MIRA
INFORM REPORT
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Report Date : |
09.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
ABDUL HUSSAIN MOHAMED ALI DHANERAWALA |
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Registered Office : |
Murshid Bazar, Shop No. 7, 1722, 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 : |
12th August 1968 |
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Com. Reg. No.: |
1515, Dubai |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and retail of Textiles, Readymade Garments and Footwear. |
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$ 200000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name :
ABDUL HUSSAIN MOHAMED ALI DHANERAWALA
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Sole Proprietorship
Registration Date :
12th August 1968
Commercial Registration Number :
1515, Dubai
Trade Licence Number :
203790
Chamber Membership Number :
506
Invested Capital :
UAE Dh 500,000
Total Workforce :
6
Activities :
Wholesale and retail of textiles, readymade garments and footwear.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Recommended Credit Limit :
US$ 200,000
COMPANY NAME
ABDUL HUSSAIN MOHAMED ALI DHANERAWALA
ADDRESS
Registered & Physical Address
Location : Murshid Bazar, Shop No. 7
PO Box : 1722
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2264445
Facsimile : (971-4)
2266310
Email : batul@emirates.net.ae
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
Aziz Abbas Bhai Indian Proprietor
& General Manager
Ali Ahmed - Assistant General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 12th
August 1968
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 1515, Dubai
Trade Licence No. : 203790
Chamber Member No. : 506
Invested Capital : UAE Dh 500,000
Mr Aziz Abbas Bhai is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of textiles, readymade garments and
footwear.
Import Countries: India and Africa.
Operating Trend: Steady
Subject has a workforce of 6 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 Sale UAE
Dh 6,900,000 UAE Dh
7,300,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures were confirmed by Mr Ali Ahmed.
BANKERS
HSBC Bank Middle East
Deira Souk Branch
PO Box : 66
Dubai
Tel : (971-4) 2535000
Acc No. 025 365263 001
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%)