MIRA
INFORM REPORT
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Report Date : |
03.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL YASAT MARBLE & GRANITE FACTORY LLC |
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Registered Office : |
Industrial Area
No. 13, PO Box 35911, Sharjah |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
19.08.2001 |
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Com. Reg. No.: |
40296 |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Processing, Cutting and Polishing of Marble and Granite |
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 : AL YASAT MARBLE & GRANITE FACTORY LLC
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 19th August 2001
Commercial Registration Number : 40296
Trade Licence Number : 510635
Chamber Membership Number : 52013
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 8
Activities : Processing, cutting and polishing of marble and granite
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
AL YASAT MARBLE
& GRANITE FACTORY LLC
ADDRESS
Registered & Physical Address
Location : Industrial Area No. 13
PO Box : 35911
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5597393 / 5357077
Facsimile : (971-6) 5347078
Mobile : (971-50) 4560939
Email : gilra121@hotmail.com
Premises
Subject operates from
a small suite of offices and a workshop that are rented and located in the
Industrial Area of Sharjah.
KEY PRINCIPALS
Name Nationality Position
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Omar
Saeed Bakheet Emirati Managing
Director
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Ms
Vandana Gilra Indian Director
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Ajay
Gilra Indian General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 19th
August 2001
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 40296
Trade Licence No. : 510635 (Expires 17/08/2008)
Chamber Member No. : 52013
Issued Capital : UAE Dh 150,000
Paid up :
UAE Dh 150,000
Name of Shareholder (s) Percentage
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Omar
Saeed Bakheet 51%
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Ms
Vandana Gilra 49%
AFFILIATED COMPANIES
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Al Yasat
Building Material Trading LLC
Industrial Area No. 17
PO Box 35911 & 24847
Sharjah
Tel: (971-6) 5597393 / 5357077
Fax: (971-6) 5347078 / 5597393
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Al Yasat
Used Paper
PO Box 35911
Sharjah
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Al
Yasat Plaster & Tile Contracting
PO Box 35911
Sharjah
OPERATIONS
Activities: Engaged in the processing, cutting and
polishing of marble and granite.
Import
Countries: Italy, Spain and
India
Operating Trend: Steady
Subject has a
workforce of 8 employees.
FINANCIAL DATA
Financial highlights
provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Sales UAE Dh 6,000,000 UAE Dh 7,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Ajay Gilra, General Manager.
BANKERS
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Abu Dhabi
Commercial Bank
Mina Road
PO Box : 4377
Sharjah
Tel : (971-6) 5737000
Fax : (971-6) 5725331
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
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 and the above credit figure is
within subject’s financial means.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.30 |
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UK Pound |
1 |
Rs.86.13 |
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Euro |
1 |
Rs.68.72 |
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%)