MIRA
INFORM REPORT
|
Report Date : |
27.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SADAN GENERAL TRADING LLC |
|
|
|
|
Registered Office : |
Habib Bank AG
Zurich Building, 4th Floor, Khalid Bin Waleed Street, Al Barsha,
PO Box 23728, Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
09.08.2003 |
|
|
|
|
Com. Reg. No.: |
63688, Dubai |
|
|
|
|
Legal Form : |
Limited Liability Company - LLC |
|
|
|
|
Line of Business : |
Import and Distribution of Steel and Metal Products |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 150,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : SADAN GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 9th August 2003
Commercial Registration Number : 63688, Dubai
Trade Licence Number : 547797
Chamber Membership Number : 79934
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Total Workforce : 20
Activities : Import and distribution of steel and metal products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
SADAN GENERAL
TRADING LLC
ADDRESS
Registered & Physical Address
Building : Habib Bank AG Zurich Building, 4th
Floor
Street : Khalid Bin Waleed Street
Area : Al Barsha
PO Box : 23728
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3525336
Facsimile : (971-4) 3525633
Email : kazmi@ogsgl.co.ae
Premises
Subject operates from
a medium sized suite of offices that are rented and located in the Central
Business Area of Dubai.
Branch Office
(s)
Location Description
·
Sharjah Rented
warehouse premises
Tel: (971-6) 5751020
Fax: (971-6) 5751019
KEY PRINCIPALS
Name Nationality Position
·
Aftab Al
Hassan Noor Al Hassan British Managing
Director
·
Mohamed Yousuf
Mohamed Al Ali Emirati Director
·
Javed Khan - General
Manager
·
Sulaiman Al M - Administration
Manager
·
S.D.H. Kazmi
- Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 9th
August 2003
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 63688, Dubai
Trade Licence No. : 547797
(Expires 04/08/2009)
Chamber Member No. : 79934
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Name of Shareholder (s) Percentage
·
Mohamed Yousuf
Mohamed Al Ali 51%
·
Aftab Al
Hassan Noor Al Hassan 49%
OPERATIONS
Activities: Engaged in the import and distribution of
steel and metal products.
Import
Countries: Pakistan, India,
United Kingdom and Canada
Operating Trend: Steady
Subject has a
workforce of 20 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
14,700,000 UAE Dh
16,100,000
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 AG
Zurich
Baniyas Road
PO Box 3306
Dubai
Tel: (971-4) 2214535
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.73 |
|
UK Pound |
1 |
Rs.80.57 |
|
Euro |
1 |
Rs.64.29 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)