MIRA
INFORM REPORT
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Report Date : |
18.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
LEKSHMI FASHION |
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Registered Office : |
Al Nakheel
Centre, Al Khaleej Street, Al Daghaya, PO Box 33371, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
20.09.2004 |
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Com. Reg. No.: |
104000 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of ready made garments, textiles, footwear and travel requisites |
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 : LEKSHMI FASHION
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 20th September 2004
Commercial Registration Number : 104000, Dubai
Trade Licence Number : 561328
Membership Number : 91016
Invested Capital : UAE Dh 100,000
Total Workforce : 4
Line of Business : Distributors of ready made garments, textiles,
footwear and travel requisites.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
LEKSHMI FASHION
ADDRESS
Registered & Physical Address
Building : Al Nakheel Centre
Street : Al Khaleej Street
Area : Al Daghaya
PO Box : 33371
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2350762
Facsimile : (971-4) 2350762
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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Mahir Abdullah Haider Bin Haider Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of
Establishment : 20th
September 2004
Legal Form : Mouassasa Khassa
(Sole Proprietorship)
Commercial Reg.
No. : 104000, Dubai
Trade Licence No. : 561328
Membership No. : 91016
Invested Capital : UAE Dh 100,000
Mr Mahir Abdullah Haider Bin Haider 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, textiles, footwear and travel
requisites.
Import Countries : Europe and the Far East.
Operating Trend : Steady
Subject has a workforce of 4 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
3,800,000 UAE
Dh 4,490,000
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
Established in 2004, subject is involved in the import and distribution of
ready made garments, textiles, footwear and travel requisites.
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.
Please note that is no company called “Laxmi Fashion LLC” registered
with the Dubai Chamber of Commerce. The PO Box number 34846 provided belongs to
a company called “LM Trading LLC”.
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%)