MIRA
INFORM REPORT
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Report Date : |
12.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
ROYAL TOUCH TRADING CO LLC |
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Registered Office : |
Hussain & Ali
Alluz Building, Shop No. 12, Al Faheidi Street, Al Souq Al Kabir, Bur Dubai, PO
Box 42981, 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 : |
23.07. 1996 |
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Com. Reg. No.: |
49439, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Wholesale and Retail of Textiles |
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 : ROYAL TOUCH TRADING CO LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 23rd July 1996
Commercial Registration Number : 49439, Dubai
Trade Licence Number : 242767
Chamber Membership Number : 39652
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 6
Activities : Wholesale and retail of textiles
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
ROYAL TOUCH TRADING
CO LLC
ADDRESS
Registered & Physical Address
Building : Hussain & Ali Alluz Building,
Shop No. 12
Street : Al Faheidi Street
Area : Al Souq Al Kabir, Bur Dubai
PO Box : 42981
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3533118
Facsimile : (971-4) 3536714
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
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Mohamed Amin
Haji Othman Pakistani Managing Director
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Hawa Abdullah
Hassan Eid Al Balooshi Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 23rd
July 1996
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 49439, Dubai
Trade Licence No. : 242767
(Expires 22/07/2008)
Chamber Member No. : 39652
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Hawa Abdullah
Hassan Eid Al Balooshi 51%
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Mohamed Amin
Haji Othman 49%
OPERATIONS
Activities: Engaged in the wholesale and retail of
textiles.
Import
Countries: Pakistan, India
and China
Operating Trend: Steady
Subject has a
workforce of 6 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 7,900,000 UAE Dh 8,350,000
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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Habib Bank AG
Zurich
Baniyas Road
PO Box 3306
Dubai
Tel: (971-4) 2214535
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 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%)