MIRA
INFORM REPORT
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Report Date : |
10.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
AREEBAH GENERAL TRADING LLC |
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Registered Office : |
Shop No. 4, Zamrat Almurar, Deira, PO Box 32348, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
25.04.2007 |
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Com. Reg. No.: |
1008599, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of General Merchandise |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 75,000 |
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Status : |
New and Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AREEBAH GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 25th April 2007
Commercial Registration Number : 1008599, Dubai
Trade Licence Number : 594167
Chamber Membership Number : 118067
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 3
Activities : Import and distribution of general merchandise
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 75,000
COMPANY NAME
AREEBAH GENERAL TRADING LLC
ADDRESS
Registered & Physical Address
Location : Shop No. 4,
Zamrat Almurar, Deira
PO Box : 32348
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2354453
Facsimile : (971-4)
2354533
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
· Mohamed Mansoor
Ansari Indian Managing
Director
· Mohamed Ansar
Ansari Indian Director
LEGAL FORM & OWNERS
Date of
Establishment : 25th
April 2007
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 1008599, Dubai
Trade Licence No. : 594167 (Expires 16/04/2008)
Chamber Member No. : 118067
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Mohamed Mansoor
Ansari 17%
· Mohamed Ansar
Ansari 16%
· Businessmen &
private investors 67%
OPERATIONS
Activities: Engaged in the import and distribution of general merchandise including
mobile phones, pashmina shawls and stoles, home furnishing products, carpets, and
foodstuff such as rice, sugar and beverages
Import Countries: India
Subject has a workforce of 3 employees.
FINANCIAL DATA
Subject is a newly formed business and as a result financial information
is not currently available.
BANKERS
·
Emirates Bank International Ltd
Beniyas Road
Deira
PO Box : 2923
Dubai
Tel : (971-4)
2256256 / 2256900
Fax : (971-4)
2268005 / 2267718
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Areebah General Trading LLC is a newly established business with
operations commencing in April 2007. It is engaged in the import and
distribution of general merchandise.
According to local sources subject is making steady progress in the
local business market and nothing detrimental has been reported regarding the
manner in which payments are fulfilled. As such the company is considered to be
a fair trade risk, however a measure of caution would be prudent given the lack
of financial and payment due to the short operating history.
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%)