MIRA INFORM REPORT
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Report Date : |
23rd May 2006 |
IDENTIFICATION DETAILS
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Name : |
NATURE
SCAPES LLC |
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Registered Office : |
Obaid Saeed Bin Essa
Warehouse Sheikh Zayed Road, Al Quoz
Industrial Area 10237 & 38055, Dubai United
Arab Emirates |
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Date of Incorporation : |
19th
November 2003 |
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Com. Reg. No.: |
64931,
Dubai |
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Legal Form : |
Limited
Liability Company – LLC |
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Line of Business : |
Providers
of landscaping and gardening services. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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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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Maximum Credit Limit : |
US$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
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Company Name |
NATURE SCAPES LLC |
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Country of Origin |
Dubai, United Arab Emirates |
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Legal Form |
Limited Liability Company - LLC |
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Registration Date |
19th November 2003 |
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Commercial Registration Number |
64931, Dubai |
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Trade Licence Number |
550965 |
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Membership Number |
82421 |
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Issued Capital |
UAE Dh 600,000 |
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Paid up Capital |
UAE Dh 600,000 |
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Total Workforce |
9 |
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Line of Business |
Providers of landscaping and gardening services. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
NATURE SCAPES LLC
ADDRESS
Registered & Physical Address
Building : Obaid Saeed Bin Essa Warehouse
Street : Sheikh Zayed Road
Area : Al Quoz Industrial Area
PO Box : 10237 & 38055
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3479601
Facsimile : (971-4) 3479602
Mobile : (971-50) 6510758
Premises
Subject operates from a small suite of offices and a warehouse that are rented and located in the Industrial Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
Bandi Parbhakar Rao Indian Managing
Director
Bajwan Tirathdas Gidwani Indian Director
Khemaney Suresh Radhakishin Singaporean Director
Mohamed Abdullah Abdulrahim Ahmed Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 19th November 2003
Legal Form : Sharikat Thet Massouliya Mahdoudeh (Limited
Liability Company - LLC)
Commercial Reg. No. : 64931, Dubai
Trade Licence No. : 550965 (Expires 17th November 2006)
Membership No. : 82421
Issued Capital : UAE Dh 600,000
Paid up Capital : UAE Dh 600,000
Name of Shareholder (s) Percentage
Mohamed Abdullah Abdulrahim Ahmed 51%
Bandi Parbhakar Rao 20%
Bajwan Tirathdas Gidwani 15%
Khemaney Suresh Radhakishin 14%
Note to the Legal Form
A Limited Liability Company (LLC) is defined in the Company Law as a company incorporated with not less than two and not more than fifty shareholders, each responsible only for the liabilities of the company to the extent of their share participation in the capital of the company.
The Company Law provides that the capital of a Limited Liability Company (LLC) should not be less than UAE Dh 300,000, which should be divided into equal shares of a value not less than UAE Dh 100 each.
This type of company may engage in any form of legitimate business, with the exception of insurance, banking and investment of funds.
Non UAE Participation
The participation of non-Emirati in a trade or business in the United Arab Emirates is governed by the Foreign Business Investment Law, which sets capital requirements and requires 51 percent Emirati participation in capital and profits.
It is common for the 51 percent to be held by the UAE national on paper only with the foreign partner(s) providing all the capital requirements for the company and paying an annual fee to the local partner.
Under this arrangement the above ownership may not reflect the actual profit distribution within the company, as the company may have internal management agreements in place that provides full management of the company in return for a share of the company’s assets and profits. This internal relationship may or may not be recognised by law depending on the way the internal agreement is made.
LINE OF BUSINESS
Operations : Engaged in the provision of landscaping
and gardening services.
Operating Trend : Steady
Subject has a workforce of 9 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : United Arab Emirates Dirham (UAE Dh)
Year Ending 31/12/04 : Year Ending 31/12/05 :
Total Revenue UAE Dh 4,100,000 UAE Dh 4,600,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Habib Bank Ltd
Jamal Abdul Nasser Square
PO Box : 3306
Dubai
Tel : (971-4) 3232212
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 2003, subject is involved in the provision of landscaping and gardening services.
During the course of this investigation nothing detrimental was uncovered regarding subject’s operating history or the manner in which payments are fulfilled. As such the company is considered to be a fair trade risk.
Maximum suggested credit figure: US$ 150,000
RATING EXPLANATIONS
RATING
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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 |
Unfavourable & favourable
factors carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |