MIRA
INFORM REPORT
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Report Date : |
15.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
AMPELOUS METAL TRADING |
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Registered Office : |
Emirates International Investment Building, Al
Mussafah Area M 3 / 1, PO Box 51367,
Abu Dhabi |
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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 : |
30.04. 2005 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import
and Distribution of used Aluminium, Brass and Batteries |
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 : AMPELOUS METAL TRADING
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 30th April 2005
Trade Licence Number : 88688
Chamber Membership Number : 111721
Invested Capital : UAE Dh 300,000
Total Workforce : 5
Activities : Import and distribution of used aluminium, brass and batteries.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
AMPELOUS METAL TRADING
ADDRESS
Registered & Physical Address
Building : Emirates International Investment
Building
Area : Al
Mussafah Area M 3 / 1
PO Box : 51367
Town : Abu Dhabi
Country : United Arab Emirates
Telephone : (971-2) 5555929
Facsimile : (971-2) 5555929
Email : ampelous@yahoo.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Industrial Area of Abu Dhabi.
KEY PRINCIPALS
Name Nationality Position
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Mohamed Mabkhout Al Mahali Emirati Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 30th
April 2005
Legal Form :
Sole Proprietorship
Trade Licence No. : 88688
(valid until 28/05/2008)
Chamber Member No. : 111721
Invested Capital
: UAE Dh 300,000
Mr Mohamed
Mabkhout Al Mahali is the
sole proprietor of the business.
OPERATIONS
Activities: Engaged in the import and distribution
of used aluminium, brass and batteries.
Import
Countries: India
Operating Trend: Steady
Subject has a
workforce of 5 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 3,100,000 UAE Dh 5,000,000
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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Abu
Dhabi Commercial Bank
Mussafah
PO Box : 9331
Abu Dhabi
Tel : (971-2) 5544272
Fax : (971-2) 5544273
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Ampelous Metal Trading was established in April 2005 and has
made steady progress in the market specialising in the import and distribution
of used aluminium, brass and batteries.
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
deemed admissible.
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%)