MIRA
INFORM REPORT
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Report Date : |
02.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
MODERN STONE BUILDING MATERIALS TRADING LLC |
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Registered Office : |
Afraa Majid Alowais Building, Al Khaleej Street, Al Daghaya, 122014
& 117035 & 40362, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
17.09.2003 |
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Com. Reg. No.: |
64141, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of Steel Products, Building Hardware,
Construction Materials, and Industrial Plant Equipment. |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : MODERN STONE BUILDING MATERIALS TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 17th September 2003
Commercial Registration Number : 64141, Dubai
Trade Licence Number : 549046
Chamber Membership Number : 80968
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 20
Activities : Import and distribution of steel products, building hardware, construction materials, and industrial plant equipment.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
MODERN STONE BUILDING MATERIALS TRADING LLC
ADDRESS
Registered & Physical Address
Building : Afraa Majid
Alowais Building
Street : Al Khaleej
Street
Area : Al Daghaya
PO Box : 122014 &
117035 & 40362
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2628888
Facsimile : (971-4)
2628988
Mobile : (971-50) 6503455
Email : stone@modostone.com
Premises
Subject operates from a medium sized suite of offices and a warehouse
and a showroom that are rented and located in the Suburban Business Area of
Dubai.
KEY PRINCIPALS
Name Nationality Position
· Ali Reza Jafar
Ghulamian Iranian Managing Director
· Ehsan Mohamed Ali
Naqdi Iranian Director
· Taleb Ibrahim
Nasser Emirati Director
LEGAL FORM & OWNERS
Date of
Establishment : 17th
September 2003
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 64141, Dubai
Trade Licence No. : 549046 (Expires 16/09/2008)
Chamber Member No. : 80968
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Taleb Ibrahim
Nasser 51%
· Ali Reza Jafar
Ghulamian 25%
· Ehsan Mohamed Ali
Naqdi 24%
OPERATIONS
Activities: Engaged in the import and distribution of basic steel products,
building hardware, such as nuts, bolts,
screws, and nails, as well as construction
materials, paints and varnishes, construction chemicals and industrial plant
equipment.
Import Countries: China, Japan, United Kingdom and the United States
of America.
Operating Trend: Steady
Subject has a workforce of 20 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Sales UAE
Dh 9,800,000 UAE Dh
11,750,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
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Bank Saderat Iran
Al Maktoum Street
PO Box : 4182
Dubai
Tel : (971-4)
2221161
Fax : (971-4)
2234460
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The Standard Chartered Bank
Khalid Bin Waleed
Street
Mankhool Branch
PO Box : 999
Dubai
Tel : (971-4)
2520455
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.
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%)