MIRA
INFORM REPORT
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Report Date : |
18.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL RAWDA TRADING EST |
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Registered Office : |
Arab
Bank Street, PO Box 2054, Fujairah |
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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 : |
22.03.2000 |
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Com. Reg. No.: |
7002, Fujairah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and Retail of Household
Products, Kitchenware and Giftware |
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 RAWDA TRADING EST
Country of Origin : Fujairah, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 22nd March 2000
Commercial Registration Number : 7002, Fujairah
Trade Licence Number : 14478
Chamber Membership Number : 7005
Invested Capital : UAE Dh 50,000
Total Workforce : 4
Activities : Wholesale and retail of household products, kitchenware and giftware
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
AL
RAWDA TRADING EST
ADDRESS
Registered & Physical Address
Location : Arab
Bank Street
PO Box : 2054
Town : Fujairah
Country : United Arab Emirates
Telephone : (971-9) 2244775
Facsimile : (971-9) 2244776
Mobile : (971-50) 4903373 / 4846688
Email : rawdafuj@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 Fujairah.
KEY PRINCIPALS
Name Nationality Position
·
Mohamed
Abdullah Shaker Emirati Proprietor
& General Manager
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Ashraf
Faiz - Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 22nd
March 2000
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 7002, Fujairah
Trade Licence No. : 14478 (Expires 26/06/2008)
Chamber Member No. : 7005
Invested Capital
: UAE Dh 50,000
Mr Mohamed Abdullah Shaker is the sole proprietor of
the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of household products, kitchenware and giftware.
Import
Countries: Italy, India and
China
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
10,300,000 UAE Dh
12,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr Ashraf Faiz,
Assistant General Manager.
BANKERS
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National Bank
of Fujairah
PO Box 887
Fujairah
Tel : (971-9) 2224518 / 2224513
Fax : (971-9) 2224516 / 2229470
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
During the course
of this investigation nothing detrimental was uncovered regarding the manner in
which payment obligations are fulfilled. The operating history is clear and the
financial situation is satisfactory. As such we are of the opinion that the
subject is 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%)