MIRA
INFORM REPORT
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Report Date : |
21.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
ETERNITY MARBLE & GRANITE TRADING LLC |
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Registered Office : |
Street No. 14,
Industrial Area No. 13, PO Box 150103,
Sharjah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
27.06.2007 |
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Com. Reg. No.: |
552833, Sharjah |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Distributors of Marble and Granite. |
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$ 75,000 |
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Status : |
New and Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ETERNITY MARBLE & GRANITE TRADING LLC
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 27th June 2007
Commercial Registration Number : 552833, Sharjah
Trade Licence Number : 552833
Chamber Membership Number : 78832
Issued Capital : UAE Dh 250,000
Paid up Capital : UAE Dh 250,000
Total Workforce : 8
Activities : Distributors of marble and granite.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 75,000
COMPANY NAME
ETERNITY MARBLE
& GRANITE TRADING LLC
ADDRESS
Registered & Physical Address
Street : Street No. 14
Area : Industrial Area No. 13
PO Box : 150103
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5354501
Facsimile : (971-6) 5354502
Mobile : (971-50) 2471723
Email : info@eternitymarble.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Industrial Area of Sharjah.
KEY PRINCIPALS
Name Nationality Position
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Ali
Abdul Wahab Mohamed Emirati Managing Director
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Badrui
Hasnain Dutch Director
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Rashid
Al Hasan - General
Manager
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Mohamed
Salman - Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 27th
June 2007
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 552833,
Sharjah
Trade Licence No. : 552833
(Expires 26th May 2009)
Chamber Member No. : 78832
Issued Capital : UAE Dh 250,000
Paid up Capital : UAE Dh 250,000
Name of Shareholder (s) Percentage
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Ali
Abdul Wahab Mohamed 51%
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Badrui
Hasnain 49%
AFFILIATED COMPANIES
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Sam Trading
FZE
RAK Free Zone
Ras Al Khaimah
OPERATIONS
Activities: Engaged in the import and distribution of
marble and granite.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 8 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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HSBC Bank
Middle East
PO Box : 25
Sharjah
Tel : (971-6) 5537222
Fax : (971-6) 5537880
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Investigations
undertaken in Sharjah 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.43.58 |
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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%)