MIRA
INFORM REPORT
|
Report Date : |
18.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
HALANI INTERNATIONAL TRADING CO LLC |
|
|
|
|
Registered Office : |
Jamal
Abdul Nasser Street,
Industrial Area No. 1, PO Box 1199 & 48603,
Sharjah |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
01.06.2003 |
|
|
|
|
Com. Reg. No.: |
45433,
Sharjah |
|
|
|
|
Legal Form : |
Limited Liability
Company - LLC |
|
|
|
|
Line of Business : |
Import and
Distribution of Marine and Ship Spare and Supplies |
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 : HALANI INTERNATIONAL TRADING CO LLC
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 1st June 2003
Commercial Registration Number : 45433, Sharjah
Trade Licence Number : 520643
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 10
Activities : Import and distribution of marine and ship spare and supplies
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME: HALANI
INTERNATIONAL TRADING CO LLC
ADDRESS
Registered & Physical Address
Street : Jamal
Abdul Nasser Street
Area : Industrial Area No. 1
PO Box : 1199
& 48603
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5570050
/ 5593176
Facsimile : (971-6) 5570487
Email : halani77@eim.ae
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
·
Ashok
Behambani Hari Ram Indian Managing Director
·
Khalid
Sultan Mohamed Obaid Al Suwaidi Emirati Director
·
Bagwani
Herndani - Commercial
Manager
·
Pourn
Singh - Operations
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1st
June 2003
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 45433, Sharjah
Trade Licence No. : 520643 (Expires 01/06/2009)
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder (s)
·
Ashok
Behambani Hari Ram
·
Khalid
Sultan Mohamed Obaid Al Suwaidi
AFFILIATED COMPANIES
·
Halani
Sime Darby
Saif Zone
Sharjah
United Arab Emirates
·
Global
Services ME
Saif Zone
Sharjah
United Arab Emirates
OPERATIONS
Activities: Engaged in the import and distribution of marine and ship spare and supplies.
Import
Countries: United Kingdom,
Germany and 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 6,900,000 UAE Dh 7,750,000
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
PO Box : 300
Sharjah
Tel : (971-6) 5356116
Fax : (971-6) 5526473
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.28 |
|
UK Pound |
1 |
Rs.73.43 |
|
Euro |
1 |
Rs.68.22 |
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%)