MIRA
INFORM REPORT
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Report Date : |
05.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL MUHARUK PUMPS TRADING |
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Registered Office : |
Al Washa Road, Al
Dhaid, PO Box 12763 & 13251,
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 : |
03.05. 2003 |
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Com. Reg. No.: |
35853, Sharjah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and Distribution of Pumps,
Water Pumps, Valves and related Accessories |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL MUHARUK PUMPS TRADING
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 3rd May 2003
Commercial Registration Number : 35853, Sharjah
Trade Licence Number : 504567
Invested Capital : UAE Dh 100,000
Total Workforce : 25
Activities :
Import and distribution of pumps, water pumps, valves
and related
accessories
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
AL MUHARUK
PUMPS TRADING
ADDRESS
Registered & Physical Address
Street : Al Washa Road
Area : Al Dhaid
PO Box : 12763 & 13251
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 8826979 / 8822790 / 8861335
Facsimile : (971-6) 8828334
Mobile : (971-50) 6793107 / 3014596
Email : muharikpumps@yahoo.com
Premises
Subject operates from
a medium sized suite of offices, a showroom and storage facilities that are
rented and located in the Suburban Business Area of Sharjah
KEY PRINCIPALS
Name Nationality Position
·
Adul
Kant Chowdhury Bengali Proprietor
& General Manager
·
S.
Raja - Administration
Manager
LEGAL FORM & OWNERS
Date of Establishment : 3rd
May 2003
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 35853,
Sharjah
Trade Licence No. : 504567
(Expires 01/05/2009)
Invested Capital
: UAE Dh 100,000
Mr Adul Kant Chowdhury is the sole proprietor of the
business. Mr Adul Kant Chowdhury is a Bengali
national who operates in Sharjah under the local sponsorship of Mr Mohamed
Mosbah Obaid Mohamed Tonaiji.
OPERATIONS
Activities: Engaged in the import and distribution of pumps, water pumps, valves and related accessories.
Import
Countries: India and Italy
International
Suppliers:
·
MB India
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Santos India
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Shakti
Co India
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Varuna India
·
Lowara Italy
Operating Trend: Steady
Subject has a
workforce of 25 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
21,000,000 UAE Dh
24,500,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by S. Raja,
Administration Manager.
BANKERS
·
Mashreq Bank
Plc
Foreign Trade Centre
Al Boorj Avenue
PO Box : 9271
Sharjah
Tel : (971-6) 5351366 / 5354873
Fax : (971-6) 5372903
Acc No. 09-90-15065-9
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
company is considered to be a fair trade risk.
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%)