MIRA
INFORM REPORT
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Report Date : |
03.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
ASIA AND AFRICA GENERAL TRADING LLC |
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Registered Office : |
Dubai Tower,
Suite No. 210, Naser Square, Al Rigga, PO Box 172363, Dubai |
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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 : |
23.07. 2005 |
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Com. Reg. No.: |
75324, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Distributors of Laboratory, Construction, Educational,
Automotive, Agricultural and Pharmaceutical Equipment. |
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 : ASIA AND AFRICA GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 23rd July 2005
Commercial Registration Number : 75324, Dubai
Trade Licence Number : 571646
Chamber Membership Number : 99433
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 10
Activities : Distributors of laboratory, construction, educational, automotive, agricultural and pharmaceutical equipment.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
ASIA AND AFRICA
GENERAL TRADING LLC
ADDRESS
Registered & Physical Address
Building : Dubai Tower, Suite No. 210
Street : Naser Square
Area : Al Rigga
PO Box : 172363
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2287010 / 2287011 / 2858880
Facsimile : (971-4) 2287012
Mobile : (971-50) 5531913
Email : india@asia-africa.org
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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Amit Sethi Madan
Lal Sethi Indian Managing Director
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Sakina Saifee Indian Sales Manager
LEGAL FORM & OWNERS
Date of Establishment : 23rd
July 2005
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 75324, Dubai
Trade Licence No. : 571646
(Expires 22/07/2009)
Chamber Member No. : 99433
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Gazal
Investments Group LLC 51%
Dubai
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Amit Sethi
Madan Lal Sethi 49%
OPERATIONS
Activities: Engaged in the import and distribution of
laboratory, construction, educational, automotive, agricultural and
pharmaceutical equipment.
Import
Countries: India
Operating Trend: Steady
Subject has a
workforce of 10 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 4,250,000 UAE Dh 5,900,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
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National Bank
of Dubai
Baniyas Street
PO Box : 777
Dubai
Tel : (971-4) 2222241
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Established in
2005, subject is involved in the import and distribution of laboratory,
construction, educational, automotive, agricultural and pharmaceutical
equipment.
Local sources report
that the subject’s operating history is clear with payment obligations met in a
generally timely manner. The financial position is satisfactory and the company
is deemed 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.49.90 |
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UK Pound |
1 |
Rs.74.30 |
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Euro |
1 |
Rs.63.42 |
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%)