MIRA
INFORM REPORT
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Report Date : |
28.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
M IBRAHIM HAJI TRADING STORES LLC |
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Registered Office : |
Saeed Mubarak
Salmeeyn Al Mansoury Building, PO Box 16199, Al Ain |
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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 : |
31.07. 1978 |
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Com. Reg. No.: |
1198, Al Ain |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of Building Materials, Glass and
Timber. |
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 : M IBRAHIM HAJI TRADING STORES LLC
Country of Origin : Al Ain, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 31st July 1978
Commercial Registration Number : 1198, Al Ain
Trade Licence Number : 2642
Chamber Membership Number : 1740
Issued Capital : UAE Dh 200,000
Paid up Capital : UAE Dh 200,000
Total Workforce : 20
Activities : Import and distribution of building materials, glass and timber.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
M IBRAHIM HAJI
TRADING STORES LLC
ADDRESS
Registered & Physical Address
Location : Saeed Mubarak Salmeeyn Al Mansoury
Building
PO Box : 16199
Town : Al Ain
Country : United Arab Emirates
Telephone : (971-3) 7211586
Facsimile : (971-3) 7217165
Email : mmmunir_786@yahoo.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Suburban
Business Area of Al Ain.
KEY PRINCIPALS
Name Nationality Position
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Mohamed
Ibrahim Haji Indian Managing
Director
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Suhail
Bakhit Suhail Al Rashdi Emirati Director
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Mohamed
Munir - General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 31st
July 1978
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1198, Al Ain
Trade Licence No. : 2642
(Expires 08/08/2008)
Chamber Member No. : 1740
Issued Capital : UAE Dh 200,000
Paid up Capital : UAE Dh 200,000
Name of Shareholder (s) Percentage
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Suhail
Bakhit Suhail Al Rashdi 51%
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Mohamed
Ibrahim Haji 49%
OPERATIONS
Activities: Engaged in the import and distribution of
building materials, glass and timber.
Import
Countries: India, Japan and
Europe
Operating Trend: Steady
Subject has a
workforce of 20 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
10,300,000 UAE Dh
10,875,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Abu
Dhabi Commercial Bank
PO Box : 15180
Al Ain
Tel : (971-3) 7660000
Fax : (971-3) 7511455
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%)