MIRA INFORM
REPORT
|
Report Date : |
06.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
FAKHRUDDIN IBRAHIM |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
01.01.1963 |
|
|
|
|
Com. Reg. No.: |
28053, Sharjah |
|
|
|
|
Legal Form : |
General Partnership |
|
|
|
|
Line of Business : |
Import and distribution
of bags, stationery, perfumes, cosmetics, toys and novelty items |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 150,000 |
|
Status : |
Satisfactory |
|
Payment
Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
|
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SUMMARY
Company
Name :
FAKHRUDDIN IBRAHIM
Country of Origin :
Legal Form : General Partnership
Registration Date : 1st January 1963
Commercial Registration Number : 28053, Sharjah
Trade Licence Number : 205754
Chamber Membership Number : 231
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Total Workforce : 90
Activities : Import and distribution of bags, stationery, perfumes, cosmetics, toys
and novelty items
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
FAKHRUDDIN IBRAHIM
company ADDRESS
Registered & Physical Address
Building :
Street :
Area :
PO Box : 1299
Town :
Country :
Telephone : (971-4) 2269911 / 2352790 / 2252496 /
2255132 / 3297920
Facsimile : (971-4) 2255438 / 2352791 / 2262139 / 2256606
Email : hgc@fakhruddine.ae / i.hamza@fakhruddine.ae
Premises
Subject operates
from a medium sized suite of offices and a showroom that are rented and located
in the Central Business Area of Dubai.
Branch Office (s)
Location Description
·
Al
Gowair Area Showroom
premises
PO Box: 28041
Sharjah
Tel: (971-6) 5631471
KEY PRINCIPALS
Name Position
·
Mohamed Hussain Fakhruddin Managing
Partner
·
Asgar Ali Mulla Fakhruddin Partner
·
Akbar Ali Mulla Fakhruddin Partner
·
Hussain Ali Mulla Fakhruddin Partner
·
Kartik Wasu Daven Financial
Controller
·
Hamza Ibrahim Public
Relations Manager
LEGAL FORM & OWNERS
Date of Establishment : 1st
January 1963
Legal Form :
General Partnership
Commercial Reg. No. : 28053,
Sharjah
Trade Licence No. : 205754
(Expires 16/02/2012)
Chamber Member No. : 231
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Name of Partner (s)
·
Mohamed Hussain Fakhruddin
·
Asgar Ali Mulla Fakhruddin
·
Akbar Ali Mulla Fakhruddin
·
Hussain Ali Mulla Fakhruddin
AFFILIATED COMPANIES
·
Sterling Perfumes Trading LLC
·
Fakhruddin General Trading LLC
·
Fakhruddin Properties
·
Fakhruddin Gifts & Novelty
OPERATIONS
Activities: Engaged in the import and distribution of
bags, stationery, perfumes, cosmetics, toys and novelty items.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a
workforce of 90 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales UAE Dh
14,120,000 UAE Dh
15,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
HSBC
Bank
Deira Souk Branch
PO Box: 66
Tel: (971-4) 2535000
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction July
2008
Credit amount 150,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency
GENERAL COMMENTS
According to local sources
subject is making steady progress in the local business market and nothing
detrimental has been reported regarding the manner in which payments are
fulfilled. As such the business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.45 |
|
|
1 |
Rs.71.59 |
|
Euro |
1 |
Rs.63.01 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.