MIRA INFORM REPORT

 

 

Report Date :           

08.02.2012

 

IDENTIFICATION DETAILS

 

Name :

AL ETISAL CHEMICALS TRADING EST

 

 

Registered Office :

Al Arooba Street, Al Nabaa Area, P O Box 49101 & 27614, Sharjah

 

 

Country :

United Arab Emirates 

 

 

Date of Incorporation :

21.04.1997

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Distributors of chemicals

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Trade Licence Expired

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

---

 

 

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 ETISAL CHEMICALS TRADING EST

Country of Origin                                    : Sharjah, United Arab Emirates

Legal Form                                            : Sole Proprietorship

Registration Date                                   : 21st April 1997

Trade Licence Number                            : 121981

Chamber Membership Number                : 39577

Invested Capital                                     : UAE Dh 100,000

Activities                                               : Distributors of chemicals

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

 

COMPANY NAME

 

AL ETISAL CHEMICALS TRADING EST

 

 

company ADDRESS

 

Registered & Physical Address

Street               : Al Arooba Street

Area                 : Al Nabaa Area

PO Box             : 49101 & 27614

Town                 : Sharjah

Country             : United Arab Emirates

Telephone         : (971-6) 5363296

Facsimile          : (971-6) 5363296

 

 

KEY PRINCIPALS

 

     Name                                                                      Nationality                               Position

·       Raheena Humaid Humaid Butt                                    Pakistani                                   Proprietor

·       Zul Faqar Ahmed Khan                                              Pakistani                                   General Manager

·       Issa Ibrahim                                                              Emirati                                      Local Sponsor

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 21st April 1997

 

Legal Form                  : Sole Proprietorship

 

Trade Licence No.       : 121981 (Expired 17/04/2011)

 

Chamber Member No. : 39577

 

Invested Capital           : UAE Dh 100,000

 

Mr Raheena Humaid Humaid Butt is the sole proprietor of the business.

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of chemicals.

 

 

FINANCIAL DATA

 

Companies registered in Sharjah are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

 

 

BANKERS

 

·       HSBC Bank Middle East

PO Box: 25

Sharjah

Tel: (971-6) 5537222

Fax: (971-6) 5537880

 

 

PAYMENT HISTORY

 

Unknown

 

 

GENERAL COMMENTS

 

Please note that subject’s trade licence number expired on 17th April 2011 and has not been renewed. We were unable to contact the subject directly during our investigation.

 

During the course of this investigation nothing detrimental was uncovered regarding subject’s operating history or the manner in which payments are fulfilled.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.92

UK Pound

1

Rs.77.31

Euro

1

Rs.64.12

 

 

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.