MIRA
INFORM REPORT
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Report Date : |
17.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
SARA TRIDENT EMIRATES LLC |
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Registered Office : |
Radisson Sas Office Plaza, Suite 504, Beniyas Road, Al Rigga, Deira,
PO Box 6872, 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 : |
06.04.2003 |
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Com. Reg. No.: |
62272, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of Consumer and Household Goods |
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$ 750,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : SARA TRIDENT EMIRATES LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 6th April 2003
Commercial Registration Number : 62272, Dubai
Trade Licence Number : 543755
Chamber Membership Number : 76750
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Total Workforce : 170
Activities : Import and distribution of consumer and household goods
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 750,000
COMPANY NAME
SARA TRIDENT EMIRATES LLC
ADDRESS
Registered & Physical Address
Building : Radisson Sas
Office Plaza, Suite 504
Street : Beniyas Road
Area : Al Rigga,
Deira
PO Box : 6872
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2211425
Facsimile : (971-4)
2237285
Mobile : (971-50)
Email : sara2@emirates.net.ae
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
· Abdullah Abdul
Rahim Abdul Razzaq Al Fahim Emirati Managing
Director
· Mohamed Abdul
Rahim Abdul Razaq Al Fahim Emirati Director
· Hussain Ali
Abdullah Al Annzi Saudi Director
· Hussain Essa Al
Mulla Saudi Director
· Yaqooub Yousuf Al
Sharif Al Hashemi Emirati Chief
Executive Officer
· David
Lancaster - General
Manager
· Dr Majid Abdullah - Commercial
Manager
· T.M.
Hamza - Finance
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 6th
April 2003
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 62272, Dubai
Trade Licence No. : 543755
Chamber Member No. : 76750
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Name of Shareholder (s) Percentage
· Sara Trident LLC 34.0%
Dubai
United
Arab Emirates
· Abdullah Abdul
Rahim Abdul Razzaq Al Fahim 23.8%
· Mohamed Abdul
Rahim Abdul Razaq Al Fahim 10.2%
· Abdul Latif Ahmad
Al Fozan & Sons 20.0%
Saudi Arabia
· Hussain Ali
Abdullah Al Annzi 4.0%
· Hussain Essa Al
Mulla 8.0%
OPERATIONS
Activities: Engaged in the import and distribution of consumer and household goods
including skin, hair and oral care products, fragrances and deodorants, soaps
and shower gel, toiletries, air fresheners and pet care products.
Import Countries: Europe and Asia
Operating Trend: Steady
Subject has a workforce of 170 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 66,000,000 UAE Dh
70,000,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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National Bank of Dubai (NBD)
Baniyas Street
PO Box :
777
Dubai
Tel :
(971-4) 2222241
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
During the course of this investigation nothing detrimental was
uncovered regarding the manner in which payment obligations are fulfilled. The
operating history is clear and the financial situation is satisfactory. As such
we are of the opinion that the subject is a fair trade risk and the above
credit figure is within subject’s financial means.
The financial information contained within this report has been verified
by Dr Majid Abdullah – Commercial 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%)