MIRA INFORM REPORT

 

 

Report Date :           

26.11.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

AL REYAMI INTERIORS

 

 

Formerly Known As :

AL REYAMI OFFICE FURNISHINGS & GENERAL TRADING

 

 

Registered Office :

Al Reyami Group Building, Umm Hureir Road, Al Karama, P O Box 14662, Dubai

 

 

Country :

United Arab Emirates 

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

13.12.1993

 

 

Com. Reg. No.:

29676, Dubai

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Distributors of office furniture and equipment

 

 

No. of Employees :

3500 Persons

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

US$ 3,800,000

 

 

Status :

Good

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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 REYAMI INTERIORS

Previously Known As                              : AL REYAMI OFFICE FURNISHINGS & GENERAL TRADING

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Sole Proprietorship

Start Date                                             : 13th December 1993

Commercial Registration Number            : 29676, Dubai

Trade Licence Number                            : 245959

Invested Capital                                     : UAE Dh 100,000,000

Total Workforce                                     : 3,500

Activities                                               : Distributors of office furniture and equipment.

Financial Condition                                 : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

ARIC Credit Rating                                 : A

Recommended Credit Limit                     : US$ 3,800,000

Person Interviewed                                 : Anjam Mukhrjee, Finance Manager

 

COMPANY NAME

 

AL REYAMI INTERIORS

 

 

PREVIOUSLY KNOWN AS

 

AL REYAMI OFFICE FURNISHINGS & GENERAL TRADING

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Al Reyami Group Building

Street               : Umm Hureir Road

Area                 : Al Karama

PO Box             : 14662

Town                 : Dubai

Country             : United Arab Emirates

Telephone         : (971-4) 3364666

Facsimile          : (971-4) 3366775

Email                : rof@emirates.net.ae / infodesk@reyami.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

 

·       PO Box: 43080                                                                                 Rented showroom premises

Abu Dhabi

     Tel: (971-2) 6741126

     Fax: (971-2) 6746123

 

·       PO Box: 45442                                                                                 Rented showroom premises

Sharjah

     Tel: (971-6) 5741755

     Fax: (971-6) 5741756

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Rashid Mubarak Saif Al Reyami                                                         Proprietor & General Manager

 

·       K P Sridharan                                                                                   Assistant General Manager

 

·       Anjam Mukhrjee                                                                                Finance Manager

 

·       Gopinthan Menon                                                                              Commercial Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 13th December 1993

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.  : 29676, Dubai

 

Trade Licence No.       : 245959 (Expires 03/08/2012)

 

Invested Capital           : UAE Dh 100,000,000

 

Mr Rashid Mubarak Saif Al Reyami is the sole proprietor of the business.

 

 

AFFILIATED COMPANIES

 

·       Al Reyami Shipping & Logistics

·       Styrene Insulation Industries

·       Al Reyami Electricals Trading

·       Al Karama Glass & Aluminium

·       Al Reyami Electro-mechanical Contracting

·       Al Reyami Construction Equipment Rental

·       Al Reyami Steel Construction

·       Al Reyami Technical Services

·       Al Reyami Ship Maintenance

·       Al Reyami Travels

·       Richmond Pools & Leisure

·       Rockworth Contracting

·       Rockworth Neon

·       Richmond General Maintenance

·       Hitec Interiors

·       Hitec Auto Services

·       Continental Fabrics

·       Al Reyami Joinery

·       Continental Printing Press

·       Excel International

·       Rockwood International

·       Al Reyami Graphics

·       Excel Middle East

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of interior furniture, office furniture, office and banking equipment, storage and material handling equipment, flooring and ceiling, soft furnishings, garage doors and traffic barriers. Subject also offers fitting out services and contracting works.

 

Import Countries: Europe and the United States of America.

 

Operating Trend: Steady

 

Subject has a workforce of approximately 3,500 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 421,000,000                  UAE Dh 450,000,000

 

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

 

The above figures were provided by Mr Anjam Mukhrjee, Finance Manager

 

 

BANKERS

 

·       Abu Dhabi Commercial Bank

Al Rigga Road

PO Box: 5550

Dubai

Tel: (971-4) 2958888 / 3228141

Fax: (971-4) 2959310 / 3279632

 

 

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.52.17

UK Pound

1

Rs.80.64

Euro

1

Rs.69.43

 

 

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.