MIRA
INFORM REPORT
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Report Date : |
09.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHELL OASIS MOBILE PHONES LLC |
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Registered Office : |
Naif Tower, Office No. 204, Nasser Square, Deira, PO Box 93847, 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 : |
14.10.2004 |
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Com. Reg. No.: |
104370, Dubai |
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Legal Form : |
Limited Liability
Company – LLC |
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Line of Business : |
Import,
Distribution and Retail of Mobile Phones and Accessories, Audio Visual and
Recording Equipment, Photographic Equipment and Computer Requisites. |
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 : SHELL OASIS MOBILE
PHONES LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 14th
October 2004
Commercial
Registration Number : 104370,
Dubai
Trade Licence Number : 562262
Chamber Membership
Number : 91716
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 11
Activities :
Import, distribution and retail of mobile phones and accessories, audio
visual and recording equipment, photographic
equipment and computer
requisites.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 200,000
COMPANY NAME
SHELL OASIS MOBILE PHONES LLC
ADDRESS
Registered & Physical Address
Building : Naif Tower,
Office No. 204
Street : Nasser
Square
Area : Deira
PO Box : 93847
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2726188
Facsimile : (971-4)
2726189
Email : saji_viswambran@yahoo.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
· Palalkkappily
Mohamed Jamal Anwar Indian Managing
Director
· Abdul Jalil
Kizhisseril Mamu Indian Director
· Mrs Zainab Rashid Emirati Director
· Saji
Vismbara - Commercial
Manager
· Suresh
Gopi - Sales
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 14th
October 2004
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 104370, Dubai
Trade Licence No. : 562262 (Expires 11/10/2008)
Chamber Member No. : 91716
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Mrs Zainab Rashid 51%
· Palalkkappily
Mohamed Jamal Anwar 25%
· Abdul Jalil
Kizhisseril Mamu 24%
OPERATIONS
Activities: Engaged in the import, distribution and retail of mobile phones and
accessories, audio visual and recording
equipment, photographic equipment and computer requisites.
Import Countries: United Kingdom, Finland, India, and the United
States of America.
Operating Trend: Steady
Subject has a workforce of 11 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 10,100,000 UAE Dh
11,000,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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Dubai Islamic Bank
PO Box : 1080
Dubai
Tel : (971-4) 2953000
Fax : (971-4) 2954111
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 data contained within the report has been confirmed by Mr Suresh Gopi – Sales 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%)