MIRA
INFORM REPORT
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Report Date : |
03.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHELDON GUEST SUPPLIES LLC |
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Registered Office : |
Al Zarooni
Building, Ground Floor, Shop No. 17, Deira, PO Box 89163, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
10.12.2007 |
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Com. Reg. No.: |
1020202, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of Hotel Supplies |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 50,000 |
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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : SHELDON GUEST SUPPLIES LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 10th December 2007
Commercial Registration Number : 1020202, Dubai
Trade Licence Number : 603779
Chamber Membership Number : 126924
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 12
Activities : Import and distribution of hotel supplies
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 50,000
COMPANY NAME
SHELDON GUEST
SUPPLIES LLC
ADDRESS
Registered & Physical Address
Building : Al Zarooni Building, Ground Floor, Shop No.
17
Area : Deira
PO Box : 89163
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2359803
Facsimile : (971-4) 2359804
Email : info@sheldon.ae
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Ali Asghar Indian Managing
Director
·
Idrees Hassan Indian Director
·
Pravez Afsal Indian Director
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Sahar Afsal Indian Director
·
Yousuf Khalifa
Mohamed Al Fuqaei Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 10th
December 2007
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1020202,
Dubai
Trade Licence No. : 603779
(Expires 03/12/2008)
Chamber Member No. : 126924
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s)
·
Ali Asghar
·
Idrees Hassan
·
Pravez Afsal
·
Sahar Afsal
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Yousuf Khalifa
Mohamed Al Fuqaei
OPERATIONS
Activities: Engaged in the import and distribution of hotel
supplies, including crockery, glassware, cutlery, kitchen
equipment and linen.
Import
Countries: Turkey, Germany,
Malaysia, India and the United States of America
Subject has a
workforce of 12 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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Mashreq Bank
Plc
Deira Branch
PO Box : 1250
Dubai
Tel : (971-4) 2229131 / 2221134
Fax : (971-4) 2233784
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Investigations
undertaken in Dubai did not reveal any sign of payment defaults or delays
during initial trading stages, and subject is believed to meet its payment
obligations in a timely manner, nevertheless, and in view of the company’s
infancy and the lack of a more consistent payment and financial record, a
measure of caution is advisable and a close monitoring of subject’s business
development is recommended.
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%)