MIRA
INFORM REPORT
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Report Date : |
10.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
CABIR BUILDING MATERIALS & HARDWARE TRADING |
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Registered Office : |
Al
Mulaiaha Area, PO Box 30528, Sharjah |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
08.09.2002 |
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Com. Reg. No.: |
43019, Sharjah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and Distribution of Building
Materials, Hardware and Tools |
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 : CABIR BUILDING MATERIALS & HARDWARE TRADING
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 8th September 2002
Commercial Registration Number : 43019, Sharjah
Trade Licence Number : 516425
Chamber Membership Number : 55618
Invested Capital : UAE Dh 50,000
Total Workforce : 7
Activities : Import and distribution of building materials, hardware and tools
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
CABIR BUILDING
MATERIALS & HARDWARE TRADING
ADDRESS
Registered & Physical Address
Location : Al
Mulaiaha Area
PO Box : 30528
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5652241
Facsimile : (971-6) 5652242
Premises
Subject operates
from a small suite of offices, a showroom and a warehouse that are rented and
located in the Suburban Business Area of Sharjah.
KEY PRINCIPALS
Name Nationality Position
·
Mohamed
Abdullah Mohamed Shareef Zamani Emirati Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 8th
September 2002
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 43019, Sharjah
Trade Licence No. : 516425 (Expires 06/09/2008)
Chamber Member No. : 55618
Invested Capital
: UAE Dh 50,000
Mr Mohamed Abdullah Mohamed Shareef Zamani is the sole
proprietor of the business.
OPERATIONS
Activities: Engaged in the import and distribution of building materials, hardware and tools.
Import
Countries: Japan, Germany
and the United Kingdom
Operating Trend: Steady
Subject has a
workforce of 7 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Sales UAE Dh
10,400,000 UAE Dh
11,750,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
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Emirates Bank
International Ltd
Immigration Road
PO Box : 25090
Sharjah
Tel : (971-6) 733300
Fax : (971-6) 730077
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.43.16 |
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UK Pound |
1 |
Rs.85.51 |
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Euro |
1 |
Rs.67.95 |
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%)