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MIRA
INFORM REPORT
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Report Date : |
18.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
MAJID BUKATTARA BUILDING MATERIALS TRADING LLC (MBBM) |
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Registered Office : |
Umm
Hurarir Building, Zabeel Road, Karama Area, PO Box 50897, 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 : |
19.03.1994 |
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Com. Reg. No.: |
44565, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Wholesale and Retail of Building Materials, Sanitary Ware,
Tools and General Hardware |
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$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : MAJID BUKATTARA BUILDING MATERIALS TRADING LLC (MBBM)
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 19th March 1994
Commercial Registration Number : 44565, Dubai
Trade Licence Number : 233615
Chamber Membership Number : 29811
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 65
Activities : Wholesale and retail of building materials, sanitary ware, tools and general hardware
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
COMPANY NAME
MAJID BUKATTARA
BUILDING MATERIALS TRADING LLC (MBBM)
ADDRESS
Registered & Physical Address
Building : Umm Hurarir
Building
Street : Zabeel
Road
Area : Karama Area
PO Box : 50897
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3371710
Facsimile : (971-4) 3371999
Email : majidbuk@emirates.net.ae
Premises
Subject operates from
a medium sized suite of offices that are rented and located in the Central
Business Area of Dubai.
Branch Office (s)
Location Description
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Al Aweer Road Warehouse
& showroom premises
Ras Al Khor Area
Dubai
Tel: (971-4) 3332004
Fax: (971-4) 3332093
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Al
Rashidya Area Warehouse
& showroom premises
Dubai
Tel: (971-4) 2863076
KEY PRINCIPALS
Name Nationality Position
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Erumala Mathew
Babu Indian Managing
Director
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Mehernosh
Nariman Khory Indian Director
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Majid Mohamed
Abdullah Bukattara Emirati Director
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K.S.
Mani - Finance
Manager
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Vinkatish
Ragvan - Commercial
Manager
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Sudakar
Rao - Human
Resources Manager
LEGAL FORM & OWNERS
Date of Establishment : 19th
March 1994
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 44565, Dubai
Trade Licence No. : 233615
(Expires 07/03/2009)
Chamber Member No. : 29811
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Majid Mohamed
Abdullah Bukattara 51%
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Erumala Mathew
Babu 25%
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Mehernosh
Nariman Khory 24%
AFFILIATED COMPANIES
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Al
Majaz Group
Dubai
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Ostermer
Factory
Dubai
OPERATIONS
Activities: Engaged in the wholesale and retail of
building materials, sanitary ware, tools and general hardware.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 65 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
22,100,000 UAE Dh
24,250,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources. The subject was
unwilling to divulge any financial information to our sources.
BANKERS
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Bank of Baroda
PO Box : 3162
Dubai
Tel : (971-4) 5531955
Fax
: (971-4) 5536962
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
1994, subject is involved in the wholesale and retail of building materials,
sanitary ware, tools and general hardware.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the company is deemed a fair trade risk. As such the above credit figure is
considered to be admissible.
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%)