MIRA
INFORM REPORT
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Report Date : |
03.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL AQILI DISTRIBUTION LLC |
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Registered Office : |
Real Estate Department Building, Oud Metha Road, Oud Metha, PO Box 24842, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
24.04.1985 |
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Com. Reg. No.: |
40269, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of Fast Moving Consumer Goods and General Foodstuff Products. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 1,000,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL AQILI DISTRIBUTION LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 24th April 1985
Commercial Registration Number : 40269, Dubai
Trade Licence Number : 204663
Chamber Membership Number : 1993
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Total Workforce : 600
Activities : Import and distribution of fast moving consumer goods and general foodstuff products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 1,000,000
COMPANY NAME
AL AQILI DISTRIBUTION LLC
ADDRESS
Registered & Physical Address
Building : Real Estate
Department Building
Street : Oud Metha
Road
Area : Oud Metha
PO Box : 24842
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 3248000
Facsimile : (971-4)
3244420 / 3247999
Email : namartod@emirates.net.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
· Mohamed Saleh
Ahmad Mohamed Al Aqili Emirati Managing
Director
· Mohamed Saeed
Mohamed Al Aqili Emirati Director
· Albert Mikhael
Abou Diwan Lebanese General Manager
LEGAL FORM & OWNERS
Date of
Establishment : 24th
April 1985
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 40269, Dubai
Trade Licence No. : 204663 (Expires 19/04/2008)
Chamber Member No. : 1993
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Name of Shareholder (s) Percentage
· Mohamed Saleh
Ahmad Mohamed Al Aqili 50%
· Mohamed Saeed
Mohamed Al Aqili 50%
AFFILIATED COMPANIES
Subject is a
member of the Al Aqili Group of Companies, which was established in 1976 and is
now an international business house, which pursues business activities
primarily in the Gulf, Iran, Turkey, Central Asia and the Indian Sub-Continent
through its strong presence and extensive network of alliances.
The Al Aqili family has a long tradition
of business activities in trading, manufacturing and services, spanning over
fifty years. Founded by Mr Mohamed Saleh Al Aqili, the Group metamorphosed when
the current Vice Chairman and C.E.O. Mr. Mohamed Saeed Mohamed Al Aqili took
over the reins. The
Group has since then grown into a large diversified organization.
The Al Aqili
Group of Companies consists of the following concerns:
· Aqili Flooring LLC
Pyramids Centre, 3rd Floor,
Office No. 310
Umm Hureir Road
Oud Metha
PO Box: 31558
Dubai
Tel: (971-4) 3377717
Fax: (971-4) 3370379
Email: aqili@emirates.net.ae
·
Aqili Information Systems LLC
PO Box : 33152
Dubai
Tel
: (971-4) 3557664
Fax
: (971-4) 3592119
Email
: ais@emirates.net.ae
· Aqili
Technical & Industrial Services
PO Box : 1496
Dubai
Tel
: (971-4) 3965566
Fax
: (971-4) 3964289
Email : tom@aqili.com
· Dubai
Gulf Centre Trading
PO Box : 1496
Dubai
Tel
: (971-4) 3965566
Fax
: (971-4) 3963469
Email : ykoohiji@aqili.com
· Falcon
Industries LLC
PO Box : 10706
Dubai
Tel
: (971-4) 2858890
Fax
: (971-4) 2863132
Email
: gcsci@emirates.net.ae
· Gulf
Soap & Chemical Industries LLC
PO Box : 10706
Dubai
Tel
: (971-4) 2858110
Fax
: (971-4) 2852292
Email
: gcsci@emirates.net.ae
· Koohiji
Group
PO Box : 51304
Dubai
Tel
: (971-4) 3524162
Fax
: (971-4) 3525645
Email
: koohiji@emirates.net.ae
· Middle
East Abrasives
PO Box : 62140
Dubai
Tel
: (971-4) 3241400
Fax
: (971-4) 3241213
Email
: raja@emirates.net.ae
· Secure
Transport
PO Box : 29310
Dubai
Tel
: (971-4) 2825376
Fax
: (971-4) 2827692
Email
: secure@emirates.net.ae
· Maqilies LLC
PO Box : 1496
Dubai
· New National
Marketing & Trading LLC
PO Box : 24842
Dubai
Tel : (971-4)
3475252
Fax : (971-4)
3472257
Email : namartod@emirates.net.ae
OPERATIONS
Activities: Engaged in the import and distribution of fast moving consumer goods
and general foodstuff products.
Agencies
held include - California Garden, Foster Clark’s, Gandour, Savola, Gulfa,
Napco, Americana, Supermax, Jolly Time, Tata Tea and Varta
Import Countries: United States of America, Europe, Asia and the Far
East.
Subject has a workforce of approximately 600 employees.
FINANCIAL DATA
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
·
National Bank of Abu Dhabi
Deira Souk Branch
PO Box : 4436
Dubai
Tel : (971-4)
2226141
Fax : (971-4)
2226145
·
National Bank of Fujairah
PO Box 2979
Dubai
Tel : (971-4)
3971700 / 5078300
Fax : (971-4)
3979100 / 3973922
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
Al Aqili Distribution LLC has been in business since 1985 and
specialises in the import and distribution of fast moving consumer goods and
general foodstuff products.
The company is owned by members of the Al Aqili family who are wealthy
and respected businessmen with interests in a number of ventures throughout the
Middle East.
Subject’s operating history is clear and the financial position is
satisfactory. As such the company is deemed a fair trade risk and the above
credit figure is considered to be 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%)