MIRA
INFORM REPORT
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Report Date : |
07.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
EMIRTA HORSE REQUIREMENTS CENTER |
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Registered Office : |
Sheikh Ahmad Bin
Hashr Al Maktoum Building, Sheikh Zayed Road, Al Wasl, PO Box 52901, 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 : |
05.01.1993 |
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Com. Reg. No.: |
27203, Dubai |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and Distribution of Equine Products and Supplies,
Sports Equipment and Articles, Sports Wear, Animal Feed and Fodder |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : EMIRTA HORSE REQUIREMENTS CENTER
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 5th January 1993
Commercial Registration Number : 27203, Dubai
Trade Licence Number : 229936
Chamber Membership Number : 26096
Invested Capital : UAE Dh 60,000
Total Workforce : 8
Activities : Import and distribution of equine products and supplies, sports equipment and articles, sports wear, animal feed and fodder
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
COMPANY NAME
EMIRTA HORSE
REQUIREMENTS CENTER
ADDRESS
Registered & Physical Address
Building : Sheikh Ahmad Bin Hashr Al Maktoum
Building
Street : Sheikh Zayed Road
Area : Al Wasl
PO Box : 52901
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3437475
Facsimile : (971-4) 3438664
Email : emirta@emirates.net.ae
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Saeed Abdullah
Humaid Al Katbi Emirati Proprietor &
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 5th
January 1993
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 27203, Dubai
Trade Licence No. : 229936
(Expires 04/01/2009)
Chamber Member No. : 26096
Invested Capital
: UAE Dh 60,000
Mr Saeed Abdullah
Humaid Al Katbi is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the import and distribution of
equine products and supplies, sports equipment and articles,
sports wear, animal feed and
fodder.
Import
Countries: Europe and India
Operating Trend: Steady
Subject has a
workforce of 8 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 2,700,000 UAE Dh 3,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were provided by Mr Saeed Abdullah Humaid Al Katbi, Proprietor.
BANKERS
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National Bank
of Dubai
Baniyas Street
PO Box : 777
Dubai
Tel : (971-4) 2222241
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Commercial
Bank of Dubai
Baniyas Street
PO Box : 1709
Deira
Dubai
Tel : (971-4) 2227121 / 2253222
Fax : (971-4) 2220943 / 2254565
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.01 |
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UK Pound |
1 |
Rs.84.16 |
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Euro |
1 |
Rs.65.20 |
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%)