MIRA INFORM
REPORT
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Report Date : |
25.03.2011 |
IDENTIFICATION DETAILS
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Name : |
AL SARIYA GENERAL TRADING |
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Registered Office : |
Mohamed Mahmood Talal
Building, Ground Floor, Shop No. 2, Al Ras Street, Gold Market, Deira, P O
Box 45496, Dubai |
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Country : |
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Date of Incorporation : |
28.11.1999 |
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Com. Reg. No.: |
81707, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of fast consumable goods include soap, shampoo, hair colouring and scents |
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 : |
EUR 200,000 |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 : AL SARIYA GENERAL TRADING
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 28th November 1999
Commercial Registration Number : 81707,
Trade Licence Number : 515409
Chamber Membership Number : 57057
Invested Capital : UAE Dh 3,000,000
Total Workforce : 10
Activities :
Distributors of fast consumable goods
include soap, shampoo, hair
colouring and scents.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : EUR 200,000
COMPANY NAME
AL SARIYA GENERAL
TRADING
company ADDRESS
Registered & Physical Address
Building : Mohamed Mahmood Talal Building,
Ground Floor, Shop No. 2
Street :
Area : Gold Market, Deira
PO Box : 45496
Town :
Country :
Telephone : (971-4) 2253968 / 2266110 / 2268416
Facsimile : (971-4) 2253967 / 2260161
Email : saffrona@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
·
Ahmed
Ghuloom Hussain Ali Naqi Khoori Emirati Proprietor
& General Manager
·
Hussain
Khoda Rahm - Assistant
General Manager
·
Mostafa
Zia - Financial
Controller
LEGAL FORM & OWNERS
Date of Establishment : 28th
November 1999
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 81707,
Trade Licence No. : 515409
(Expires 26/11/2011)
Chamber Member No. : 57057
Invested Capital
: UAE Dh 3,000,000
Mr Ahmed Ghuloom Hussain
Ali Naqi Khoori is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the import and distribution of fast consumable goods include soap, shampoo,
hair colouring and scents.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a
workforce of 10 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
10,780,000 UAE Dh
11,400,000
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 business is
considered to be a fair trade risk and the above credit figure is deemed to be
within subject’s financial means.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.77 |
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|
1 |
Rs.72.66 |
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Euro |
1 |
Rs.63.06 |
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 |
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.