MIRA INFORM REPORT

 

 

Report Date :           

01.07.2011

 

IDENTIFICATION DETAILS

 

Name :

AL MATHAQ AL TAYEB MEAT AND FOODSTUFF

 

 

Registered Office :

Industrial Area No. 8, P O Box 37372, Sharjah

 

 

Country :

United Arab Emirates 

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

21.01.2005

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

istributors of fresh and frozen meat and poultry

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

United Arab Emirates 

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                                     : AL MATHAQ AL TAYEB MEAT AND FOODSTUFF

Country of Origin                                    : Sharjah, United Arab Emirates

Legal Form                                            : Sole Proprietorship

Registration Date                                   : 21st January 2005

Trade Licence Number                            : 534543

Chamber Membership Number                : 67677

Invested Capital                                     : UAE Dh 500,000

Total Workforce                                     : 35

Activities                                               : Distributors of fresh and frozen meat and poultry.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 150,000

 

COMPANY NAME

 

AL MATHAQ AL TAYEB MEAT AND FOODSTUFF

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Industrial Area No. 8

PO Box             : 37372

Town                 : Sharjah

Country             : United Arab Emirates

Telephone         : (971-6) 5319067 / 5319068

Facsimile          : (971-6) 5319068

Email                : almathaq@almathaqaltayeb.ae

 

Premises

Subject operates from a medium sized suite of offices and a warehouse that are rented and located in the Industrial Area of Sharjah.

 

 

KEY PRINCIPALS

 

     Name                                              Nationality                               Position

 

·       Yousef Ali M A                                  Indian                                        Proprietor & General Manager

 

·       Saeed Khalifa Al Thani                       Emirati                                      Local Sponsor

 

·       Moiz Petladwala                                      -                                         Commercial Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 21st January 2005

 

Legal Form                  : Sole Proprietorship

 

Trade Licence No.       : 534543 (Expires 19/03/2012)

 

Chamber Member No. : 67677

 

Invested Capital           : UAE Dh 500,000

 

Mr Yousef Ali M A is the sole proprietor of the business.

 

 

AFFILIATED COMPANIES

 

·       Lulu Hypermarket

Abu Dhabi

 

·       Al Fala Plaza

Abu Dhabi

 

·       Emirates General Markets

Abu Dhabi

 

·       A Tayeb Meat Est

MK Group Building

Muroor Road

PO Box: 4068

Abu Dhabi

Tel: (971-2) 6732141

Fax: (971-2) 6732144

 

·       EMKE General Trading

Al Qusais

PO Box: 60188

Dubai

Tel: (971-4) 2670077

Fax: (971-4) 2670088

 

·       Al Tayeb Cold Stores LLC

Mina Free Port

     PO Box: 4048

     Abu Dhabi

     Tel: (971-2) 6731831 / 6730393

     Fax: (971-2) 6731124

     Email: altcs@emirates.net.ae

 

·       Gulf Star Est

PO Box: 27608

Abu Dhabi

Tel: (971-2) 4481200

Fax: (971-2) 4481718

 

·       Huda Shipping International

     Mina Zayed

     PO Box: 4048

     Abu Dhabi

     Tel: (971-2) 6224226

     Fax: (971-2) 6224244

 

·       Syscoms Information Technology

     Liwa Street

     PO Box: 4048

     Abu Dhabi

     Tel: (971-2) 6224226

     Fax: (971-2) 6224244

 

·       Asif Jewellery

       Hamdan Street
PO Box: 4048
Abu Dhabi
Tel: (971-2) 6331366 
Fax: (971-2) 6334466

 

·       EMKE Stores

Mina

     PO Box: 4048

     Abu Dhabi

     Tel: (971-2) 6732131

     Fax: (971-2) 6732151

 

·       Emke Commodities (Kenya) Ltd

PO Box: 1556

Mombasa

Kenya

Tel: (254-11) 434463

Fax: (254-11) 432390

 

·       EMKE Tanzania Ltd

PO Box: 40652

Dar Ed Salaam

Tanzania

 

·       EMKE Garments (Kenya) Ltd

PO Box: 1556

Mombasa

Kenya

Tel: (254-11) 432585

Fax: (254-11) 432390

 

·       Fair Exports (India) Pvt. Ltd

     501 Madhava Bandra Kurla Complex

     Bandra (East)

     Mumbai 400051

     India

 

·       E K Prima Exports Thailand Ltd

     64/16 Sukhumvil Soi-20

     Bangkok 10110

     Thailand

 

·       E K Prima Exports HongKong Ltd

     Yu Cheong Ind Centre, Room 5K

     1 Wong Chuk Yeung Street

     Fotan

     Hong Kong

 

·       P.T.E.K. Prima Ekspor Indonesia

     J1, Mangga Dua Raya

     Block C 12

     Jakarta 14430

     Indonesia

     Tel: (62-21) 6128791/ 6128792

     Fax: (62-21) 6019438

 

·       Y Tex Fashions

     San Joaquin, 99-101 

     Bajos 1, 08922

     Santa Coloma Degramnet

     Barcelona

     Spain

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of fresh and frozen meat and poultry.

 

Import Countries: Europe and the Far East.

 

Operating Trend: Steady

 

Subject has a workforce of 35 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: United Arab Emirates Dirham (UAE Dh)

 

                                                Year Ending 31/12/09:                Year Ending 31/12/10:

 

Total Sales                                UAE Dh 16,280,0000                  UAE Dh 17,500,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Emirates Bank International Ltd

Immigration Road

PO Box: 25090

Sharjah

Tel: (971-6) 5733300

Fax: (971-6) 5730077

 

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.72

UK Pound

1

Rs.71.96

Euro

1

Rs.64.79

 

 

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

----

NB

New Business

----

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.