MIRA
INFORM REPORT
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Report Date : |
18.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL REDHA INTERNATIONAL LLC |
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Registered Office : |
Mohamed Ismail Al
Afghani Building, Al Ras Street, Al Awir Industrial Area, PO Box 7203, 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 : |
25.12.2000 |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of Foodstuff and Beverages |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : AL REDHA INTERNATIONAL LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 25th December 2000
Trade Licence Number : 523229
Chamber Membership Number : 61623
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 11
Activities : Import and distribution of foodstuff and beverages
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
AL REDHA
INTERNATIONAL LLC
ADDRESS
Registered & Physical Address
Building : Mohamed Ismail Al Afghani
Building
Street : Al Ras Street
Area : Al Awir Industrial Area
PO Box : 7203
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3335393 / 2291406 / 2291407
Facsimile : (971-4) 3335394 / 2291408
Email : alredhar@emirates.net.ae
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in the
Industrial Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Kishore
Rajwani Chandi Indian Managing
Director
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Radha Kishore
Rajwani Indian Director
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Musabeh
Mohamed Sultan Obaid Al Suwaidi Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 25th
December 2000
Legal Form :
Limited Liability Company -
LLC
Trade Licence No. : 523229
(Expires 24/12/2009)
Chamber Member No. : 61623
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Musabeh
Mohamed Sultan Obaid Al Suwaidi 51%
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Kishore
Rajwani Chandi 40%
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Radha Kishore
Rajwani 9%
AFFILIATED COMPANIES
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Al Redha
International LLC
PO Box: 28370
Sharjah
Tel: (971-6) 5340440
Fax: (971-6) 5340330
OPERATIONS
Activities: Engaged in the import and distribution of
foodstuff and beverages, including vegetables and fruits, spices and
condiments, Thai products and consumer goods.
Import
Countries: Thailand and
India
International
Suppliers:
·
N.B. Value
Link Co Ltd Thailand
Brand Names: COOL DRINKS
Operating Trend: Steady
Subject has a
workforce of 11 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 7,100,000 UAE Dh 7,300,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Union National
Bank
Baniyas Street
PO Box : 6811
Dubai
Tel : (971-4) 2211188
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Habib Bank Ltd
Murshid Bazaar
PO Box : 888
Dubai
Tel : (971-4) 2221281
Fax : (971-4) 2284631
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction June
2003 November
2005
Credit amount 100,000 150,000
Amount overdue 0 0
Payment terms 60
days 60
days
Payment Method Letters
of Credit Letters of
Credit
Paying record No
Complaints No
Complaints
Currency US
Dollars US
Dollars
GENERAL COMMENTS
Al Redha
International LLC commenced operations in December 2000 and is engaged in the
import and distribution of foodstuff and beverages, specialising in Thai food.
According to local
sources subject is making steady progress in the local business market and
nothing detrimental has been reported regarding 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 deemed to be within subject’s financial means.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.08 |
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UK Pound |
1 |
Rs.71.17 |
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Euro |
1 |
Rs.66.98 |
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%)