MIRA
INFORM REPORT
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Report Date : |
02.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL QAMARAN TRADING |
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Registered Office : |
Hamdiya
Park Street, PO Box 1548,
Ajman |
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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 : |
2002 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and Retail of Scarves
and Textile. |
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 QAMARAN TRADING
Country of Origin : Ajman, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 2002
Invested Capital : UAE Dh 50,000
Total Workforce : 5
Activities : Wholesale and retail of scarves and textile.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
AL QAMARAN TRADING
ADDRESS
Registered & Physical Address
Location : Hamdiya
Park Street
PO Box : 1548
Town : Ajman
Country : United Arab Emirates
Telephone : (971-6) 7434620
Facsimile : (971-6) 7434621
Mobile : (971-50) 4995830
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Ajman.
KEY PRINCIPALS
Name Nationality Position
·
Murtaga
Aterwala
Indian Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 2002
Legal Form :
Sole Proprietorship
Invested Capital
: UAE Dh 50,000
Mr Murtaga Aterwala is the sole proprietor of the
business.
OPERATIONS
Activities: Engaged in the wholesale and retail of scarves and textile.
Import Countries: Indian, Pakistan and China
Operating Trend: Steady
Subject has a
workforce of 5 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 8,250,000 UAE Dh 9,100,000
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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Abu
Dhabi Commercial Bank
PO Box : 1843
Ajman
Tel
: (971-6) 7443444
Fax
: (971-6) 7443300
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.
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%)