MIRA
INFORM REPORT
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Report Date : |
09.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
LOYD BUILDING
MATERIALS TRADING LLC |
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Registered Office : |
Abdullah Alfahad Building , Al Qusais Street, Al Qusais Area, PO Box
120881, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
10.12.2000 |
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Com. Reg. No.: |
62249, Dubai |
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Legal Form : |
Limited Liability
Company - LLC |
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Line of Business : |
Importer and
Distributor of Building and Construction Materials. |
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 : LOYD BUILDING
MATERIALS TRADING LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 10th
December 2000
Commercial
Registration Number : 62249,
Dubai
Trade Licence Number : 522939
Membership Number : 61433
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 7
Line of Business :
Distributor of building and construction materials.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
LOYD BUILDING MATERIALS TRADING LLC
ADDRESS
Registered & Physical Address
Building : Abdullah
Alfahad Building
Street : Al Qusais
Street
Area : Al Qusais
Area
PO Box : 120881
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2348091
Facsimile : (971-4)
2348092
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
· Mohamed Saeed Murad
Abdullah Alreyaysa Emirati Managing Director
LEGAL FORM & OWNERS
Date of
Establishment : 10th
December 2000
Legal Form : Sharikat Thet
Massouliya Mahdoudeh (Limited Liability Company - LLC)
Commercial Reg.
No. : 62249, Dubai
Trade Licence No. : 522939 (Expires 8th December
2008)
Membership No. : 61433
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s)
· Mohamed Saeed Murad Abdullah Alreyaysa
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
hardware, tools, paint, varnishes, construction
chemicals, building and construction materials, non-ferrous metal
products, general
maintenance electromechanical equipment installation and maintenance.
Import Countries : Europe and the Far East.
Operating Trend : Steady
Subject has a workforce of 7 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/05 : Year
Ending 31/12/06 :
Total Revenue UAE
Dh 5,800,000 UAE
Dh 6,320,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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Mashreq Bank Plc
Deira Branch
PO Box : 1250
Dubai
Tel : (971-4) 2229131
/ 2221134
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
Established in 2000, subject is involved in the import and distribution
of hardware, tools, paint, varnishes, construction chemicals, building and
construction materials, non-ferrous metal products,
general maintenance electromechanical equipment installation and
maintenance.
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 and the above credit figure is considered to be within
subject’s financial means.
Maximum suggested credit figure: US$ 150,000
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%)