MIRA
INFORM REPORT
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Report Date : |
20.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
JASSIM AHLI TRADING |
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Registered Office : |
Mohamed Ahmad Mohamed Warehouse, Al Qusais Street, Al Qusais
Industrial Area, PO Box 77727, 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 : |
17.06.2001 |
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Com. Reg. No.: |
87512, Dubai |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and retail of cookers and stoves, audio-visual
and recording equipment, refrigerators and washing machines, telephones and
telecommunication equipment, photographic accessories and satellite receiving
equipment |
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 : JASSIM AHLI TRADING
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 17th June 2001
Commercial Registration Number : 87512, Dubai
Trade Licence Number : 527104
Chamber Membership Number : 64473
Invested Capital : UAE Dh 50,000
Total Workforce : 13
Activities : Wholesale and retail of cookers and stoves, audio-visual and recording
equipment, refrigerators and washing machines, telephones and
telecommunication equipment, photographic accessories and satellite
receiving equipment
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
JASSIM AHLI TRADING
ADDRESS
Registered & Physical Address
Building : Mohamed
Ahmad Mohamed Warehouse
Street : Al Qusais
Street
Area : Al Qusais
Industrial Area
PO Box : 77727
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2675525
Facsimile : (971-4)
2675355
Mobile : (971-50)
Email : jas_ahli@emirates.net.ae
Premises
Subject operates from a small suite of offices, a warehouse and a
showroom that are rented and located in the Industrial Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
· Jassim Mohamed
Abdullah Khusro Ahli Emirati Proprietor &
General Manager
LEGAL FORM & OWNERS
Date of
Establishment : 17th
June 2001
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 87512, Dubai
Trade Licence No. : 527104 (Expires 12/06/2008)
Chamber Member No. : 64473
Invested Capital : UAE Dh 50,000
Mr Jassim Mohamed Abdullah Khusro Ahli is the sole proprietor of the
business.
OPERATIONS
Activities: Engaged in the wholesale and retail of cookers and stoves, audio-visual
and recording equipment,
refrigerators and washing machines,
telephones and telecommunication equipment, photographic accessories and
satellite receiving equipment.
Import Countries: South Korea, Singapore, China and Italy
Operating Trend: Steady
Subject has a workforce of 13 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:
Sales UAE
Dh 11,300,000 UAE Dh
11,850,000
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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Dubai Islamic Bank
PO Box : 1080
Dubai
Tel : (971-4) 2953000
Fax : (971-4) 2954111
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
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%)