MIRA
INFORM REPORT
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Report Date : |
08.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
YOUSIF AL RASHEED TRADING LLC |
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Registered Office : |
Industrial Area No. 13, PO Box
38227, Sharjah |
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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 : |
28.02.2001 |
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Com. Reg. No.: |
38758, Sharjah |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of 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$ 500,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : YOUSIF AL RASHEED TRADING LLC
Also Known As : DUBAI ISLAMIC MEAT
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 28th February 2001
Commercial Registration Number : 38758, Sharjah
Trade Licence Number : 508952
Chamber Membership Number : 51139
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 35
Activities : Import and distribution of foodstuff products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 500,000
COMPANY NAME
YOUSIF AL RASHEED TRADING LLC
ALSO KNOWN AS
DUBAI ISLAMIC MEAT
ADDRESS
Registered & Physical Address
Location : Industrial
Area No. 13
PO Box : 38227
Town : Sharjah
Country : United Arab
Emirates
Telephone : (971-6) 5583806
/ 5757022
Facsimile : (971-6)
5583807
Email : yoartrco@eim.ae
Premises
Subject operates from a medium sized suite of offices and a warehouse
that are rented and located in the Industrial Area of Sharjah.
KEY PRINCIPALS
Name Nationality Position
· Yousef
Ahmed Salah Al Rasheed Emirati Managing
Director
· Ayaad
Falah Hassan Iraqi Director
· Alaa
Eddine Sheikh Moustafa - Finance
Manager
· Radwan
Othman - Sales
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 28th
February 2001
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 38758, Sharjah
Trade Licence No. : 508952
Chamber Member No. : 51139
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder (s)
· Yousef
Ahmed Salah Al Rasheed
· Ayaad
Falah Hassan
AFFILIATED COMPANIES
· Universal
Islamic Meat FZE
Jebel Ali Free
Zone
Dubai
United Arab
Emirates
OPERATIONS
Activities: Engaged in the import and distribution of foodstuff products
specialising in meat as well as poultry, seafood and spices.
Import Countries: India, Australia and Europe.
Operating Trend: Steady
Subject has a workforce of 35 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 52,500,000 UAE Dh
58,900,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
Emirates Bank International Ltd
Immigration Road
PO Box : 25090
Sharjah
Tel : (971-6)
733300
Fax : (971-6)
730077
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
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 contained within this report has been
confirmed by Mr Alaa Eddine Sheikh Moustafa – Finance
Manager.
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%)