MIRA
INFORM REPORT
|
Report Date : |
9th
November, 2006 |
IDENTIFICATION
DETAILS
|
Name : |
SKY MOON TRADING CO. LLC |
|
|
|
|
Registered Office : |
Ahmed
Zarouni Building, Shop No. 3, Deira, PO Box: 32694, Dubai, United Arab
Emirates |
|
|
|
|
Country : |
United
Arab Emirates |
|
|
|
|
Date of Incorporation : |
16.12.1995 |
|
|
|
|
Com. Reg. No.: |
51726, Dubai |
|
|
|
|
Legal Form : |
Sharikat
Thet Massouliya Mahdoudeh (Limited Liability Company - LLC) |
|
|
|
|
Line of Business : |
Importer
and distributor of ready made garments, footwear, jewellery, watches,
perfumes and cosmetics. |
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$
125,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular
|
|
|
|
|
Litigation : |
Clear |
SUMMARY
|
Company Name |
SKY MOON TRADING CO LLC |
|
Country of Origin |
Dubai, United Arab Emirates |
|
Legal Form |
Limited Liability Company - LLC |
|
Registration Date |
16th December 1995 |
|
Commercial Registration Number |
51726, Dubai |
|
Trade Licence Number |
238947 |
|
Membership Number |
36034 |
|
Issued Capital |
UAE Dh 300,000 |
|
Paid up Capital |
UAE Dh 300,000 |
|
Total Workforce |
4 |
|
Line of Business |
Distributors of ready made garments, footwear, jewellery, watches, perfumes and cosmetics. |
|
Financial Condition |
Fair |
|
Payments |
Nothing detrimental uncovered |
|
Operating Trend |
Steady |
COMPANY NAME
SKY MOON
TRADING CO LLC
ADDRESS
Registered & Physical Address
Building : Ahmed Zarouni Building, Shop No.
3
Area : Deira
PO Box : 32694
Town : Dubai
Country :
United Arab Emirates
Telephone : (971-4) 2254370
Facsimile : (971-4) 2254370
Mobile : (971-50) 6502123
Email : supreme@emirates.net.ae
Premises
Subject
operates from a small suite of offices and a showroom that are rented and
located in the Central Business Area of Dubai.
Branch Offices
·
Juma
Al Sayhi Building
Deira
Dubai
Tel : (971-4) 2350541
KEY PRINCIPALS
Name Nationality Position
·
Ramchandra
Kishin Das Kamra Indian Managing Director
·
Chandan
Ramchandra Kamra Indian Director
·
Hashem
Essa Hashem Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 16th December 1995
Legal Form : Sharikat Thet Massouliya Mahdoudeh (Limited Liability Company - LLC)
Commercial Reg. No. : 51726, Dubai
Trade Licence No. : 238947 (Expires 29th August
2007)
Membership No. : 36034
Issued
Capital : UAE Dh 300,000
Paid
up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
·
Hashem
Essa Hashem 51%
·
Ramchandra
Kishin Das Kamra 25%
·
Chandan
Ramchandra Kamra 24%
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.
AFFILIATED COMPANIES
·
Al
Jawhara Al Arabia Trading
PO Box : 32694
Dubai
LINE OF BUSINESS
Operations
: Engaged in the
import and distribution of ready made garments, footwear, jewellery, watches,
perfumes and cosmetics.
Import
Countries :
Europe and the Far East.
Operating
Trend : Steady
Subject
has a workforce of 4 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
3,680,000 UAE
Dh 3,750,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
ABN
Amro Bank
Deira Branch
PO Box : 2567
Dubai
Tel : (971-4) 3512200
Note: Subject remains registered with the Dubai Chamber of Commerce as
banking with ABN Amro Bank but also holds an account with the below bank.
·
Abu
Dhabi Commercial Bank
Al Rigga Road
PO Box : 5550
Dubai
Tel : (971-4) 2958888 / 3228141
Fax : (971-4) 2959310 / 3279632
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established
in 1995, subject is involved in the import and distribution of ready made garments,
footwear, jewellery, watches, perfumes and cosmetics.
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 company is deemed a fair trade risk.
Maximum
suggested credit figure: US$ 125,000
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|