MIRA
INFORM REPORT
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Report Date : |
18.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL NASEEHA TRADING EST |
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Registered Office : |
Al Ras Street,
Gold Souq, Deira, PO Box 40670, 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 : |
21.02.2001 |
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Com. Reg. No.: |
86197, Dubai |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and Retail of Textiles and Ready Made Garments |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 75,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL NASEEHA TRADING EST
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 21st February 2001
Commercial Registration Number : 86197, Dubai
Trade Licence Number : 524452
Chamber Membership Number : 62438
Invested Capital : UAE Dh 50,000
Total Workforce : 4
Activities : Wholesale and retail of textiles and ready made garments
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 75,000
COMPANY NAME
AL NASEEHA TRADING
EST
ADDRESS
Registered & Physical Address
Street : Al Ras Street
Area : Gold Souq, Deira
PO Box : 40670
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2255442
Facsimile : (971-4) 2255743
Mobile : (971-50)
Email : naseeha2@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
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Abdulrazzaq
Mohamed Abdullah Rahnama Alawadhi Emirati Proprietor
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Abdul
Jabar Nazir - General
Manager
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Shah
El Hamid Nazir - Assistant
General Manager
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K. A.
Milju - Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 21st
February 2001
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 86197, Dubai
Trade Licence No. : 524452
Chamber Member No. : 62438
Invested Capital
: UAE Dh 50,000
Mr Abdulrazzaq
Mohamed Abdullah Rahnama Alawadhi is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of
textiles and ready made garments.
Import
Countries: China and
Thailand
Operating Trend: Steady
Subject has a
workforce of 4 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 1,850,000 UAE Dh 2,200,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr K. A. Milju,
Sales Manager.
BANKERS
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Commercial
Bank of Dubai
Mankhool Street
PO Box : 2668
Dubai
Tel : (971-4) 3523355
Fax : (971-4) 3527655 / 2524796
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%)