MIRA
INFORM REPORT
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Report Date : |
17.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
KHALID AL SUWAIDY TRADING LLC |
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Registered Office : |
Mohamed Al Fahim
Building, Naif Road, Deira, PO Box 33891,
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 : |
10.03. 1998 |
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Com. Reg. No.: |
65150, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Wholesale and Retail of Textiles, Ready Made Garments,
Footwear, Handbags and Leather Products, Giftware, and Travel Requisites |
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$ 175,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : KHALID AL SUWAIDY TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 10th March 1998
Commercial Registration Number : 65150, Dubai
Trade Licence Number : 504336
Chamber Membership Number : 48562
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 5
Activities : Wholesale and retail of textiles, ready made garments, footwear, handbags and leather products, giftware, and travel requisites
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 175,000
COMPANY NAME
KHALID AL SUWAIDY
TRADING LLC
ADDRESS
Registered & Physical Address
Building : Mohamed Al Fahim Building
Street : Naif Road
Area : Deira
PO Box : 33891
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2261601
Facsimile : (971-4) 2267495
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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Shah Al Hameed
Amjat Ali Indian Managing
Director
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Khalid Rashid
Saeed Bin Yaser Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 10th
March 1998
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 65150, Dubai
Trade Licence No. : 504336
Chamber Member No. : 48562
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Khalid Rashid
Saeed Bin Yaser 51%
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Shah Al Hameed
Amjat Ali 49%
OPERATIONS
Activities: Engaged in the wholesale and retail of
textiles, ready made garments, footwear, handbags and leather
products, giftware, and
travel requisites.
Import
Countries: India and Taiwan
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
11,700,000 UAE Dh
12,000,000
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
Naif Road
PO Box : 1069
Dubai
Tel
: (971-4) 2717280
Fax
: (971-4) 2724914
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%)