st March 1995 |
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Com. Reg. No.: |
33224, Dubai |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of ready made garments, footwear, jewellery, watches, perfumes, cosmetics and toys. |
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 :
SATRAH TRADING EST
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Sole Proprietorship
Registration Date :
1st March 1995
Commercial Registration Number :
33224, Dubai
Trade Licence Number :
237152
Membership Number :
33336
Invested Capital :
UAE Dh 100,000
Total Workforce :
7
Line of Business :
Distributors of ready made garments, footwear,
jewellery, watches, perfumes, cosmetics and
toys.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
COMPANY NAME
SATRAH TRADING EST
ADDRESS
Registered & Physical Address
Building : Rashid
Humaid Almazrooei Building
Street : Al Ras
Street
Area : Al Ras
PO Box : 9070 &
26458
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2730034
/ 2259807 / 2267451
Facsimile : (971-4)
2719908 / 2264870
Email : satrah@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
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Hussain Ismail Mubarak Khamid Embarkoh Proprietor
& General Manager
LEGAL FORM &
OWNERS
Date of
Establishment : 1st
March 1995
Legal Form : Mouassasa Khassa
(Sole Proprietorship)
Commercial Reg.
No. : 33224, Dubai
Trade Licence No. : 237152 (Expires 28th February
2008)
Membership No. : 33336
Invested Capital : UAE Dh 100,000
Mr Hussain Ismail Mubarak Khamid Embarkoh 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 ready made garments, footwear,
jewellery, watches, perfumes, cosmetics and
toys.
Import Countries : Europe and the
Far East.
Operating Trend : Steady
Subject has a workforce of 7 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
5,080,000 UAE
Dh 5,200,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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Commercial Bank of Dubai
Baniyas Street
PO Box : 1709
Deira
Dubai
Tel : (971-4)
2227121 / 2253222
Fax : (971-4)
2220943 / 2254565
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1995, subject is owned and managed by Mr Hussain Ismail
Mubarak Khamid Embarkoh who is well respected in the local business community.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the business is deemed 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%)