MIRA
INFORM REPORT
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Report Date : |
07.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
DYNATRADE MOTORS |
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Registered Office : |
Mohamed Omar Bin
Haidar Building, Airport Road, Al Garhoud, P O Box 20010, Dubai |
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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 : |
23rd May 1996 |
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Com. Reg. No.: |
36627, Dubai |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import
and distribution of automotive spare parts and components, including tyres,
batteries, lubricants and greases. |
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 : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : DYNATRADE MOTORS
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 23rd May 1996
Commercial Registration Number : 36627, Dubai
Trade Licence Number : 241945
Membership Number : 38671
Invested Capital : UAE Dh 500,000
Total Workforce : 18
Line of Business : Distributors of automotive spare parts and components.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
DYNATRADE MOTORS
ADDRESS
Registered & Physical Address
Building : Mohamed Omar Bin Haidar Building
Street : Airport Road
Area : Al Garhoud
PO Box : 20010
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2820510 / 2650768
Facsimile : (971-4) 2820525 / 2650962
Email : dynatrade@emirates.net.ae
Premises
Subject operates
from a small suite of offices, a showroom and warehouse that are rented and
located in the Central Business Area of Dubai.
KEY PRINCIPALS
·
Sheikh
Abdullah Bin Salem Bin Sultan Alqassemi Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 23rd
May 1996
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 36627, Dubai
Trade Licence No. : 241945
Membership No. : 38671
Invested Capital
: UAE Dh 500,000
Mr Sheikh Abdullah
Bin Salem Bin Sultan Alqassemi is the sole proprietor of the business.
Note to the Legal Form
Commonly referred to as an establishment, the Company Law defines Mouassasa Khassa as the business of an individual where liability for all debts is unlimited. The business is the entire responsibility of its proprietor, who is liable for all its debts to the extent of his entire wealth. There are no legal requirements concerning the amount of capital of a sole proprietor.
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
automotive spare parts and components, including tyres, batteries, lubricants
and greases.
Subject also sells pre-owned vehicles, provides cargo
transportation services and deals in
construction equipment.
Import Countries
: Europe and the Far East.
Brand Names : LUCAS, SUAKI, NDG, APCO, NIKKI, AISAN,
TAMA, SUN, HITACHI, SHIMAHIDE, ANABOND, DIAMOND, HKT, IZUMI, CENTURY, GMB, HDK
and TOKICO.
Operating Trend
: Steady
Subject has a
workforce of 18 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 15,290,000 UAE Dh 16,000,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Banque
Indosuez
PO Box : 9256
Dubai
Tel : (971-4) 3314211
Fax : (971-4) 3313201
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
1996, subject is involved in the import and distribution of automotive spare
parts and components, including tyres, batteries, lubricants and greases.
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 business is deemed a fair trade risk.
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. |
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%)