MIRA
INFORM REPORT
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Report Date : |
08.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
BEYROHA GENERAL TRADING LLC |
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Registered Office : |
New Gold Souk, 6th Floor, Suite 168, Al Khor Street, Al
Ras, PO Box 5043, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.08.2007 |
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Date of Incorporation : |
02.02.1982 |
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Com. Reg. No.: |
51899, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Importer and Distributors of Jewellery, Precious Stones and Gold |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : BEYROHA GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 2nd February 1982
Commercial Registration Number : 51899, Dubai
Trade Licence Number : 200547
Membership Number : 8817
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Total Workforce : 35
Line of Business : Distributors of jewellery, precious stones and gold.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
BEYROHA GENERAL TRADING LLC
ADDRESS
Registered & Physical Address
Building : New Gold
Souk, 6th Floor, Suite 168
Street : Al Khor
Street
Area : Al Ras
PO Box : 5043
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2290290
Facsimile : (971-4)
2290294
Email : diamant@emirates.net.ae
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
· Sadiq Abdul Qader
Najmuddin Indian Managing Director
· Essa Abdullah
Ahmed Al Ghurair Emirati Director
· Najmudin Sathak - General
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 2nd
February 1982
Legal Form : Sharikat Thet
Massouliya Mahdoudeh (Limited Liability Company - LLC)
Commercial Reg.
No. : 51899, Dubai
Trade Licence No. : 200547 (Expires 18th October
2008)
Membership No. : 8817
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Name of Shareholder (s) Percentage
· Essa Abdullah
Ahmed Al Ghurair 51%
· Sadiq Abdul Qader Najmuddin 49%
Note to the Legal Form
A Limited Liability Company (LLC) is defined in the Company Law as a
company incorporated with not less than two and not more than fifty
shareholders, each responsible only for the liabilities of the company to the
extent of their share participation in the capital of the company.
The Company Law provides that the capital of a Limited Liability Company
(LLC) should not be less than UAE Dh 300,000, which should be divided into
equal shares of a value not less than UAE Dh 100 each.
This type of company may engage in any form of legitimate business, with
the exception of insurance, banking and investment of funds.
Non UAE Participation
The participation of non-Emirati in a trade or business in the United Arab
Emirates is governed by the Foreign Business Investment Law, which sets capital
requirements and requires 51 percent Emirati participation in capital and
profits.
It is common for the 51 percent to be held by the UAE national on paper
only with the foreign partner(s) providing all the capital requirements for the
company and paying an annual fee to the local partner.
Under this arrangement the above ownership may not reflect the actual
profit distribution within the company, as the company may have internal
management agreements in place that provides full management of the company in
return for a share of the company’s assets and profits. This internal
relationship may or may not be recognised by law depending on the way the
internal agreement is made.
AFFILIATED COMPANIES
· International Base
Corporation
606 Hill Street,
Suite No. 806
Los Angeles
California 90014
United States of
America
Tel: (1-213)
6124504
Fax: (1-213)
612-0151
· Beladamas NV
Diamant Club 723-726
Pelikaanstraat 62
2018
Antwerp
Belgium
Tel:
(32-3) 2316355
Fax:
(32-3) 2316082
· Nichi-In Trading
Co .Ltd
5-26-14
103, Ueno, Taito – Ku
Tokyo
110.0005
Japan
Tel:
(81-3) 38395517
Fax:
(81-3) 38395506
· Oriental Diamond
Enterprises Pvt Ltd
647, Pancharatna, Opera House
Mumbai 400004
India
Tel: (91-22) 3632800
Fax: (91-22) 3644669
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
jewellery, pearls, precious stones, gold and silverware.
Import Countries : Europe and the Far East.
Operating Trend : Steady
Subject has a workforce of 35 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/08/06: Year
Ending 31/08/07:
Total Revenue UAE
Dh 43,500,000 UAE
Dh 48,275,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
Emirates Bank International Ltd
Baniyas Road
PO Box : 2923
Deira
Dubai
Tel : (971-4)
2256256 / 2256900
Fax : (971-4)
2268005 / 2267718
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
Date of transaction April
2005
Credit amount 207,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Pounds
Sterling
GENERAL COMMENTS
Established in 1982, subject is involved in the import and distribution
of jewellery, precious stones and gold.
Local sources report that payment obligations are met in a generally
timely manner and the operating history is clear. As such the company is deemed
a fair trade risk.
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%)