MIRA
INFORM REPORT
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Report Date : |
09.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
GHOLAM REZA FAKHRAEI TRADING CO LLC |
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Registered Office : |
Nasser Abdullah Anawhi Building, Al Buteen Street, Al Bateen, PO Box
7936 & 64574, 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 : |
28.04.1997 |
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Com. Reg. No.: |
48908, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of General Foodstuffs and
Beverages. |
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 : GHOLAM REZA FAKHRAEI TRADING CO LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 28th April 1997
Commercial Registration Number : 48908, Dubai
Trade Licence Number : 246244
Chamber Membership Number : 43431
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Total Workforce : 4
Activities : Import and distribution of general foodstuffs and beverages.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
GHOLAM REZA FAKHRAEI TRADING CO LLC
ADDRESS
Registered & Physical Address
Building : Nasser
Abdullah Anawhi Building
Street : Al Buteen
Street
Area : Al Bateen
PO Box : 7936 &
64574
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2259599
Facsimile : (971-4)
2256979
Mobile : (971-50)
Email : a_reza@emirates.net.ae
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
· Gholam Reza Ali
Fakhraei Iranian Managing
Director
· Mohamed Ali
Ebrahimi Iranian Director
· Ali Mokhtar
Ebrahimi Iranian Director
· Fatima Hassan
Abdullah Ali Emirati Director
LEGAL FORM & OWNERS
Date of
Establishment : 28th
April 1997
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 48908, Dubai
Trade Licence No. : 246244 (Expires 27/04/2008)
Chamber Member No. : 43431
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Name of Shareholder (s) Percentage
· Fatima Hassan
Abdullah Ali 51%
· Gholam Reza Ali
Fakhraei 17%
· Ali Mokhtar
Ebrahimi 16%
· Mohamed Ali
Ebrahimi 16%
OPERATIONS
Activities: Engaged in the import and distribution of general foodstuffs and
beverages.
Import Countries: Iran, India and the Far East.
Operating Trend: Steady
Subject has a workforce of 4 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
9,800,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
Mashreq Bank Plc
Deira Branch
PO Box : 1250
Dubai
Tel : (971-4)
2229131 / 2221134
Fax : (971-4) 2233784
·
Bank Saderat Iran
Al Maktoum Street
PO Box : 4182
Dubai
Tel : (971-4)
2221161
Fax : (971-4)
2234460
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.
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%)