MIRA
INFORM REPORT
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Report Date : |
12.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL MAQTA BOOKS TRADING |
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Registered Office : |
37 Naif Bazaar
Centre, Al Nakheel, PO Box 13138,
Dubai |
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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 : |
02.01.1995 |
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Com. Reg. No.: |
32880, Dubai |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and Distribution of Books, Newspapers, Publications,
Stationery, Drawing and Writing Instruments, Invitation and Greeting Cards,
and Paper Products |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL MAQTA BOOKS TRADING
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 2nd January 1995
Commercial Registration Number : 32880, Dubai
Trade Licence Number : 236105
Chamber Membership Number : 32898
Invested Capital : UAE Dh 100,000
Total Workforce : 5
Activities : Import and distribution of books, newspapers, publications, stationery,
drawing and writing instruments, invitation and greeting cards, and paper products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
COMPANY NAME
AL MAQTA BOOKS
TRADING
ADDRESS
Registered & Physical Address
Building : 37 Naif Bazaar Centre
Area : Al Nakheel
PO Box : 13138
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2278492
Facsimile : (971-4) 2289630
Mobile : (971-50) 6243025
Email : almaqta@emirates.net.ae
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Sultan Mohamed
Meftah Obaid Al Shamsi Emirati Proprietor
& General Manager
·
Mohamed Azeem - Assistant
General Manager
·
Saquir Tanweer - Sales
Manager
·
Adel
Mohamed - Administrative
Secretary
LEGAL FORM & OWNERS
Date of Establishment : 2nd
January 1995
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 32880, Dubai
Trade Licence No. : 236105
(Expires 24/10/2008)
Chamber Member No. : 32898
Invested Capital
: UAE Dh 100,000
Mr Sultan Mohamed
Meftah Obaid Al Shamsi is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the import and distribution of
books, newspapers, publications, stationery, drawing and writing instruments,
invitation and greeting cards, and paper products.
Import
Countries: United Kingdom and
the United States of America
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 2,100,000 UAE Dh 2,485,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Saqib Tanweer, Sales
Manager.
BANKERS
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Emirates Bank
International Ltd
Beniyas Road
Deira
PO Box : 2923
Dubai
Tel : (971-4) 2256256 / 2256900
Fax : (971-4) 2268005 / 2267718
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.
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%)