MIRA
INFORM REPORT
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Report Date : |
01.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL JAWAL STATIONERY TRADING LLC |
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Registered Office : |
Al Istiqlal Street, Al Yarmook
Area, PO Box 1915 & 4913, Sharjah |
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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 : |
19.02.2002 |
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Com. Reg. No.: |
41502, Sharjah |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Importer and Distributor of
Office and Stationery Products. |
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 : AL JAWAL STATIONERY TRADING LLC
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 19th February 2002
Commercial Registration Number : 41502, Sharjah
Trade Licence Number : 513306
Membership Number : 53485
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Total Workforce : 6
Line of Business : Import and distribution of office and stationery products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL JAWAL STATIONERY TRADING LLC
ADDRESS
Registered & Physical Address
Street : Al Istiqlal Street
Area : Al Yarmook Area
PO Box : 1915 & 4913
Town : Sharjah
Country : United Arab
Emirates
Telephone : (971-6) 5771499
Facsimile : (971-6) 5771499
Mobile :
(971-50) 7961005
Premises
Subject operates from a small suite of offices, a warehouse and a
showroom that are rented and located in the Suburban Business Area of Sharjah.
KEY PRINCIPALS
Name Nationality Position
· Hassan
Mall Ullah Emirati Managing Director
· Abdulrahman
Khalfan Pooreh Iranian Director
· Khalfan
Abdulrahman Pooreh Iranian Director
· Mohamed
Abdullah Salhi Poor Iranian Director
· Sayed Abdul Wakil Afghani Sales
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 19th
February 2002
Legal Form : Sharikat Thet
Massouliya Mahdoudeh (Limited Liability Company - LLC)
Commercial Reg.
No. : 41502, Sharjah
Trade Licence No. : 513306
Membership No. : 53485
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Name of Shareholder (s) Percentage
· Hassan
Mall Ullah 51%
· Abdulrahman
Khalfan Pooreh 19%
· Khalfan
Abdulrahman Pooreh 15%
· Mohamed
Abdullah Salhi Poor 15%
Note to the Legal Form
A Limited Liability Company (LLC) is defined in the Company Law as a
company incorporated with not less than two and not more than fifty
shareholders, each responsible only for the liabilities of the company to the
extent of their share participation in the capital of the company.
The Company Law provides that the capital of a Limited Liability Company
(LLC) should not be less than UAE Dh 150,000, which should be divided into
equal shares of a value not less than UAE Dh 100 each.
This type of company may engage in any form of legitimate business, with
the exception of insurance, banking and investment of funds.
LINE OF BUSINESS
Operations: Engaged in the import and distribution of
office and stationery products.
Import Countries: India and China.
Operating Trend: Steady
Subject has a workforce of 6 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Revenue UAE
Dh 5,125,000 UAE Dh
5,600,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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Habib Bank Ltd
PO Box : 300
Sharjah
Tel : (971-6)
5356116
Fax : (971-6)
5526473
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.
Maximum suggested credit figure: US$ 150,000
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%)