MIRA
INFORM REPORT
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Report Date : |
27.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
ATIQ AL DHAHERI & CO LLC |
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Registered Office : |
Saeed Daen Al
Mansouri Building, Mussafah,
Plot No. M9 126, PO Box 44719, Abu Dhabi |
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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 : |
25.02.1992 |
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Com. Reg. No.: |
22026, Abu Dhabi |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Wholesale and Retail of Pipes,
Pipe Fittings, Valves and Flanges |
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 : ATIQ AL DHAHERI & CO LLC
Country of Origin : Abu Dhabi, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 25th February 1992
Commercial Registration Number : 22026, Abu Dhabi
Trade Licence Number : 37262
Chamber Membership Number : 14327
Issued Capital : UAE Dh 315,000
Paid up Capital : UAE Dh 315,000
Total Workforce : 6
Activities : Wholesale and retail of pipes, pipe fittings, valves and flanges
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
ATIQ AL DHAHERI
& CO LLC
ADDRESS
Registered & Physical Address
Building : Saeed Daen Al Mansouri Building
Area : Mussafah, Plot No. M9 126
PO Box : 44719
Town : Abu Dhabi
Country : United Arab Emirates
Telephone : (971-2) 5540676
Facsimile : (971-2) 5543740
Email : aadtra@emirates.net.ae
Premises
Subject operates from
a small suite of offices and a showroom that are rented and located in the
Industrial Area of Abu Dhabi.
KEY PRINCIPALS
Name Nationality Position
·
Atiq
Ibrahim Saeed Abdullah Al Dhaheri Emirati Managing
Director
·
Mahendra
Arsa Pota
Indian Director
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Jansham
Arsa Pota Indian Director
LEGAL FORM & OWNERS
Date of Establishment : 25th
February 1992
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 22026, Abu
Dhabi
Trade Licence No. : 37262
Chamber Member No. : 14327
Issued Capital : UAE Dh 315,000
Paid up Capital : UAE Dh 315,000
Name of Shareholder (s)
·
Atiq
Ibrahim Saeed Abdullah Al Dhaheri
·
Mahendra
Arsa Pota
·
Jansham
Arsa Pota
OPERATIONS
Activities: Engaged in the wholesale and retail of pipes, pipe fittings, valves and flanges.
Import
Countries: China, India,
United Kingdom and Germany
Operating Trend: Steady
Subject has a
workforce of 6 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 6,250,000 UAE Dh 7,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Jansham Arsa Pota,
Director.
BANKERS
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Abu
Dhabi Commercial Bank
Mussafah
PO Box 9331
Abu Dhabi
Tel: (971-2) 5544272
Fax: (971-2) 5544273
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
During the course
of this investigation nothing detrimental was uncovered regarding the manner in
which payment obligations are fulfilled. The operating history is clear and the
financial situation is satisfactory. As such we are of the opinion that the
subject is 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.43.73 |
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UK Pound |
1 |
Rs.80.31 |
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Euro |
1 |
Rs.64.61 |
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%)