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Report Date : |
20.11.2012 |
IDENTIFICATION DETAILS
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Name : |
OMAR AL MIDFA BUILDING MATERIALS TRADING EST |
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Registered Office : |
Industrial Area No.11, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
03.04.2000 |
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Com. Reg. No.: |
35708 Sharjah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of Pipe Fittings, Pipe and Hole Cutting Machines, Grooved
Valves and Grooving Machines. |
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No. of Employees : |
10 |
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RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
United Arab Emirates - ECONOMIC OVERVIEW
The UAE has an open economy with a high per capita income
and a sizable annual trade surplus. Successful efforts at economic
diversification have reduced the portion of GDP based on oil and gas output to
25%. Since the discovery of oil in the UAE more than 30 years ago, the UAE has
undergone a profound transformation from an impoverished region of small desert
principalities to a modern state with a high standard of living. The government
has increased spending on job creation and infrastructure expansion and is
opening up utilities to greater private sector involvement. In April 2004, the
UAE signed a Trade and Investment Framework Agreement with
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Source : CIA |
Company Name :
OMAR AL MIDFA BUILDING MATERIALS TRADING EST
Country of Origin :
Legal Form :
Sole Proprietorship
Registration Date :
3rd April 2000
Commercial Registration Number :
35708, Sharjah
Trade Licence Number :
504265
Chamber Membership Number :
47337
Invested Capital :
UAE Dh 150,000
Total Workforce :
10
Activities :
Distributors of Pipe Fittings, Pipe and Hole Cutting Machines, Grooved
Valves and Grooving Machines
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
OMAR AL MIDFA BUILDING MATERIALS TRADING EST
Location : Industrial
Area No. 11
PO Box : 29283
Town : Sharjah
Country :
Telephone : (971-6) 5345598
Facsimile : (971-6)
5345569
Email : info@omaralmidfa.com
/ midfasupply@hotmail.com
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Industrial Area of Sharjah.
Name Position
· Omar Abdulaziz Al
Midfa Proprietor
· Thomas
Palalthinkal General
Manager
· Joe George Marketing
Manager
Date of
Establishment : 3rd
April 2000
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 35708, Sharjah
Trade Licence No. : 504265 (Expires 02/04/2013)
Chamber Member No. : 47337
Invested Capital : UAE Dh 150,000
Mr. Omar Abdulaziz Al Midfa is the sole proprietor of the business.
Activities: Engaged in the import and distribution of pipe fittings, pipe and hole
cutting machines, grooved valves and grooving machines.
Import Countries: Europe and the
Brand Names: NATIONAL, 100 TUNG, MERIT and TUWEI
Operating Trend: Steady
Subject has a workforce of 10 employees.
Financial highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales UAE
Dh 8,600,000 UAE Dh
8,925,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Bank of
PO Box: 1671
Sharjah
Tel: (971-6)
5684231
Fax:
(971-6) 5681025
No complaints regarding subject’s payments have been reported.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.97 |
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1 |
Rs.87.50 |
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Euro |
1 |
Rs.70.16 |
INFORMATION DETAILS
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Report
Prepared by : |
NIT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.