MIRA
INFORM REPORT
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Report Date : |
01.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL SHIHHI GENERAL TRADING CO |
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Registered Office : |
Ali & Murshid
As Shihhi Building, Umm Ramool, PO Box
1061, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
04.10.1977 |
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Com. Reg. No.: |
46154, Dubai |
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Legal Form : |
General Partnership |
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Line of Business : |
Import and Distribution of General Merchandise |
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 : AL SHIHHI GENERAL TRADING CO
Country of Origin : Dubai, United Arab Emirates
Legal Form : General Partnership
Registration Date : 4th October 1977
Commercial Registration Number : 46154, Dubai
Trade Licence Number : 203695
Chamber Membership Number : 564
Partners Capital : UAE Dh 3,000,000
Total Workforce : 12
Activities : Import and distribution of general merchandise
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
COMPANY NAME
AL SHIHHI GENERAL
TRADING CO
ADDRESS
Registered & Physical Address
Building : Ali & Murshid As Shihhi
Building
Area : Umm Ramool
PO Box : 1061
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2850608 / 2852856 / 2854640 /
2859943
Facsimile : (971-4) 2850608
Email : shihe@emirates.net.ae
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Industrial Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Ali Mohamed
Ahmad Al Shihhe Emirati Managing Partner
·
Murshid
Mohamed Ahmed Al Shihhe Emirati Partner
LEGAL FORM & OWNERS
Date of Establishment : 4th
October 1977
Legal Form :
General Partnership
Commercial Reg. No. : 46154, Dubai
Trade Licence No. : 203695
(Expires 10/02/2010)
Chamber Member No. : 564
Partners Capital : UAE Dh 3,000,000
Name of Partner (s) Percentage
·
Ali Mohamed
Ahmad Al Shihhe 50%
·
Murshid
Mohamed Ahmed Al Shihhe 50%
AFFILIATED COMPANIES
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Al Shihhe
Industry Co LLC
Murshid & Ali Ash Shahi
Building
Umm Ramool
PO Box 1061
Dubai
Tel: (971-4) 2857143
Fax: (971-4) 2852403
Email: alshihhe@eim.ae
OPERATIONS
Activities: Engaged in the import and distribution of general
merchandise, including plastic products and sanitary
ware products.
Import
Countries: Asia and Europe
Subject has a
workforce of 12 employees.
FINANCIAL DATA
Companies
registered in Dubai, United Arab Emirates 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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Commercial
Bank of Dubai
Mankhool Street
PO Box : 2668
Dubai
Tel : (971-4) 3523355
Fax : (971-4) 3527655 / 2524796
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 and the above credit figure is
within subject’s financial means.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.27 |
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UK Pound |
1 |
Rs.86.28 |
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Euro |
1 |
Rs.68.24 |
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%)