MIRA
INFORM REPORT
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Report Date : |
09.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
DEMAT GENERAL TRADING LLC |
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Registered Office : |
Burjman Business
Tower, 9th Floor, Office No. 901, Bur Dubai, PO Box116364 &
118804, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
02.06.2007 |
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Com. Reg. No.: |
1010301, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Subject operates with
a general trade licence and is engaged in the import and distribution of
metals, building materials and general foodstuff products. |
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$ 40,000 |
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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : DEMAT GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 2nd June 2007
Commercial Registration Number : 1010301, Dubai
Trade Licence Number : 595597
Chamber Membership Number : 119818
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 15
Activities : Subject operates with a general trade licence
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 40,000
COMPANY NAME
DEMAT GENERAL
TRADING LLC
ADDRESS
Registered & Physical Address
Building : Burjman Business Tower, 9th Floor,
Office No. 901
Area : Bur Dubai
PO Box : 116364 & 118804
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3511616
Facsimile : (971-4) 3515090
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
·
Sri Ram Sudhir Indian Managing
Director
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Mrs Shamsa
Khamis Mishar Emirati Director
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Mukesh Chhaya - Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2nd
June 2007
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1010301,
Dubai
Trade Licence No. : 595597
(Expires 19/05/2009)
Chamber Member No. : 119818
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Mrs Shamsa
Khamis Mishar 51%
·
Sri Ram Sudhir 49%
OPERATIONS
Activities: Subject operates with a general trade licence
and is engaged in the import and distribution of metals,
building materials and
general foodstuff products.
Import
Countries: India
Subject has a
workforce of 15 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
·
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.43.13 |
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UK Pound |
1 |
Rs.85.02 |
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Euro |
1 |
Rs.67.77 |
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%)