MIRA
INFORM REPORT
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Report Date : |
13.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
RAMESH KHIMJI TRADING EST |
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Registered Office : |
Saleh Omer Bin
Haider Building, Al Khabeesi Road, Al Khabeesi, PO Box 51265, 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 : |
24.03. 1991 |
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Com. Reg. No.: |
22146, Dubai |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and Distribution of Building and Construction
Materials. |
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$ 225,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : RAMESH KHIMJI TRADING EST
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 24th March 1991
Commercial Registration Number : 22146, Dubai
Trade Licence Number : 224471
Chamber Membership Number : 20703
Invested Capital : UAE Dh 200,000
Total Workforce : 12
Activities : Import and distribution of building and construction materials.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 225,000
COMPANY NAME
RAMESH KHIMJI
TRADING EST
ADDRESS
Registered & Physical Address
Building : Saleh Omer Bin Haider Building
Street : Al Khabeesi Road
Area : Al Khabeesi
PO Box : 51265
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2697359 / 2697360 / 2698227
Facsimile : (971-4) 2697380
Email : rktest@emirates.net.ae
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 Dubai.
KEY PRINCIPALS
Name Nationality Position
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Ramesh
Jamnadas Khimji Omani Proprietor
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Pankag
Toprani - General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 24th
March 1991
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 22146, Dubai
Trade Licence No. : 224471
(Expires 11/03/2009)
Chamber Member No. : 20703
Invested Capital
: UAE Dh 200,000
Mr Ramesh Jamnadas
Khimji is the sole proprietor of the business.
AFFILIATED COMPANIES
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R&N
Khimji LLC
Muscat
Oman
Tel: (968) 24834483
Fax: (968)
24836190
OPERATIONS
Activities: Engaged in the import and distribution of
building and construction materials.
Import
Countries: Oman, China,
India and Europe.
Operating Trend: Steady
Subject has a
workforce of 12 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 Sales UAE Dh
13,395,000 UAE Dh
14,800,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Pankag Toprani, General
Manager.
BANKERS
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Emirates Bank
International Ltd
Beniyas Road
Deira
PO Box : 2923
Dubai
Tel : (971-4) 2256256 / 2256900
Fax : (971-4) 2268005 / 2267718
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%)