MIRA INFORM
REPORT
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Report Date : |
03.03.2011 |
IDENTIFICATION DETAILS
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Name : |
AL NASEEHA TRADING EST |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
21.02.2001 |
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Com. Reg. No.: |
86197, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and retail of textiles and ready made garments |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
US$ 80,000 |
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Status : |
Moderate |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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UAE |
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 : AL NASEEHA TRADING EST
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 21st February 2001
Commercial Registration Number : 86197,
Trade Licence Number : 524452
Chamber Membership Number : 62438
Invested Capital : UAE Dh 50,000
Total Workforce : 4
Activities : Wholesale and retail of textiles and ready made garments
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 80,000
Person Interviewed : K Beju, Sales Manager
COMPANY NAME
AL NASEEHA TRADING EST
ADDRESS
Registered & Physical Address
Building :
Street :
Area : Gold Souq,
Deira
PO Box : 40670 &
33371
Town :
Country :
Telephone : (971-4) 2255442
Facsimile : (971-4)
2255743
Email : naseeha2@emirates.net.ae
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
· Abdulrazzaq
Mohamed Abdullah Rahnama Alawadhi Emirati Proprietor
· Abdul Jabar Nazir - General
Manager
· Nezar Abdul Jabar - Assistant
General Manager
· K Beju - Sales
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 21st
February 2001
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 86197,
Trade Licence No. : 524452 (Expires 20/02/2012)
Chamber Member No. : 62438
Invested Capital : UAE Dh 50,000
Mr Abdulrazzaq Mohamed Abdullah Rahnama Alawadhi is the sole proprietor
of the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of textiles and ready made
garments.
Import Countries:
Operating Trend: Steady
Subject has a workforce of 4 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 2,850,000 UAE Dh
3,135,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures were confirmed by Mr K Beju, Sales Manager
BANKERS
·
Commercial Bank of
PO Box: 2668
Tel: (971-4)
3523355
Fax: (971-4) 3527655
/ 2524796
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.45.12 |
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1 |
Rs.73.43 |
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Euro |
1 |
Rs.62.32 |
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.