MIRA
INFORM REPORT
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Report Date : |
20.09.2007 |
IDENTIFICATION DETAILS
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Name : |
DESERT LANDSCAPE CO LLC |
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Registered Office : |
P O Box – 37579, |
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Country : |
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Date of Incorporation : |
23.08.1988 |
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Com. Reg. No.: |
57680, |
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Legal Form : |
Sharikat Thet Massouliya Mahdoudeh (Limited Liability Company
- LLC) |
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Line of Business : |
Engaged in the provision of landscaping and irrigation contracting
services as well as the cultivation and trading of plants, trees and seeds |
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$ 350,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name :
DESERT LANDSCAPE CO LLC
Country of Origin :
Legal Form :
Limited Liability Company - LLC
Registration Date :
23rd August 1988
Commercial Registration Number :
57680,
Trade Licence Number :
118464
Membership Number :
14259
Issued Capital :
UAE Dh 1,000,000
Paid up Capital :
UAE Dh 1,000,000
Total Workforce :
630
Line of Business :
Provision of landscaping and irrigation contracting services as
well as the cultivation and trading of
plants, trees and seeds.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
COMPANY NAME
DESERT LANDSCAPE CO LLC
ADDRESS
Registered & Physical Address
Building :
Street :
Area : Al Quoz
Industrial Area
PO Box : 37579
Town :
Country :
Telephone : (971-4) 3404440
Facsimile : (971-4)
3404441
Email : desertlandscape@desertgroup.ae
Premises
Subject operates from a large suite of offices that are rented and
located in the Industrial Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
Saeed Khalfan Al Gaith Emirati Managing Director
Julian Patrick Lee British Director
Buti Saeed Mohamed Al Ghandi Emirati General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 23rd
August 1988
Legal Form : Sharikat Thet
Massouliya Mahdoudeh (Limited Liability Company - LLC)
Commercial Reg. No. : 57680,
Trade Licence No. : 118464 (Expires
on 30/07/2008)
Membership No. : 14259
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder
(s) Percentage
Saeed Khalfan Al Gaith 34%
Julian Patrick Lee 33%
Emirates Investment & Development PJC,
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
provision of landscaping and irrigation contracting services as well as
the cultivation and trading of plants, trees
and seeds.
Import Countries :
Subject has a workforce of approximately 630 employees.
FINANCIAL HIGHLIGHTS
Companies registered in
BANKERS
National Bank of
PO Box : 777
Tel : (971-4) 2222241
Commercial Bank of
PO Box : 2668
Tel : (971-4) 3523355
Fax : (971-4) 3527655 / 2524796
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
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 within subject’s financial means.
Maximum suggested credit figure: US$ 350,000
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%)