MIRA
INFORM REPORT
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Report Date : |
27.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
TECHNICAL RESOURCES EST |
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Registered Office : |
Shekh Zayed Road,
Area Al Quoz Industrial Area, PO Box 23360, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
1st June 1985 |
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Com. Reg. No.: |
10790, Dubai |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject operates
several divisions i.e., Equipment Division, Workshop Division, Plant Hire Division |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 150,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : TECHNICAL RESOURCES EST
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 1st June 1985
Commercial Registration Number : 10790, Dubai
Trade Licence Number : 203672
Chamber Membership Number : 2489
Invested Capital : UAE Dh 100,000
Total Workforce : 250
Activities : Subject operates several divisions (see below for details)
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 750,000
COMPANY NAME
TECHNICAL RESOURCES
EST
ADDRESS
Registered & Physical Address
Street : Shekh Zayed Road
Area : Al Quoz Industrial Area
PO Box : 23360
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3476646
Facsimile : (971-4) 3402454
Email : doshia@emirates.net.ae
Premises
Subject operates
from a large suite of offices, a workshop and warehousing that are owned and
located in the Industrial Area of Dubai.
Branch Office (s)
Location Description
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PO Box 32161 Sales
office & warehouse
Abu Dhabi
Tel: (971-2) 5513316
Fax: (971-2) 5513317
KEY PRINCIPALS
Name Nationality Position
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Ali Saeed Juma
Al Bawardy Emirati Proprietor
& General Manager
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Umesh Gosavi - Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 1st
June 1985
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 10790, Dubai
Trade Licence No. : 203672
(Expires 17/05/2008)
Chamber Member No. : 2489
Invested Capital
: UAE Dh 100,000
Mr Ali Saeed Juma
Al Bawardy is the sole proprietor of the business.
OPERATIONS
Activities: Subject’s activities are performed through
the following divisions:
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Equipment
Division
Engaged in the supply, installation and maintenance of diesel
generators, air compressors, and truck mounted cranes as well as related spare
parts such as filters and engine components.
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Workshop
Division
This division specialises in the repair and service of all kinds of
heavy equipment complete with mechanical, engine, hydraulics and electrical
repair facilities.
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Plant
Hire Division
This division deals with the leasing of power plants, earth moving
equipments and their maintenance and service.
Import Countries
Germany, United
Kingdom, United States of America and India.
Brand Names
PERKINS, CUMMINS,
JOHN DEERE, DEUTZ, STAMFORD, and TECNERGY
Subject has a workforce
of approximately 250 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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The Standard
Chartered Bank
Khalid Bin Waleed Street
Mankhool Branch
PO Box : 999
Dubai
Tel : (971-4) 2520455
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 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%)