MIRA INFORM REPORT

 

 

Report Date :           

29.11.2011

 

IDENTIFICATION DETAILS

 

Name :

FATIMA SUPERMARKET LLC

 

 

Registered Office :

Fatima Group Building, Old Airport Road, P O Box 4710, Abu Dhabi

 

 

Country :

United Arab Emirates 

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

28.08.1973

 

 

Com. Reg. No.:

17510, Abu Dhabi

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Wholesale and retail of consumer goods

 

 

No. of Employees :

500 Persons

 

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$ 2,500,000

 

 

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 – 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                                     : FATIMA SUPERMARKET LLC

Country of Origin                                    : Abu Dhabi, United Arab Emirates

Legal Form                                            : Limited Liability Company - LLC

Registration Date                                   : 28th August 1978

Commercial Registration Number            : 17510, Abu Dhabi

Trade Licence Number                            : 1027010

Chamber Membership Number                : 3287

Issued Capital                                        : UAE Dh 2,000,000

Paid up Capital                                      : UAE Dh 2,000,000

Total Workforce                                     : 500

Activities                                               : Wholesale and retail of consumer goods.

Financial Condition                                 : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 2,500,000

Person Interviewed                                 : Kamala Kannan, Finance Manager

 

COMPANY NAME

 

FATIMA SUPERMARKET LLC

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Fatima Group Building

Street               : Old Airport Road

PO Box             : 4710

Town                 : Abu Dhabi

Country             : United Arab Emirates

Telephone         : (971-2) 4433490 / 4456226

Facsimile          : (971-2) 4453839

Email                : fatimaho@emirates.net.ae / info@fatimagroup.ae

 

Premises

Subject operates from a large suite of offices and a supermarket that are owned and located in the Central Business Area of Abu Dhabi.

 

Branch Offices

 

     Location                                                                                          Description

 

·       The Old Market                                                                                 Supermarket premises

PO Box: 419

Abu Dhabi

Tel: (971-2) 6311283

 

·       Al Falah Street                                                                                  Supermarket premises

Abu Dhabi

Tel: (971-2) 6414006

 

·       Baniyas City                                                                                     Supermarket premises

Abu Dhabi

 

 

KEY PRINCIPALS

 

     Name                                                          Nationality                   Position

 

·       Elayadath Puthanveettil Sulaiman                     Indian                          Managing Director

 

·       Hassan Ali Matar Al Rayami                            Emirati                        Director

 

·       Kamala Kannan                                                   -                            Finance Manager

 

·       Rani Nasli                                                            -                            Human Resources Manager

 

·       Satya Jit                                                              -                            Business Development Manager

 

·       Mohamed Fazaluddine                                          -                            Purchasing Manager                             

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 28th August 1978

 

Legal Form                  : Limited Liability Company - LLC

 

Commercial Reg. No.  : 17510, Abu Dhabi

 

Trade Licence No.       : 1027010 (Expires 23/05/2012)

 

Chamber Member No. : 3287

 

Issued Capital              : UAE Dh 2,000,000

 

Paid up Capital            : UAE Dh 2,000,000

 

Name of Shareholder (s)                                         Percentage

 

·       Hassan Ali Matar Al Rayami                                      51%

 

·       Elayadath Puthanveettil Sulaiman                               49%

 

 

AFFILIATED COMPANIES

 

·       Fatima Trading & Catering

Airport Road

PO Box: 4710

Abu Dhabi

Tel: (971-2) 4433490

Fax: (971-2) 4451781

 

·       Fatima Trading & Supermarket Co LLC

Juma Salem Al Mohairabi Building

Rashid Bin Saeed Road

PO Box: 4710

Abu Dhabi

Tel: (971-2) 4453838

Fax: (971-2) 4451781

 

·       Fatima Shopping Centre LLC

Ruwi 112

Muscat

Oman

 

·       Fatima Hypermarket LLC

Ruwi 112

Muscat

Oman

 

·       Fatima General Market LLC

Abu Dhabi

 

·       Fatima Shopping Centre LLC

Fujairah

 

·       Fatima Shopping Centre LLC

Ajman

 

 

OPERATIONS

 

Activities: Engaged in the wholesale and retail of consumer goods.

 

Import Countries: India and Spain.

 

Operating Trend: Steady

 

Subject has a workforce of approximately 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 187,000,000                  UAE Dh 200,000,000

 

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

 

The above figures were provided by Mr Kamala Kannan, Finance Manager

 

 

BANKERS

 

·       Abu Dhabi Commercial Bank

Abu Dhabi Commercial Bank Building

Al Salam Street

PO Box: 939

Abu Dhabi

Tel: (971-2) 6962222 / 6962222

Fax: (971-2) 6776499 / 6776499

 

 

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.51.98

UK Pound

1

Rs.80.59

Euro

1

Rs.69.12

 

 

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.