MIRA INFORM REPORT
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Report Date : |
06.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
GLOTRA TRADING LLC |
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Registered Office : |
Al Garhoud Centre , Suite No. 201, PO Box 6329, 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 : |
14.08.1982 |
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Com. Reg. No.: |
50251, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of Building and Construction Materials |
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 : GLOTRA TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
14th August 1982
Commercial Registration Number :
50251, Dubai
Trade Licence Number :
204270
Chamber Membership Number :
9489
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
20
Activities :
Import and distribution of building and construction materials
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Recommended Credit Limit :
US$ 200,000
COMPANY NAME
GLOTRA TRADING LLC
ADDRESS
Registered &
Physical Address
Location : Al Garhoud
Centre , Suite No. 201
PO Box : 6329
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2844255
Facsimile : (971-4)
2862223
Email : mansi@emirates.net.ae
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
Branch Office (s)
Location Description
· Airport Road Rented
showroom & warehouse
Umm Ramool
Dubai
KEY PRINCIPALS
Name Nationality Position
· Dinesh Dewan Indian Managing Director
· Madhu Sudanlal
Dewan Indian Director
· Mohamed Abdullah
Ali Emirati Director
LEGAL FORM & OWNERS
Date of
Establishment : 14th
August 1982
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 50251, Dubai
Trade Licence No. : 204270 (Expires 19/07/2009)
Chamber Member No. : 9489
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Mohamed Abdullah
Ali 51%
· Dinesh Dewan 30%
· Madhu Sudanlal
Dewan 19%
OPERATIONS
Activities: Engaged in the import and distribution of building and construction
materials.
Import Countries: China and India
Operating Trend: Steady
Subject has a workforce of 20 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 14,100,000 UAE Dh
15,250,000
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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Commercial Bank of Dubai
Banyas Square
PO Box : 2668
Dubai
Tel : (971-4) 2289000
Fax : (971-4) 2218262
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.00 |
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UK Pound |
1 |
Rs.82.14 |
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Euro |
1 |
Rs.65.09 |
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%)