MIRA
INFORM REPORT
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Report Date : |
11.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL SEER TRADING AGENCIES |
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Registered Office : |
Ali Saeed Al
Bawardi Building, Khalid Ibn Al Waleed Street, Al Mankhool, PO Box 31587
& 6647, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
17.03.1982 |
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Com. Reg. No.: |
7733, Dubai |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and Distribution of Fast Moving Consumer Goods |
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$ 500,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL SEER TRADING AGENCIES
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 17th March 1982
Commercial Registration Number : 7733, Dubai
Trade Licence Number : 202794
Chamber Membership Number : 8975
Invested Capital : UAE Dh 3,000,000
Total Workforce : 200
Activities : Import and distribution of fast moving consumer goods
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 500,000
COMPANY NAME
AL SEER TRADING
AGENCIES
ADDRESS
Registered & Physical
Address
Building : Ali Saeed Al Bawardi Building
Street : Khalid Ibn Al Waleed Street
Area : Al Mankhool
PO Box : 31587 & 6647
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3556420 / 3555250
Facsimile : (971-4) 3555282
Email : chandras@spinneys-dubai.com
Premises
Subject operates
from a large suite of offices that are owned and located in the Central
Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Ali Saeed Juma
Al Bawardy Emirati Proprietor
LEGAL FORM & OWNERS
Date of Establishment : 17th
March 1982
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 7733, Dubai
Trade Licence No. : 202794
(Expires 14/03/2009)
Chamber Member No. : 8975
Invested Capital
: UAE Dh 3,000,000
Mr Ali Saeed Juma
Al Bawardy is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the import and distribution of fast
moving consumer goods such as foodstuff and beverages, cosmetics and healthcare
products.
Import
Countries: Europe, United
States of America and Asia
Subject has a
workforce of approximately 200 employees.
FINANCIAL DATA
Companies
registered in Dubai are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
BANKERS
·
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.42.72 |
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UK Pound |
1 |
Rs.84.42 |
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Euro |
1 |
Rs.67.38 |
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%)