MIRA
INFORM REPORT
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Report Date : |
18.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL ASFARAN STEEL MASONERY & ALUMINIUM SMELTING LLC |
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Registered Office : |
Industrial Area No. 10, PO Box 3389
& 2928, 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 : |
05.06.2001 |
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Com. Reg. No.: |
38957, Sharjah |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Metal Melting and Purification. |
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 : AL ASFARAN STEEL MASONERY & ALUMINIUM SMELTING LLC
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 5th June 2001
Commercial Registration Number : 38957, Sharjah
Trade Licence Number : 509698
Chamber Membership Number : 51427
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 15
Activities : Metal melting and purification.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
AL ASFARAN STEEL MASONERY & ALUMINIUM SMELTING LLC
ADDRESS
Registered & Physical Address
Location : Industrial
Area No. 10
PO Box : 3389 & 2928
Town : Sharjah
Country : United Arab
Emirates
Telephone : (971-6) 5347477
Facsimile : (971-6)
5347473
Email : al_asfaran@emirates.net.ae
Premises
Subject operates from a small suite of offices and metal smelter that
are owned and located in the Industrial Area of Sharjah.
KEY PRINCIPALS
Name Nationality Position
· Sandeep
Arora Kawal Arora Indian Managing
Director
· Aida
Ali W.O Mohamed Emirati Director
· Aditya
Arora - General
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 5th
June 2001
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 38957, Sharjah
Trade Licence No. : 509698 (Expires
03/06/2009)
Chamber Member No. : 51427
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder (s)
· Sandeep
Arora Kawal Arora
· Aida
Ali W.O Mohamed
OPERATIONS
Activities: Engaged in metal melting and purification.
Import Countries: China, Korea and Europe
Operating Trend: Steady
Subject has a workforce of 15 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 8,700,000 UAE Dh
10,000,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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National Bank of Sharjah
Al Boorj Avenue
PO Box :
4
Sharjah
Tel :
(971-6) 5547747
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 verified
by Aditya Arora – General 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%)