MIRA
INFORM REPORT
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Report Date : |
29.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
HAKAN AGRO DMCC |
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Registered Office : |
Sheikh Zayed Road, Al Quoz Industrial Area, PO Box 31489, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
29.03.2005 |
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Legal Form : |
Free Zone Company |
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Line of Business : |
Distributors of Fruit and Vegetables |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : HAKAN AGRO DMCC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Company – FZ LLC
Registration Date : 29th March 2005
Trade Licence Number : 30158
Membership Number : 95940
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 20
Line of Business : Distributors of fruit and vegetables.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
HAKAN AGRO DMCC
ADDRESS
Registered & Physical Address
Street : Sheikh Zayed
Road
Area : Al Quoz
Industrial Area
PO Box : 31489
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2287818
Facsimile : (971-4)
2274434
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
· Hakan Bahceci Belizean Managing
Director
· Sudhakar Vardhan
Singh Tomar Indian Director
· Essa Abdullah
Mohamed Zaman Kamali Emirati Director
LEGAL FORM & OWNERS
Date of
Establishment : 29th
March 2005
Legal Form : Free Zone Company
– FZ LLC
Trade Licence No. : 30158 (Expires 18th March 2008)
Membership No. : 95940
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder (s) Percentage
· Hakan Holdings Ltd 100%
Dubai
Note to the Legal
Form
A Free Zone Company (FZ LLC) is a Private Limited Liability Company, with its liability determined by the amount of paid-up capital. The minimum share capital currently stands at UAE Dh 1,000,000.
This legal form allows for 100 percent foreign ownership within the United Arab Emirates and allows foreign companies to maintain a presence in the UAE (within the free zone), without the usual requirement of a local sponsor that would hold majority ownership, ie minimum of 51 % equity in the capital.
AFFIIATED COMPANIES
· Hakan Agro
Commodities Trading Co LLC
Green Tower, 9th Floor, Suite 904
Baniyas Road
Rigga Al Bateen
PO Box : 31489
Dubai
Tel : (971-4) 2287818
Fax : (971-4) 2274434
LINE OF BUSINESS
Operations : Engaged in the import and distribution of fruit
and vegetables.
Import Countries : Europe and the Far East.
Subject has a workforce of 20 employees.
FINANCIAL HIGHLIGHTS
Companies registered in Dubai, United Arab Emirates are not legally
required to make their accounts public and no financial information was
released by the company or submitted by outside sources.
BANKERS
·
Standard Chartered Bank
Khalid Bin Waleed
Street
PO Box : 999
Dubai
Tel : (971-4)
2520455
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 2005, subject is involved in the import and distribution
of fruit and vegetables.
Local sources report that subject meets its payments in a timely manner
and is considered to be a fair trade risk.
Maximum suggested credit figure: US$ 100,000
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%)