MIRA
INFORM REPORT
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Report Date : |
18.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL HOSON PRINTING & STATIONERY CO LLC |
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Registered Office : |
Mohamed Ghanim Al
Falasi Building, Abu Baker Al Siddique Street, Hor Al Anz, PO Box 13710, 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 : |
21.01.1992 |
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Com. Reg. No.: |
24436, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Wholesale and Retail of Office
Supplies and Stationery, School Accessories and Paper Pads |
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 HOSON PRINTING & STATIONERY CO LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 21st January 1992
Commercial Registration Number : 24436, Dubai
Trade Licence Number : 226947
Chamber Membership Number : 23036
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 10
Activities :
Wholesale and retail of office supplies and stationery,
school accessories and paper pads
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
AL HOSON PRINTING
& STATIONERY CO LLC
ADDRESS
Registered & Physical Address
Building : Mohamed Ghanim Al Falasi Building
Street : Abu Baker Al Siddique Street
Area : Hor Al Anz
PO Box : 13710
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2697245
Facsimile : (971-4) 2661074
Mobile : (971-50) 6469967
Email : hoson@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.
Branch Office (s)
Location Description
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Al Ras Area Rented
showroom premises
Dubai
Tel: (971-4) 2354160
Fax: (971-4)
2354579
KEY PRINCIPALS
Name Nationality Position
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Rasheed Ahmad
Rasheed Hussain Emirati Managing
Director
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Nabeel
Baderuddine Ragab Lebanese Director
LEGAL FORM & OWNERS
Date of Establishment : 21st
January 1992
History : Subject was originally established in 1992
as a Sole Proprietorship owned by Mr Rasheed
Ahmad Rasheed Hussain and trading under the
name of “Al Hoson Printing & Stationery
Est”. However in February 2007,
subject was re-registered as a Limited Liability Company
under the current style of “Al
Hoson Printing & Stationery Co LLC” and owned by the current
shareholders.
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 24436, Dubai
Trade Licence No. : 226947
Chamber Member No. : 23036
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Rasheed Ahmad Rasheed
Hussain 51%
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Nabeel
Baderuddine Ragab 49%
OPERATIONS
Activities: Engaged in the
wholesale and retail of office supplies and stationery, school accessories and
paper pads.
Subject
is also engaged in the printing of school note books and pads.
Import
Countries: United Kingdom,
China and India
Operating Trend: Steady
Subject has a
workforce of 10 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 5,900,000 UAE Dh 6,250,00
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr Nabeel Baderuddine Ragab,
Director
BANKERS
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Abu
Dhabi Commercial Bank
Al
Rigga Road
PO Box : 5550
Dubai
Tel : (971-4) 2958888 / 3228141
Fax : (971-4) 2959310 / 3279632
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%)