MIRA
INFORM REPORT
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Report Date : |
06.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
TRANS DELTA INTERNATIONAL INDUSTRIES LLC |
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Registered Office : |
Industrial Area No. 11, PO Box 23295, 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 : |
13.07.1999 |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Manufacture of Metal and Aluminium Products. |
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 : TRANS DELTA INTERNATIONAL INDUSTRIES LLC
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 13th July 1999
Trade Licence Number : 505777
Chamber Membership Number : 45378
Issued Capital : UAE Dh 350,000
Paid up Capital : UAE Dh 350,000
Total Workforce : 50
Activities : Manufacture of metal and aluminium products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
TRANS DELTA INTERNATIONAL INDUSTRIES LLC
ADDRESS
Registered & Physical
Address
Location : Industrial
Area No. 11
PO Box : 23295
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5340294
Facsimile : (971-6)
5340072
Email : transdel@emirates.net.ae
Premises
Subject operates from a medium sized suite of offices and a factory that
are rented and located in the Industrial Area of Sharjah.
KEY PRINCIPALS
Name Nationality Position
· Saeed
Salim Emirati Managing Director
· Christopher
Thomas British Director
· James
Palalthingal Indian Director
LEGAL FORM & OWNERS
Date of
Establishment : 13th
July 1999
Legal Form : Limited Liability
Company - LLC
Trade Licence No. : 505777
Chamber Member No. : 45378
Issued Capital : UAE Dh 350,000
Paid up Capital : UAE Dh 350,000
Name of Shareholder (s) Percentage
· Saeed
Salim 51%
· Christopher
Thomas 30%
· James
Palalthingal 19%
OPERATIONS
Activities: Engaged in the manufacture of metal and aluminium products.
Import Countries: India and China
Operating Trend: Steady
Subject has a workforce of 50 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 19,500,000 UAE Dh
21,800,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
Emirates Bank International Ltd
Immigration Road
PO Box : 25090
Sharjah
Tel : (971-6)
733300
Fax : (971-6)
730077
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%)