MIRA INFORM
REPORT
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Report Date : |
19.01.2011 |
IDENTIFICATION DETAILS
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Name : |
SHARIEF STORES LLC |
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Registered Office : |
Obaid Khalifa Al |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
12.05.1977 |
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Com. Reg. No.: |
40744, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesalers and retailers of luggage and linen |
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$ 500,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUMMARY
Company Name : SHARIEF STORES LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 12th May 1977
Commercial Registration Number : 40744,
Trade Licence Number : 207368
Chamber Membership Number : 3168
Issued Capital : UAE Dh 25,000,000
Paid up Capital : UAE Dh 25,000,000
Total Workforce : 100
Activities : Wholesalers and retailers of luggage and linen.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 500,000
COMPANY NAME
SHARIEF STORES LLC
company ADDRESS
Registered & Physical Address
Building : Obaid Khalifa Al Humaidan
Building
Area : Port Saeed
PO Box : 4446
Town :
Country :
Telephone : (971-4) 3362225 / 2666646
Facsimile : (971-4) 3362333 / 2666623
Email : info@shariefgroup.com
Premises
Subject operates
from a large suite of offices and a showroom that are rented and located in the
Central Business Area of Dubai.
Branch Office (s)
Location Description
·
Hamarain
Centre Showroom
premises
Tel: (971-4) 2666635
·
Tel: (971-4) 3244447
·
Mall of
the Emirates Showroom
premises
Tel: (971-4) 3411000
·
Burjuman
Centre Showroom
premises
Tel: (971-4) 3553377
·
Al
Tel: (971-4) 2214339
·
Police
Club Showroom
premises
Tel: (971-4) 3241714
·
Dubai
Mall Showroom
premises
Tel: (971-4) 3398742
·
Abu
Dhabi Mall Showroom
premises
Tel: (971-2) 6447772
·
Markaz
Al Bhaja Shopping Mall Showroom
premises
Tel: (968) 24544971
KEY PRINCIPALS
Name Position
·
Ali
Mohamed Ahmad Al Rais Managing
Director
LEGAL FORM & OWNERS
Date of Establishment : 12th
May 1977
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 40744,
Trade Licence No. : 207368
(Expires 8th January 2012)
Chamber Member No. : 3168
Issued Capital : UAE Dh 25,000,000
Paid up Capital : UAE Dh 25,000,000
Name of Shareholder
(s) Percentage
·
Al
Sharief Group LLC 99%
·
Ali
Mohamed Ahmad Al Rais 1%
OPERATIONS
Activities : Engaged in the wholesale and retail of
luggage and linen.
Import Countries : Europe and the
Brand Names :
PIERRE CARDIN and CHRISTIAN FISCHBACHER.
Operating Trend : Steady
Subject has a
workforce of 100 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/08: Year
Ending 31/12/09:
Total Sales UAE Dh
48,600,000 UAE Dh
49,850,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
National
Bank of
PO Box: 777
Tel: (971-4) 2222241
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.53 |
|
|
1 |
Rs.72.56 |
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Euro |
1 |
Rs.60.62 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.