MIRA INFORM REPORT

 

 

Report Date :

07.10.2011

 

IDENTIFICATION DETAILS

 

Name :

SULAIMAN AL KHAIR READYMADE GARMENTS

 

 

Registered Office :

Al Jarf Area PO Box 31857, Dubai Ajman

 

 

Country :

United Arab Emirates

 

 

Date of Incorporation :

21.09.2011

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Wholesalers and retailers of ready made garments, textiles and fabrics.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

--

NB

                                       New Business

 

--

 

Status :

New Company

 

 

Payment Behaviour :

Unknown

 

 

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

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

UAE

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                                     : SULAIMAN AL KHAIR READYMADE GARMENTS

Country of Origin                                    : Ajman, United Arab Emirates

Legal Form                                            : Sole Proprietorship

Registration Date                                   : 21st September 2011

Trade Licence Number                            : 61427

Chamber Membership Number                : 63632

Invested Capital                                     : UAE Dh 10,000

Total Workforce                                     : 2

Activities                                               : Wholesalers and retailers of ready made garments, textiles and fabrics.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

 

 

 

 

COMPANY NAME

 

 SULAIMAN AL KHAIR READYMADE GARMENTS

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : Al Jarf Area

 

PO Box             : 31857, Dubai

 

Town                 : Ajman

Country             : United Arab Emirates

 

Please note that subject uses the PO Box of “Globe Garments Trading” in Dubai.

 

Premises

 

Subject operates from a small suite of offices and a showroom that are rented and located in the Central Business Area of Ajman.

 

 

KEY PRINCIPALS

 

     Name                                                                       Nationality                     Position

 

·       Manish Kanoo Bhai                                                   Indian                            Proprietor & General Manager

 

·       Sulaiman Al Khair Mohamed Ali Al Bloushi                  Emirati                          Local Sponsor

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 21st September 2011

 

Legal Form                  : Sole Proprietorship

 

Trade Licence No.       : 61427 (Expires 20/09/2012)

 

Chamber Member No. : 63632

 

Invested Capital           : UAE Dh 10,000

 

Mr Manish Kanoo Bhai is the sole proprietor of the business.

 

 

OPERATIONS

 

Activities: Engaged in the wholesale and retail of ready made garments, textiles and fabrics.

 

Import Countries: Europe and the Far East.

 

Subject has a workforce of 2 employees.

 

 

FINANCIAL DATA

 

Subject is a newly formed business and as a result financial information is not currently available.

 

 

BANKERS

 

·       Habib Bank Ltd

Murshid Bazaar

PO Box: 888

Dubai

Tel: (971-4) 2221281

Fax: (971-4) 2284631

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

In view of subject’s infancy, extensive payment and financial are not available, therefore dealings are recommended to be on secured terms, and a close monitoring of subject’s business development is advisable.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.19

UK Pound

1

Rs.75.92

Euro

1

Rs.65.44

 

 

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.