Attachment 1
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Report
Update On |
11th June, 1999 |
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Report on |
AHUJA ELECTRICALS LLC |
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Registered Office |
Sayed Al Gaizi, Building No. 2, Off Yusuf Baker Road, P. O. ox 11074,
Dubai, United Arab Emirates |
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Tel. No. |
971 4 236651 / 231561 / 282450 / 660261 |
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Fax No. |
971 4 274981 |
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E-Mail |
-- |
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Telex |
47723 AHUJA EM |
Attachment 2
S U M M A R Y
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Incorporated |
1973 |
Status |
Satisfactory |
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Registration No. |
-- |
Chief Executive |
Mr. Mohan Lal Ahuja |
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Capital (Dh) |
300,000 |
Payments |
Regular |
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Sales (Dh) |
50,000,000 |
Litigation |
-- |
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Net Worth (Dh) |
-- |
Banking Reputation |
Satisfactory |
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No. of Employees |
22 |
Auditors |
-- |
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Credit Rating |
A (See attachment 3) |
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SENIOR
COMPANY PERSONNEL
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Name |
Position |
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1. Mohan Lal Ahuja |
Managing Partner |
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2. Bitamber Ahuja |
Sales Director /
Partner |
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3. Kanayo Ahuja |
Financial Director /
Partner |
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4. M. Manish |
Assistant Managing
Partner |
Total
Employees : 22
PAYMENTS
No
complaints have been heard regarding payments from local suppliers or banks.
We
consider it is acceptable to deal with subject for MEDIUM amounts.
Opinion
on maximum credit : Dh 1,000,000
Opinion
on the credit figure of US DLRS 100,000 :
We
consider the above figure to be within the Company's financial capabilities.
PRINCIPAL
BANKERS
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NAME |
ABN AMRO
BANK N.V. |
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Branch |
Khalid
Bin Waleed Road |
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P.O. Box |
2567 |
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Town |
Dubai |
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Telephone |
(4) 512200
/ 511011 / 518480 |
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Fax |
(4)
511555 |
FINANCIAL
INFORMATION
Balance
sheets are not available. However, the subject interviewed offered the
following information :
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Sales Turnover |
Dh
40,000,000 - 1995 – exact Dh 45,000,000
- 1996 – exact Dh
43,000,000 - 1997 – exact Dh
50,000,000 - 1998 – approx. |
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Net Profit |
not
given, but stated to be profitable |
LEGAL
STATUS AND HISTORY
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Date Started |
1973 |
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Capital |
Dh 300,000 |
Limited
Liability Company with the following directors and shareholders :
1.
Mohan Lal Ahuja (Indian national)
2.
Bitamber Ahuja (brother of the above)
3.
Kanayo Ahuja (brother of the above)
4.
Unnamed local sponsor*
* The local partner, according to UAE laws must hold a minimum of
51 % of the capital, however, in practice and unofficially the partner gets a
fixed annual percentage of the profit and a sponsorship fee without any
investment in the company.
Affiliated
Companies of Ahuja Electricals LLC :
1.
Ahuja Electrical Est
P.O. Box : 11074
Dubai
2.
Ahuja Electrical Appliances Branch
Sharjah
(To be
opened within the last three months of 1998)
ACTIVITIES
The
Company is involved in the following activities :
Trading
as importers and wholesalers of electrical equipment and materials.
Imports
from UK, Germany, Australia and Japan.
FACILITIES
The
Company has the following facilities :
Rented
premises comprising administrative offices at the heading address, as well as a
showroom and a warehouse in Sharjah, Tel : (971 6) 357455.
GENERAL
INFORMATION
Millennium
Compliance (Y2K)
The
subject company has been interviewed regarding the compliance of its computer systems
with the year 2000 with the following results:
1.
The company states that all necessary steps have been taken and it will
be Y2K compliant before the end of 1999.
2. The company says that it does not anticipate any significant problems resulting from any possible Y2K non-compliance on the part of its customers or suppliers.
Attachment 3
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SCORE SHEET |
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SCORE |
CREDIT 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. Maybe drawn to slightly difficult position as
unfavourable conditions arise. Minimal assurance for timely payment on
interest and principal sums |
Moderate |
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26-40 |
B |
Unfavourable & favourable factors carry similar
weight in credit consideration. Capability to overcome financial difficulties
seems comparatively limited or considered not known. Capability to pay both
interest and principal sums is doubtful |
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 |
Attachment 4
ACKNOWLEDGEMENT
Dear Sir/Madam,
As part of our control
system, please fax/email us this note
upon receipt of this report. If we do not receive the acknowledgement within 24
hours, we will assume that our report meets your requirement. If you have any
suggestion to help us improve our reports and services, please do not hesitate
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Thank you.
________________________________________________________________________
To : MIRA INFORM PRIVATE
LIMITED
From :
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Feedback – Please tick
the appropriate box.
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Company’s Stamp &
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