MIRA
INFORM REPORT
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Report Date : |
13.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
DISC VISION LLC |
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Registered Office : |
Makiya Ismail Al
Baqali Building, Al Mussalla Street, Al Souq Al Kabir, PO Box 31108 &
7808, 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 : |
03.01. 1999 |
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Com. Reg. No.: |
52236, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Wholesale and Retail of Audio-Visual Recording Equipment,
Blank Cassettes, Photographic Equipment, Satellite Receiving Equipment,
Computer 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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : DISC VISION LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 3rd January 1999
Commercial Registration Number : 52236, Dubai
Trade Licence Number : 509576
Chamber Membership Number : 44447
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 12
Activities : Wholesale and retail of audio-visual recording equipment, blank cassettes, photographic equipment, satellite receiving equipment, computer equipment
and electrical appliances
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
DISC VISION LLC
ADDRESS
Registered & Physical Address
Building : Makiya Ismail Al Baqali Building
Street : Al Mussalla Street
Area : Al Souq Al Kabir
PO Box : 31108 & 7808
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2995050 / 2996121
Facsimile : (971-4) 2994610 / 2543530
Email : sd@pod.co.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
·
Yousuf Al
Sayed Mohamed Ibrahim Al Hashimi Emirati Managing Director
·
Ronny Johnny
Smith Swiss Director
·
Subhash Dudani
Thanwardas Indian Director
LEGAL FORM & OWNERS
Date of Establishment : 3rd
January 1999
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 52236, Dubai
Trade Licence No. : 509576
(Expires 26/12/2008)
Chamber Member No. : 44447
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
·
Yousuf Al
Sayed Mohamed Ibrahim Al Hashimi 51%
·
Ronny Johnny
Smith 25%
·
Subhash Dudani
Thanwardas 24%
OPERATIONS
Activities: Engaged in the wholesale and retail of
audio-visual recording equipment, blank cassettes, photographic equipment,
satellite receiving equipment, computer equipment and electrical appliances.
Import
Countries: India, China and
Japan.
Operating Trend: Steady
Subject has a workforce
of 12 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 9,200,000 UAE Dh 9,750,000
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
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.67 |
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UK Pound |
1 |
Rs.80.92 |
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Euro |
1 |
Rs.63.71 |
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%)