MIRA
INFORM REPORT
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Report Date : |
04.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
TRANS HORIZON GENERAL TRADING LLC |
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Registered Office : |
Abdullah Al Fahd Building,
Al Qusais Street, Al Qusais Industrial Area, PO Box 231330, 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 : |
14.08.2006 |
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Com. Reg. No.: |
998433, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of Readymade Garments as well as
Electrical Equipment |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : TRANS HORIZON GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 14th August 2006
Commercial Registration Number : 998433, Dubai
Trade Licence Number : 584834
Chamber Membership Number : 110145
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 6
Activities : Import and distribution of readymade garments as well as electrical
equipment
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Credit Rating : US$ 100,000
COMPANY NAME
TRANS HORIZON
GENERAL TRADING LLC
ADDRESS
Registered & Physical Address
Building : Abdullah Al Fahd Building
Street : Al Qusais Street
Area : Al Qusais Industrial Area
PO Box : 231330
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2630047 / 2630072
Facsimile : (971-4) 2630048
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Industrial Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
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Sayed Slman
Masuod Sayed Abdulkalam Bangladeshi Managing Director
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Hithm Mohamed
Saeed Mohamed Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 14th
August 2006
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 998433, Dubai
Trade Licence No. : 584834
(Expires 13/08/2008)
Chamber Member No. : 110145
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Hithm Mohamed
Saeed Mohamed 51%
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Sayed Slman
Masuod Sayed Abdulkalam 49%
OPERATIONS
Activities: Engaged in the import and distribution of
readymade garments as well as electrical equipment.
Import
Countries: India
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 31/12/07:
Total Sales UAE
Dh 6,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
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
Trans Horizon
General Trading LLC is a relatively new business with operations commencing in August
2006. It is engaged in the import and distribution of readymade garments as
well as electrical equipment.
According to local sources subject is making steady progress
in the local business market and nothing detrimental has been reported
regarding the manner in which payments are fulfilled. As such the company is
considered to be a fair trade risk.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.40 |
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UK Pound |
1 |
Rs.83.57 |
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Euro |
1 |
Rs.66.02 |
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%)