MIRA
INFORM REPORT
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Report Date : |
21.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
ADANBRAH TRADING LLC |
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Registered Office : |
Sharjah
Immigration Building, 7th Floor, Office No. 712, Al Qasmiya Area,
PO Box 30375 & 24572, 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 : |
19.02.2003 |
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Com. Reg. No.: |
44393, Sharjah |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Distributors of Electrical Appliances, Sanitary Ware
Products, Novelties and Giftware, Office Supplies and Metal Structures. |
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 : ADANBRAH TRADING LLC
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 19th February 2003
Commercial Registration Number : 44393, Sharjah
Trade Licence Number : 517913
Chamber Membership Number : 57556
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 12
Activities : Distributors of electrical appliances, sanitary ware products, novelties and giftware, office supplies and metal structures.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
ADANBRAH TRADING
LLC
ADDRESS
Registered & Physical Address
Building : Sharjah Immigration Building, 7th
Floor, Office No. 712
Area : Al Qasmiya Area
PO Box : 30375 & 24572
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5732977
Facsimile : (971-6) 5746071
Mobile : (971-50) 6352395
Email : atl1@emirates.net.ae
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Sharjah.
KEY PRINCIPALS
Name Nationality Position
·
Vijay Banu Lal Indian Managing
Director
·
Ali Rashid Al
Suwaidi Emirati Director
·
Syed Rizwan
Haider - General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 19th
February 2003
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 44393,
Sharjah
Trade Licence No. : 517913
Chamber Member No. : 57556
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder (s) Percentage
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Ali Rashid Al
Suwaidi 51%
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Vijay Banu Lal 49%
OPERATIONS
Activities: Engaged in the import and distribution of
electrical appliances, household items, sanitary ware products, novelties and
giftware, as well as office supplies and various metal structures.
Import
Countries: Europe and the
Far East.
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 4,200,000 UAE Dh 4,720,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Habib Bank Ltd
Jamal Abdul Nasser Square
PO Box : 3306
Deira
Dubai
Tel : (971-4) 2145355 / 3232212
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.43.58 |
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UK Pound |
1 |
Rs.81.43 |
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Euro |
1 |
Rs.64.52 |
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%)