MIRA
INFORM REPORT
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Report Date : |
13.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
INDUS TRADING |
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Registered Office : |
Mohamed Kadfoor Al Mahiri Warehouse, Ras Al Khor Road (1st
Street), Ras Al Khor Industrial Area, PO Box
52039, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
03.06.1989 |
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Com. Reg. No.: |
17372, Dubai |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and Distribution of Basic Steel Products, Hardware
and Tools, and Construction Materials. |
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$ 50,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : INDUS TRADING
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 3rd June 1989
Commercial Registration Number : 17372, Dubai
Trade Licence Number : 219942
Chamber Membership Number : 16096
Invested Capital : UAE Dh 100,000
Total Workforce : 4
Activities : Import and distribution of basic steel products, hardware and tools, and
construction materials.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 50,000
COMPANY NAME
INDUS TRADING
ADDRESS
Registered & Physical Address
Building : Mohamed
Kadfoor Al Mahiri Warehouse
Street : Ras Al Khor
Road (1st Street)
Area : Ras Al Khor
Industrial Area
PO Box : 52039
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 3332737
Facsimile : (971-4)
3366903
Mobile : (971-50)
Email : industrd@emirates.net.ae
Premises
Subject operates from a small suite of offices and a warehouse that are rented
and located in the Industrial Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
· Abdul Karim Mahdi
Mohamed Al Asmawi Emirati Proprietor &
General Manager
LEGAL FORM & OWNERS
Date of
Establishment : 3rd
June 1989
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 17372, Dubai
Trade Licence No. : 219942 (Expires on 02/06/2008)
Chamber Member No. : 16096
Invested Capital : UAE Dh 100,000
Mr Abdul Karim Mahdi Mohamed Al Asmawi is the sole proprietor of the
business.
OPERATIONS
Activities: Engaged in the import and distribution of basic steel products, nuts
and bolts, screws and nails, building
hardware and tools, construction materials,
paint and varnishes, construction chemicals, workshop equipment and machinery
spare parts.
Import Countries: China, United States of America, Europe and India.
Subject has a workforce of 4 employees.
FINANCIAL DATA
Companies registered in Dubai are not legally required to make their
accounts public and no financial information was released by the company or
submitted by outside sources.
BANKERS
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Habib Bank AG Zurich
Al Safa Tower
Sheikh Zayed Road
PO Box 38220
Dubai
Tel: (971-4)
3313999
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%)