MIRA INFORM
REPORT
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Report Date : |
27.05.2011 |
IDENTIFICATION DETAILS
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Name : |
DAIRA HOUSEHOLD TRADING |
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Registered Office : |
Industrial Area
No. 15, P O Box 61853, Sharjah |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
21.10.2009 |
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Com. Reg. No.: |
26294, Sharjah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesalers and retailers
of kitchenware, pottery, cookers,
crockery, cutlery, ironing boards, and stainless steel utensils |
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$ 250,000 |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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United Arab Emirates |
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 |
Bottom of Form
SUMMARY
Company Name : DAIRA HOUSEHOLD TRADING
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 21st October 2009
Commercial Registration Number : 26294, Sharjah
Trade Licence Number : 602618
Invested Capital : UAE Dh 150,000
Total Workforce : 6
Activities :
Wholesalers and retailers of kitchenware,
pottery, cookers, crockery,
cutlery, ironing boards, and stainless steel utensils.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
Person Interviewed : Shameer P Ahsraf, Financial Controller
COMPANY NAME
DAIRA HOUSEHOLD
TRADING
company ADDRESS
Registered & Physical Address
Location : Industrial Area No. 15
PO Box : 61853
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5348314
Facsimile : (971-6) 5348315
Mobile : (971-50) 7728123
Email : dairauae@gmail.com
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Industrial Area of Sharjah.
KEY PRINCIPALS
Name Position
·
Sayed Mohamed Sayed Bin Sobah Al Falasi Proprietor
& General Manager
·
A C Abdulrahim Commercial
Manager
·
Shameer P Ahsraf Financial
Controller
LEGAL FORM & OWNERS
Date of Establishment : 21st
October 2009
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 26294,
Sharjah
Trade Licence No. : 602618
(Expires 26/10/2011)
Invested Capital
: UAE Dh 150,000
Mr Sayed Mohamed
Sayed Bin Sobah Al Falasi is
the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of kitchenware,
pottery, cookers, crockery, cutlery, ironing boards,
and stainless steel utensils.
Import
Countries: Europe, Egypt,
Jordan, Iran and India
International
Suppliers:
·
Filtex Italy
·
Turval Egypt
·
Dimlag Jordan
·
Noritaz Iran
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Classic Steel & Aluminium Utensils India
Operating Trend: Steady
Subject has a
workforce of 6 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
11,380,000 UAE Dh
12,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Shameer P Ahsraf, Financial Controller.
BANKERS
·
National
Bank of Sharjah
PO Box: 4
Sharjah
Tel: (971-6) 5547747
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.45.29 |
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UK Pound |
1 |
Rs.73.84 |
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Euro |
1 |
Rs.64.18 |
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.