MIRA
INFORM REPORT
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Report Date : |
18.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
AL RAMA
INTERNATIONAL TRADING LLC |
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Registered Office : |
Al Mina Street,
Industrial Area No. 13, Al Mina Area (Port Area), P O Box 4146 & 24059, Sharjah |
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Country : |
United Arab
Emirates |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
7th January 1992 |
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Com. Reg. No.: |
23434, Sharjah |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Import and
distribution of chemicals, as well as building materials, hardware and tools,
auto spare parts, foodstuff, tobacco and cigarettes. |
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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Maximum Credit Limit : |
US$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : AL RAMA INTERNATIONAL TRADING LLC
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 7th January 1992
Commercial Registration Number : 23434, Sharjah
Trade Licence Number : 116062
Membership Number : 31045
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 43
Line of Business : Import and distribution of chemicals as well as building
materials, foodstuff, tobacco and cigarettes.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL RAMA
INTERNATIONAL TRADING LLC
ADDRESS
Registered & Physical Address
Street : Al Mina Street
Area : Industrial Area No. 13, Al
Mina Area (Port Area)
PO Box : 4146 & 24059
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5346550 / 5723722
Facsimile : (971-6) 5346551 / 5723191
Email : alchemi@alramauae.ae
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Port Area of Sharjah.
Branch Office (s)
Location Description
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Al Maktoum
Street Rented
Sales Office
PO Box 3228
Dubai
Tel : (971-4) 3334949 / 2226177
Fax : (971-4) 3200309 / 2224166
KEY PRINCIPALS
Name Nationality Position
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Ramsinghani
Aksmin Iranian Managing
Director
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Jassim Mohamed
Medfa Emirati Director
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Rege De Souza - Commercial
Manager
·
Vejish Mohan - Sales
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 7th
January 1992
Legal Form :
Limited Liability Company
Commercial Reg. No. : 23434,
Sharjah
Trade Licence No. : 116062
(Expires 5th January 2008)
Membership No. : 31045
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder
(s) Percentage
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Jassim Mohamed
Medfa 51%
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Ramsinghani
Aksmin 49%
AFFILIATED COMPANIES
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Truebell
Marketing & Trading LLC
Bin Hamouda Building, 4th Floor
Al Soor Street
PO Box : 4146
Sharjah
Tel : (971-6) 5726422 / 5723722
Fax : (971-6) 5725611
Email : tmtfood@emirates.net.ae
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
chemicals, as well as building materials, hardware and tools, auto spare parts,
foodstuff, tobacco and cigarettes.
Import Countries
: France, Spain, Italy and
the United States of America.
Export Countries: Qatar, Saudi Arabia, Kuwait, Oman, Bahrain, Iraq, Iran,
Yemen, East and West Africa.
Operating Trend
: Steady
Subject has a
workforce of 43 employees.
FINANCIAL HIGHLIGHTS
Financial highlights
provided by outside sources are given below :
Currency : United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/05: Year
Ending 31/12/06:
Total Revenue UAE Dh 14,700,000 UAE Dh 15,160,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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National Bank
of Sharjah
Al Boorj Avenue
PO Box : 4
Sharjah
Tel : (971-6) 5547747
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Abu
Dhabi Commercial Bank
Mina Road
PO Box : 4377
Sharjah
Tel : (971-6) 5737000
Fax : (971-6) 5725331
Acc No. 252626020002
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of transaction September 2002 October 2005
Credit amount 26,000
37,000
Amount overdue 0 0
Payment terms 60
days 60
days
Payment Method Letters
of Credit Letters
of Credit
Paying record No
Complaints No
Complaints
Currency US
Dollars US
Dollars
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Al Rama
International Trading LLC has been in business since 1992 and has gained a good
reputation for the quality of its products. It is engaged in the import and
distribution of chemicals as well as building materials, foodstuff, tobacco and
cigarettes.
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 and the above credit figure is
deemed to be admissible.
Maximum suggested
credit figure: US$ 250,000
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 |
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 |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)