MIRA INFORM REPORT

 

 

Report Date :

11.01.2012

 

IDENTIFICATION DETAILS

 

Name :

AL BAB AL AKHDHAR TRADING

 

 

Registered Office :

Atrium Centre, Mezzanine Floor, Suite M23, Khalid Bin Al Waleed Street, Bur Dubai, PO Box: 113599, Town: Dubai

 

 

Country :

United Arab Emirates

 

 

Date of Incorporation :

17.11.2009

 

 

Com. Reg. No.:

1050889

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Distributors of acids and alkalines, adhesives, detergents and disinfectants, industrial solvents, ink and printing materials, paint and varnish, non edible oil, tannery and dyeing materials.

 

 

No. of Employees :

4

 

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$ 100,000

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 30, 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 BAB AL AKHDHAR TRADING

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Sole Proprietorship

Registration Date                                   : 17th November 2009

Commercial Registration Number                        : 1050889, Dubai

Trade Licence Number                            : 631404

Chamber Membership Number                : 178042

Invested Capital                                     : UAE Dh 70,000

Total Workforce                                     : 4

Activities                                               : Distributors of acids and alkalines, adhesives, detergents and

                                                              disinfectants, industrial solvents, ink and printing materials, paint and

                                                              varnish, non edible oil, tannery and dyeing materials.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 100,000

 

COMPANY NAME

 

AL BAB AL AKHDHAR TRADING

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : Atrium Centre, Mezzanine Floor, Suite M23

Street               : Khalid Bin Al Waleed Street

Area                 : Bur Dubai

PO Box             : 113599

Town                 : Dubai

Country             : United Arab Emirates

 

Telephone         : (971-4) 3553251 / 3553252

Facsimile          : (971-4) 3553253

Email                : bluehilltrdg@gmail.com / fasiro@emirates.net.ae

 

Premises

 

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

 

 

KEY PRINCIPALS

 

            Name                                                                                       Position

 

Afrah Ali Yousif                                                                          Proprietor & General Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 17th November 2009

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.  : 1050889, Dubai

 

Trade Licence No.       : 631404 (Expires 10/11/2012)

 

Chamber Member No. : 178042

 

Invested Capital           : UAE Dh 70,000

 

Mr Afrah Ali Yousif is the sole proprietor of the business.

OPERATIONS

 

Activities: Engaged in the import and distribution of acids and alkalines, adhesives, detergents and disinfectants,                   industrial solvents, ink and printing materials, paint and varnish, non edible oil, tannery and dyeing

              materials.

 

Import Countries: Europe and the Far East.

 

Subject has a workforce of 4 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: United Arab Emirates Dirham (UAE Dh)

 

                                                            Year Ending 31/12/10:

 

Total Sales                                            UAE Dh 7,500,000

 

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

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

Standard Chartered Bank

Khalid Bin Waleed Street

PO Box: 999

Dubai

Tel: (971-4) 2520455

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Local sources report that the subject’s operating history is clear with payment obligations met in a generally timely manner. The financial position is satisfactory and the business is deemed a fair trade risk.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.22

UK Pound

1

Rs.80.84

Euro

1

Rs.66.80

 

 

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.