MIRA
INFORM REPORT
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Report Date : |
23.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
SAI GENERAL TRADING LLC |
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Registered Office : |
Fardan Bin Ali Al
Fardan Building, Al Souq Al Kabir Street, Al Souq Al Kabir, Deira, PO Box 44936 & 28371, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
30.03. 1998 |
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Com. Reg. No.: |
52671, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Wholesaler and Retailer of General Merchandise, including
Textiles, Leather Goods and Travel 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 : SAI GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 30th March 1998
Commercial Registration Number : 52671, Dubai
Trade Licence Number : 504696
Chamber Membership Number : 48870
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 6
Activities : Wholesale and retail of general merchandise, including textiles, leather
goods and travel requisites.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
SAI GENERAL TRADING
LLC
ADDRESS
Registered & Physical Address
Building : Fardan Bin Ali Al Fardan Building
Street : Al Souq Al Kabir Street
Area : Al Souq Al Kabir, Deira
PO Box : 44936 & 28371
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3535301
Facsimile : (971-4) 3535308
Email : ventex@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
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Jayant Kumar
Varyani Indian Managing
Director
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Mohamed Matar
Mohamed Al Marri Emirati Director
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Prakash
Pankaj - Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 30th
March 1998
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 52671, Dubai
Trade Licence No. : 504696
Chamber Member No. : 48870
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Mohamed Matar
Mohamed Al Marri 51%
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Jayant Kumar
Varyani 49%
OPERATIONS
Activities: Engaged in the wholesale and retail of
general merchandise, including textiles, leather goods and travel
requisites.
Import
Countries: United Kingdom
and Germany.
Operating Trend: Steady
Subject has a
workforce of 6 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/03/06: Year
Ending 31/03/07:
Total Sales UAE Dh 9,100,000 UAE Dh 9,800,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Habib Bank AG
Zurich
Baniyas Road
PO Box 3306
Dubai
Tel: (971-4) 2214535
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 Mr Prakash Pankaj – 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%)