MIRA
INFORM REPORT
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Report Date : |
23.12.2008 |
IDENTIFICATION DETAILS
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Name : |
ABU MANSOUR FOODSTUFF & VEGETABLES COMPANY LLC |
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Registered Office : |
Municipal
Building, Almina Zayed Road, Meena
Wholesale Market, PO Box 32149, Abu Dhabi |
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Country : |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
08.05.1984 |
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Com. Reg. No.: |
10956, |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of Fresh
Fruit and Vegetable |
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 : ABU MANSOUR FOODSTUFF & VEGETABLES COMPANY LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 8th May 1984
Commercial Registration Number : 10956,
Trade Licence Number : 15295
Chamber Membership Number : 4505
Issued Capital : UAE Dh 400,000
Paid up Capital : UAE Dh 400,000
Total Workforce : 26
Activities : Import and distribution of fresh fruit and vegetable.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
ABU
MANSOUR FOODSTUFF & VEGETABLES COMPANY LLC
ADDRESS
Registered & Physical Address
Building :
Street :
Area : Meena
Wholesale Market
PO Box : 32149
Town :
Country :
Telephone : (971-2) 6731455
Facsimile : (971-2) 6731475
Email : ame_auh@emirates.net.ae
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Abu Dhabi.
KEY PRINCIPALS
Name Nationality Position
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Abdul Salam Ali Konji Indian Managing Director
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Jonaid Abdul Salam Ali Konji Indian Director
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Mohamed Al Masleh Al Harbi Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 8th
May 1984
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 10956,
Trade Licence No. : 15295
Chamber Member No. : 4505
Issued Capital : UAE Dh 400,000
Paid up Capital : UAE Dh 400,000
Name of Shareholder (s)
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Abdul Salam Ali Konji
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Jonaid Abdul Salam Ali Konji
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Mohamed Al Masleh Al Harbi
AFFILIATED COMPANIES
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Al Awal Trading Est
Tel: (971-4) 3203881
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Shatora Trading Co LLC
OPERATIONS
Activities: Engaged in the
import and distribution of fresh fruit and vegetables.
Import
Countries:
Operating Trend: Steady
Subject has a
workforce of 26 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Sales UAE Dh 5,590,000 UAE Dh 6,000,000
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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Bank of
PO Box: 2303
Tel: (971-2) 6330244
Fax: (971-2) 6335293
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Abu
Mansour Foodstuff & Vegetables Company LLC enjoys a good reputation for the
quality of its products and is run in a professional manner.
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.48.99 |
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1 |
Rs.72.49 |
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Euro |
1 |
Rs.68.44 |
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%)