MIRA
INFORM REPORT
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Report Date : |
09.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
ESQUIRE BUILDING MATERIALS LLC |
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Registered Office : |
Al Mulla Bldg, Suite No. 206, Al Muteena Street, Deira, PO
Box 63120, Dubai |
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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 : |
09.04. 2003 |
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Com. Reg. No.: |
62301, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of Floor and Wall Tiles and Steel
Products |
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 : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : ESQUIRE BUILDING MATERIALS LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 9th April 2003
Commercial Registration Number : 62301, Dubai
Trade Licence Number : 543894
Chamber Membership Number : 76807
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 4
Activities : Import and distribution of floor and wall tiles and steel products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
ESQUIRE BUILDING
MATERIALS LLC
ADDRESS
Registered & Physical Address
Building : Al Mulla Bldg, Suite No. 206
Street : Al Muteena Street
Area : Deira
PO Box : 63120
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2660520
Facsimile : (971-4) 2660521
Mobile : (971-4) 4233139 / 3456754
Email : perfects@emirates.net.ae
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
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Rajashekharan
Siburaj Indian Managing
Director
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Bajina
Rohinton Jamshid Indian Director
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Jamal Ibrahim
Mohamed Al Haj Ahli Emirati Director
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Ibrahim
Sheikh - Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 9th
April 2003
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 62301, Dubai
Trade Licence No. : 543894
(Expires 07/04/2009)
Chamber Member No. : 76807
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Jamal Ibrahim
Mohamed Al Haj Ahli 51%
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Rajashekharan
Siburaj 47%
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Bajina Rohinton
Jamshid 2%
OPERATIONS
Activities: Engaged in the import and distribution of
floor and wall tiles and steel products.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 4 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 4,100,000 UAE Dh
4,620,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
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.
Date of
transaction March
2007
Credit amount 150,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
GENERAL COMMENTS
Established in
2003, subject is involved in the import and distribution of floor and wall
tiles and steel products.
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.
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%)