MIRA
INFORM REPORT
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Report Date : |
15.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL HAMAS TILES AND PLASTER CONTRACTING LLC |
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Registered Office : |
Al
Rolla Street, PO Box 72908, Sharjah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
27.02. 2001 |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Contractors, Specialising in
Tiling, Plastering, Granite, Ceramic and
Marble Finishing. |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL HAMAS TILES AND PLASTER CONTRACTING LLC
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 27th February 2001
Trade Licence Number : 507745
Chamber Membership Number : 50219
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 19
Activities :
Contractors, specialising in tiling, plastering,
granite, ceramic and marble finishing.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
COMPANY NAME
AL HAMAS TILES AND PLASTER
CONTRACTING LLC
ADDRESS
Registered & Physical Address
Location : Al Rolla
Street
PO Box : 72908
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5624742
Facsimile : (971-6) 5624742
Mobile : (971-50) 4203326
Email : hemaldubai@yahoo.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Suburban
Business Area of Sharjah.
KEY PRINCIPALS
Name Nationality Position
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Hemal
Bahobindra Rajpopak Indian Managing Director
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Ahmed
Hamad Saeed Al Nasir Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 27th
February 2001
Legal Form :
Limited Liability Company -
LLC
Trade Licence No. : 507745 (Expires 25/02/2009)
Chamber Member No. : 50219
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder (s) Percentage
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Ahmed
Hamad Saeed Al Nasir 51%
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Hemal
Bahobindra Rajpopak 49%
OPERATIONS
Activities: Engaged as contractors,
specialising in tiling, plastering, granite, ceramic and marble finishing.
Import
Countries: Italy, Spain and
India.
Subject has a
workforce of 19 employees.
FINANCIAL DATA
Companies
registered in Sharjah, United Arab Emirates 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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National Bank
of Sharjah
Al Boorj Avenue
PO Box : 4
Sharjah
Tel : (971-6) 5547747
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 company
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%)