MIRA
INFORM REPORT
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Report Date : |
18.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
MOHSEN FALLAH
ZADEH GENERAL TRADING LLC |
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Registered Office : |
Abdulbari
Alhashimi Building, Al Ras Street, Al Ras, P O Box 64894, Dubai |
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Country : |
United Arab
Emirates |
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Date of Incorporation : |
16th May 2004 |
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Com. Reg. No.: |
67737, Dubai |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Engaged in the import
and distribution of general merchandise. |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : MOHSEN FALLAH ZADEH GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 16th May 2004
Commercial Registration Number : 67737, Dubai
Trade Licence Number : 557171
Membership Number : 87374
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 4
Line of Business : Distributors of general merchandise.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
MOHSEN FALLAH ZADEH
GENERAL TRADING LLC
ADDRESS
Registered & Physical Address
Building : Abdulbari Alhashimi Building
Street : Al Ras Street
Area : Al Ras
PO Box : 64894
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2353225
Facsimile : (971-4) 2353226
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
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Mohsen Jafar
Fallah Zadeh Iranian Managing Director
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Shapour
Mohamed Baqeri Bermher Iranian Director
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Ali Reza
Mohamed Hussein Iranian Director
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Kalthem Ali
Othman Mahmood Jailan Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 16th May
2004
Legal Form :
Sharikat Thet Massouliya Mahdoudeh
(Limited Liability Company - LLC)
Commercial Reg. No. : 67737, Dubai
Trade Licence No. : 557171
(Expires 15th May 2008)
Membership No. : 87374
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s)
Percentage
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Kalthem Ali
Othman Mahmood Jailan 51%
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Mohsen Jafar
Fallah Zadeh 25%
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Shapour
Mohamed Baqeri Bermher 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.
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
general merchandise.
Import Countries
: Europe and the Far East.
Subject has a
workforce of 4 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in Dubai, United Arab Emirates are not legally required to make
their accounts public and no financial information was released by the company
or submitted by outside sources.
BANKERS
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Bank Melli
Iran
PO Box : 1894
Baniyas Square
Dubai
Tel : (971-4) 2216777
Fax : (971-4) 2231589
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit
figure of US$ 150,000:
Established in
2004, subject is owned and managed by Iranian nationals who operate on Dubai
under the local sponsorship of Mr Kalthem Ali Othman Mahmood Jailan.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company is deemed a fair trade risk.
Maximum suggested
credit figure: US$ 100,000
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%)