MIRA
INFORM REPORT
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Report Date : |
18.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
UNIQUE CHOICE GENERAL TRADING LLC |
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Registered Office : |
Al Reem Tower, 15th
Floor, Al Maktoum Road, Deira, PO Box 14263 & 183054, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
16.07.2007 |
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Com. Reg. No.: |
1012467, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Export of General Merchandise |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 50,000 |
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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : UNIQUE CHOICE GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 16th July 2007
Commercial Registration Number : 1012467, Dubai
Trade Licence Number : 597369
Chamber Membership Number : 121605
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 5
Activities : Import and export of general merchandise
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 50,000
COMPANY NAME
UNIQUE CHOICE
GENERAL TRADING LLC
ADDRESS
Registered & Physical Address
Building : Al Reem Tower, 15th
Floor
Street : Al Maktoum Road
Area : Deira
PO Box : 14263 & 183054
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3318585 / 2341174
Facsimile : (971-4) 3323929 / 2341175
Email : info@uniquechoiceco.com
Premises
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
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Davood Ahmed
Hezavehnegad Iranian Managing Director
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Sayed Alireza
Sayed Mohamed Hussain Athari Iranian Director
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Hussain Abdul
Rahda Mohamed Al Asmawi Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 16th
July 2007
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1012467,
Dubai
Trade Licence No. : 597369
(Expires 27/06/2009)
Chamber Member No. : 121605
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Hussain Abdul
Rahda Mohamed Al Asmawi 51%
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Davood Ahmed
Hezavehnegad 25%
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Sayed Alireza Sayed
Mohamed Hussain Athari 24%
OPERATIONS
Activities: Engaged in the import and export of general
merchandise, specialising in foodstuff and commodities,
automobiles, building
materials, scrap metals and petroleum products.
Import Countries: India and Europe
Subject has a
workforce of 5 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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Commercial
Bank of Dubai
Mankhool Street
PO Box : 2668
Dubai
Tel : (971-4) 3523355
Fax : (971-4) 3527655 / 2524796
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Investigations
undertaken in Dubai did not reveal any sign of payment defaults or delays
during initial trading stages, and subject is believed to meet its payment
obligations in a timely manner, nevertheless, and in view of the company’s
infancy and the lack of a more consistent payment and financial record, a
measure of caution is advisable and a close monitoring of subject’s business
development is recommended.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.23 |
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UK Pound |
1 |
Rs.80.89 |
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Euro |
1 |
Rs.63.80 |
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%)