MIRA
INFORM REPORT
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Report Date : |
29.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
UNITED NATIONAL TRADING CO LLC |
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Registered Office : |
Omair Bin
Abdullah Al Falasi Building, Al Sabkha Street, Al Bateen, PO Box 555, 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 : |
17.10. 1972 |
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Com. Reg. No.: |
60833, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Wholesaler and Retailer of Building Hardware and Tools,
Workshop Equipment, Building and Construction Materials, Paints and
Varnishes, and Construction Chemicals. |
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 : UNITED NATIONAL TRADING CO LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 17th October 1972
Commercial Registration Number : 60833, Dubai
Trade Licence Number : 200379
Chamber Membership Number : 989
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 7
Activities : Wholesale and retail of building hardware and tools, workshop equipment, building and construction materials, paints and varnishes, and construction chemicals.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
UNITED NATIONAL
TRADING CO LLC
ADDRESS
Registered & Physical Address
Building : Omair Bin Abdullah Al Falasi
Building
Street : Al Sabkha Street
Area : Al Bateen
PO Box : 555
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2221331
Facsimile : (971-4) 2281964
Mobile : (971-50)
Email : national@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
·
Essa Rashid
Hamad Ali Al Shamsi Emirati Managing
Director
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Nawaz
Ramzan - General
Manager
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M.
Parasad - Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 17th
October 1972
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 60833, Dubai
Trade Licence No. : 200379
Chamber Member No. : 989
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Essa Rashid
Hamad Ali Al Shamsi 99%
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Mrs Fatima
Rashid Al Matrooshi * 1%
* Mrs Fatima Rashid Al Matrooshi is the wife
of Mr Essa Rashid Hamad Ali Al Shamsi.
OPERATIONS
Activities: Engaged in the wholesale and retail of
building hardware and tools, workshop equipment, building and
construction materials, paints
and varnishes, and construction chemicals.
Import
Countries: United Kingdom,
Belgium, Japan and India.
Operating Trend: Steady
Subject has a
workforce of 7 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:
Total Sales UAE Dh 9,750,000 UAE Dh 10,200,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr Nawaz Ramzan – General
Manager.
BANKERS
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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
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%)