MIRA
INFORM REPORT
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Report Date : |
18.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
HALYA GENERAL TRADING CO LLC |
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Registered Office : |
Musalla Tower,
Khalid Bin Al Waleed Street, Wifi Zone WB8, Al Rifaa, PO Box 8052, 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 : |
14.03.1999 |
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Com. Reg. No.: |
75435, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of General Merchandise including
Foodstuff |
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 : HALYA GENERAL TRADING CO LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 14th March 1999
Commercial Registration Number : 75435, Dubai
Trade Licence Number : 510685
Chamber Membership Number : 53513
Issued Capital : UAE Dh 50,000
Paid up Capital : UAE Dh 50,000
Total Workforce : 6
Activities : Import and distribution of general merchandise including foodstuff
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
HALYA GENERAL
TRADING CO LLC
ADDRESS
Registered & Physical Address
Building : Musalla Tower
Street : Khalid Bin Al Waleed Street
Area : Wifi Zone WB8, Al Rifaa
PO Box : 8052
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3517789
Facsimile : (971-4) 3517794
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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Prateep Kumar
Shreekant Indian Managing Director
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Adel Ibrahim
Mohamed Al Tamemi Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 14th
March 1999
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 75435, Dubai
Trade Licence No. : 510685
(Expires 05/03/2009)
Chamber Member No. : 53513
Issued Capital : UAE Dh 50,000
Paid up Capital : UAE Dh 50,000
Name of Shareholder (s) Percentage
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Adel Ibrahim
Mohamed Al Tamemi 51%
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Prateep Kumar
Shreekant 49%
OPERATIONS
Activities: Engaged in the import and distribution of
general merchandise including foodstuff.
Import
Countries: Thailand and
India
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 7,380,000 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
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Mashreq Bank
Plc
Deira Branch
PO Box : 1250
Dubai
Tel : (971-4) 2229131 / 2221134
Fax : (971-4) 2233784
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.28 |
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UK Pound |
1 |
Rs.73.43 |
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Euro |
1 |
Rs.68.22 |
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%)