MIRA
INFORM REPORT
|
Report Date : |
13.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
POWER BUILDING MATERIALS TRADING EST |
|
|
|
|
Registered Office : |
Najda Street, PO
Box 47703, Abu Dhabi |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
14.03. 1989 |
|
|
|
|
Com. Reg. No.: |
29030, Abu Dhabi |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Import and Distribution of Building Materials, Electrical
Appliances, Paints and Sanitary Ware Products |
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$ 200,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : POWER BUILDING MATERIALS TRADING EST
Country of Origin : Abu Dhabi, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 14th March 1989
Commercial Registration Number : 29030, Abu Dhabi
Trade Licence Number : 1018111
Chamber Membership Number : 72025
Invested Capital : UAE Dh 30,000
Total Workforce : 12
Activities : Import and distribution of building materials, electrical appliances, paints and sanitary ware products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
POWER BUILDING
MATERIALS TRADING EST
ADDRESS
Registered & Physical Address
Location : Najda Street
PO Box : 47703
Town : Abu Dhabi
Country : United Arab Emirates
Telephone : (971-2) 6315932 / 6214521
Facsimile : (971-2) 6315961 / 6212537
Mobile : (971-50) 4450125
Email : powerbm@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 Abu Dhabi.
KEY PRINCIPALS
Name Nationality Position
·
Mohan
Kotholoth Vallpil Indian Proprietor
& General Manager
·
Rajan
Kotholoth Vallpil Indian Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 14th
March 1989
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 29030, Abu
Dhabi
Trade Licence No. : 1018111
Chamber Member No. : 72025
Invested Capital
: UAE Dh 30,000
Mr Mohan Kotholoth Vallpil is the sole proprietor of
the business. Mr Mohan Kotholoth Vallpil is an Indian national and as such
he operates in Abu Dhabi under the local sponsorship of Abdullah Saleem Khalifa
Kenaish.
OPERATIONS
Activities: Engaged in the import and distribution of
building materials, electrical appliances, paints and sanitary ware products.
Import
Countries: India, China and
Italy
Operating Trend: Steady
Subject has a
workforce of 12 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 7,150,000 UAE Dh 7,600,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr Rajan Kotholoth Vallpil,
Assistant General Manager.
BANKERS
·
Middle East
Bank Ltd
PO Box : 46077
Abu Dhabi
Tel : (971-2) 6464000
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
|
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%)