MIRA
INFORM REPORT
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Report Date : |
03.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
SAPNA GENERAL TRADING LLC |
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Registered Office : |
New Industrial Area, PO Box6315, Ajman |
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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 : |
16.02.2001 |
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Com. Reg. No.: |
27157,
Ajman |
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Legal Form : |
Limited Liability
Company - LLC |
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Line of Business : |
Wholesale and
Retail of Readymade Garments and Textiles. |
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 :
SAPNA GENERAL TRADING LLC
Country of Origin : Ajman,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 16th
February 2001
Commercial
Registration Number : 27157, Ajman
Trade Licence Number : 36797
Chamber Membership
Number : 16131
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 22
Activities :
Wholesale and retail of readymade garments and textiles.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 200,000
COMPANY NAME
SAPNA GENERAL TRADING LLC
ADDRESS
Registered & Physical Address
Location : New
Industrial Area
PO Box : 6315
Town : Ajman
Country : United Arab
Emirates
Telephone : (971-6) 7482048
Facsimile : (971-6)
7482048 / 7430534
Email : sapna_gt@emirates.net
Premises
Subject operates from a medium sized suite of offices, a showroom and a
warehouse that are rented and located in the Industrial Area of Ajman.
KEY PRINCIPALS
Name Nationality Position
· Delpat
Singh Indian Managing
Director
· Yousef
Sultan Emirati Director
· Gorov
Garadiya - Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 16th February 2001
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 27157, Ajman
Trade Licence No. : 36797 (Expires
15/02/2009)
Chamber Member No. : 16131
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Yousef
Sultan 51%
· Delpat
Singh 49%
OPERATIONS
Activities: Engaged in the wholesale and retail of readymade garments and textiles.
Import Countries: India and China
Operating Trend: Steady
Subject has a workforce of 22 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 7,500,000 UAE Dh 8,000,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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United Arab Bank
PO Box 2700
Ajman
Tel: (971-6)
7465335
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.
The financial information in the report was confirmed by Mr Delpat Singh, Managing Director.
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%)