MIRA
INFORM REPORT
|
Report Date : |
10.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
FAKHRUDDIN IBRAHIM AL HINDI EST |
|
|
|
|
Registered Office : |
Abdullah Qambar
Alawadhi Building, Al Bateen Street, Deira, PO Box 1299, Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
03.04.1996 |
|
|
|
|
Com. Reg. No.: |
28053, Sharjah |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Import and Distribution of Bags, Stationery, Perfumes,
Cosmetics, Toys and Novelty Items |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 150,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : FAKHRUDDIN IBRAHIM AL HINDI EST
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 3rd April 1996
Commercial Registration Number : 28053, Sharjah
Trade Licence Number : 120322
Chamber Membership Number : 37554
Invested Capital : UAE Dh 100,000
Total Workforce : 20
Activities : Import and distribution of bags, stationery, perfumes, cosmetics, toys and novelty items
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
FAKHRUDDIN IBRAHIM
AL HINDI EST
ADDRESS
Registered & Physical Address
Building : Abdullah Qambar Alawadhi Building
Street : Al Bateen Street
Area : Deira
PO Box : 1299
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2269911 / 2352790
Facsimile : (971-4) 2255438 / 2352791
Premises
Subject operates from
a medium sized suite of offices and a showroom that are rented and located in
the Central Business Area of Dubai.
Branch Office (s)
Location Description
·
Al Gowair Area Showroom
premises
PO Box 28041
Sharjah
Tel: (971-6) 5631471
KEY PRINCIPALS
Name Position
·
Fakruddin
Ibrahim Al Hindi Proprietor
& General Manager
·
Yousef Hameed Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 3rd
April 1996
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 28053,
Sharjah
Trade Licence No. : 120322
(Expires 30/03/2009)
Chamber Member No. : 37554
Invested Capital
: UAE Dh 100,000
Mr Fakruddin
Ibrahim Al Hindi is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the import and distribution of
bags, stationery, perfumes, cosmetics, toys and novelty items.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 20 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
12,100,000 UAE Dh
12,750,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
HSBC Bank
Middle East
Deira Souk Branch
PO Box : 66
Dubai
Tel : (971-4) 2535000
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Established in
1996, subject is involved in the import and distribution of bags, stationery,
perfumes, cosmetics, toys and novelty items.
According to local
sources subject is making steady progress in the local business market and
nothing detrimental has been reported regarding 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 deemed to be admissible.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.16 |
|
UK Pound |
1 |
Rs.85.51 |
|
Euro |
1 |
Rs.67.95 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)