MIRA
INFORM REPORT
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Report Date : |
23.12.2008 |
IDENTIFICATION DETAILS
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Name : |
AL QUDRA GENERAL TRADING CO LLC |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
28/.02. 2000 |
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Com. Reg. No.: |
54127, |
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Legal Form : |
Limited Liability
Company – LLC |
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Line of Business : |
Import and
Distribution of Computer
Equipment, Communication and Media Products, as well as Precious Stones and Loose Diamonds. |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL QUDRA GENERAL TRADING CO LLC
Country of Origin :
Legal Form :
Limited Liability Company - LLC
Registration Date : 28th
February 2000
Commercial
Registration Number : 54127,
Trade Licence
Number : 516847
Chamber Membership
Number : 58231
Issued Capital : UAE Dh
3,000,000
Paid up Capital : UAE Dh
3,000,000
Total Workforce : 8
Activities :
Import and distribution of computer equipment, communication and media Products, as well as precious stones and loose diamonds.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL QUDRA GENERAL
TRADING CO LLC
ADDRESS
Registered & Physical Address
Building :
Street :
Area : Al Bateen, Deira
PO Box : 13395
Town :
Country :
Telephone : (971-4) 2290299 / 2353096
Facsimile : (971-4) 2290199 / 2353098
Email : quadra@emirates.net.ae
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Branch Office
(s)
Location Description
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PO Box:
42612 Rented
sales office
Tel: (971-2) 6816070
Fax: (971-2) 6813134
KEY PRINCIPALS
Name Nationality Position
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Mohamed
Ghulam Hussain Abbasi Iranian Managing Director
· Ali Reza Ghulam
Hussain Abbasi Iranian Director
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Abdullah
Redhwan Ibrahim Al Khalsan Emirati Director
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Ali
Bangash - Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 28th
February 2000
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 54127,
Trade Licence No. : 516847 (Expires
25/02/2009)
Chamber Member No. : 58231
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Name of Shareholder (s) Percentage
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Abdullah
Redhwan Ibrahim Al Khalsan 51%
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Mohamed
Ghulam Hussain Abbasi 25%
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Ali Reza
Ghulam Hussain Abbasi 24%
OPERATIONS
Activities: The company operates with a general trade
licence, however they specialise in the import and distribution of computer equipment, communication and media
products, including LCD, net station, digital media player, digital frames as
well as MP3 and MP4.
Subject also deals
in precious stones and loose diamonds.
Import
Countries: Europe and the
International
Suppliers:
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Tune5
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Net
PC
Operating Trend: Steady
Subject has a
workforce of 8 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 4,220,000 UAE Dh 7,100,000
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
PO Box : 777
Tel
: (971-4) 2222241
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
2000, subject is owned and managed by Mr Mohamed Ghulam Hussain Abbasi and Mr
Ali Reza Ghulam Hussain Abbasi, who are Iranian nationals operating in
Local sources
report that subject meets its payments in a timely manner and 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%)