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MIRA
INFORM REPORT
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Report Date : |
18.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
STONES & SLATES EST (S&S) |
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Registered Office : |
Aweer
Road, Ras Al Khor Area, PO Box
114886, 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 : |
24.01.2005 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Cutting, Grinding and Polishing of Marble |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : STONES & SLATES EST (S&S)
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 24th January 2005
Trade Licence Number : 551810
Chamber Membership Number : 94010
Invested Capital : UAE Dh 500,000
Total Workforce : 25
Activities : Cutting, grinding and polishing of marble
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
STONES & SLATES
EST (S&S)
ADDRESS
Registered & Physical Address
Street : Aweer
Road
Area : Ras
Al Khor Area
PO Box : 114886
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3338855
Facsimile : (971-4) 3338831
Mobile : (971-50) 5584241 / 5595903
Email : snsdubai@eim.ae
Premises
Subject operates from
a small suite of offices and a warehouse that are rented and located in the
Industrial Area of Dubai.
Branch Office (s)
Location Description
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Dubai Building Sales
office & warehouse
Sheikh Zayed Road
Al Quoz Industrial Area
Dubai
Tel: (971-4) 3404325
Fax: (971-4) 3404326
KEY PRINCIPALS
Name Position
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Ahmed Abdul
Rahim Abdullah Anoohi Proprietor
& General Manager
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Ajaz
Ahmed Assistant
General Manager
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Abdulrahman
Mohamed Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 24th
January 2005
Legal Form :
Sole Proprietorship
Trade Licence No. : 551810
(Expires 20/12/2008)
Chamber Member No. : 94010
Invested Capital
: UAE Dh 500,000
Mr Ahmed Abdul
Rahim Abdullah Anoohi is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the cutting, grinding and
polishing of marble.
Import
Countries: Spain and Italy
Operating Trend: Steady
Subject has a
workforce of 25 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 7,500,000 UAE Dh 10,800,000
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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National Bank
of Dubai
Baniyas Street
PO Box : 777
Dubai
Tel : (971-4) 2222241
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 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%)