MIRA
INFORM REPORT
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Report Date : |
14.08.2007 |
IDENTIFICATION DETAILS
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Name : |
CEEKEY TRADING LLC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
31.05.2006 |
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Com. Reg. No.: |
81196, |
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Legal Form : |
Sharikat Thet Massouliya Mahdoudeh (Limited Liability Company
- LLC) |
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Line of Business : |
Engaged in the import and distribution of general foodstuff products
and beverages |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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. |
Small |
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Maximum Credit Limit : |
US$ 50,000 |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name :
CEEKEY TRADING LLC
Country of Origin :
Legal Form :
Limited Liability Company - LLC
Registration Date :
31st May 2006
Commercial Registration Number :
81196,
Trade Licence Number :
582011
Membership Number :
108038
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
3
Line of Business :
Distributors of general foodstuff products and beverages.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
COMPANY NAME
CEEKEY TRADING LLC
ADDRESS
Registered & Physical Address
Building :
Area : Al Ras
PO Box : 122074
Town :
Country :
Telephone : (971-4) 2266370
Facsimile : (971-4)
2262215
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
Chevankuzhy Koya Nissarudheen Indian Managing Director
Abdullah Ali Ahmed Saleh Emirati Director
LEGAL FORM &
OWNERS
Date of Establishment : 31st
May 2006
Legal Form : Sharikat Thet
Massouliya Mahdoudeh (Limited Liability Company - LLC)
Commercial Reg. No. : 81196,
Trade Licence No. : 582011 (Expires
30th May 2008)
Membership No. : 108038
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
Abdullah Ali Ahmed Saleh 51%
Chevankuzhy Koya Nissarudheen 49%
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
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
import and distribution of general foodstuff products and beverages.
Import Countries : Europe and the
Subject has a workforce of 3 employees.
FINANCIAL HIGHLIGHTS
Subject is a newly formed business and as a result financial information
is not currently available.
BANKERS
Commercial Bank of
PO Box : 1709
Deira
Tel : (971-4) 2227121 / 2253222
Fax : (971-4) 2220943 / 2254565
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
Investigations undertaken in Dubai did not reveal any sign of payment
defaults or delays during initial trading stages, and subject is believed to
meet its payment obligations in a timely manner, nevertheless, and in view of
the company’s infancy and the lack of a more consistent payment and financial
record, a measure of caution is advisable and a close monitoring of subject’s
business development is recommended.
Maximum suggested credit figure: US$ 50,000
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. |
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%)