MIRA
INFORM REPORT
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Report Date : |
15.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
GOLDEN FOUNTAIN TRADING EST |
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Registered Office : |
Abdullah Obaid
Mohamed Building, Al Khor Street, Al Ras, Deira, PO Box 26438, 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 : |
07.09. 1995 |
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Com. Reg. No.: |
34529, Dubai |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and Distribution of Foodstuff and Beverages. |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : GOLDEN FOUNTAIN TRADING EST
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 7th September 1995
Commercial Registration Number : 34529, Dubai
Trade Licence Number : 238986
Chamber Membership Number : 35315
Invested Capital : UAE Dh 100,000
Total Workforce : 5
Activities : Import and distribution of foodstuff and beverages.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
GOLDEN FOUNTAIN
TRADING EST
ADDRESS
Registered & Physical Address
Building : Abdullah Obaid Mohamed Building
Street : Al Khor Street
Area : Al Ras, Deira
PO Box : 26438
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2250371
Facsimile : (971-4) 2250374
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
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Nasser
Abdullah Hassan Mohamed Murshid Emirati Proprietor &
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 7th
September 1995
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 34529, Dubai
Trade Licence No. : 238986
(Expires 02/09/2009)
Chamber Member No. : 35315
Invested Capital
: UAE Dh 100,000
Mr Nasser Abdullah
Hassan Mohamed Murshid is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the import and distribution of
foodstuff and beverages.
Import
Countries: France, United States
of America and 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
11,800,000 UAE Dh
12,350,000
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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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
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%)