MIRA
INFORM REPORT
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Report Date : |
21.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
KHALED SALEM AL SHEHHI TRADING |
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Registered Office : |
Abdullah Ahmad Az
Zarooni Building, Dubai – Al Ain Road, Al Ras, Deira, PO Box 122814 & 1941,
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 : |
26.02. 2006 |
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Com. Reg. No.: |
110015, Dubai |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and Retail of Textiles, Fabrics, Ready Made
Garments, Leather Products, and Baby Care Products |
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 : KHALED SALEM AL SHEHHI TRADING
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 26th February 2006
Commercial Registration Number : 110015, Dubai
Trade Licence Number : 578276
Chamber Membership Number : 104997
Invested Capital : UAE Dh 50,000
Total Workforce : 4
Activities : Wholesale and retail of textiles, fabrics, ready made garments, leather
products, and baby care products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
COMPANY NAME
KHALED SALEM AL
SHEHHI TRADING
ADDRESS
Registered & Physical Address
Building : Abdullah Ahmad Az Zarooni Building
Street : Dubai – Al Ain Road
Area : Al Ras, Deira
PO Box : 122814 & 1941
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8326010
Facsimile : (971-4) 8326010
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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Khalid Salem
Hassan Salem Al Shehhi Emirati Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 26th
February 2006
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 110015, Dubai
Trade Licence No. : 578276
(Expires 25/02/2010)
Chamber Member No. : 104997
Invested Capital
: UAE Dh 50,000
Mr Khalid Salem Hassan
Salem Al Shehhi is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of
textiles, fabrics, ready made garments, leather products, and baby care
products.
Import
Countries: India, China and
Europe
Subject has a
workforce of 4 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/07:
Total Sales UAE
Dh 5,700,000
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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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%)