MIRA
INFORM REPORT
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Report Date : |
09.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
TAJ MOHAMED TRADING CO LLC |
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Registered Office : |
Mohamed Sharif
Asad Al Fuhaim Building, Al Ras Street, Al Ras, Deira, PO Box 64558, 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 : |
18.07.1993 |
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Com. Reg. No.: |
58189, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of Dates, Grains, Cereals, Legumes, Vegetables and Fruit |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : TAJ MOHAMED TRADING CO LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 18th July 1993
Commercial Registration Number : 58189, Dubai
Trade Licence Number : 231516
Chamber Membership Number : 27616
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 20
Activities : Import and distribution of dates, grains, cereals, legumes, vegetables and fruit
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
TAJ MOHAMED TRADING
CO LLC
ADDRESS
Registered & Physical Address
Building : Mohamed Sharif Asad Al Fuhaim Building
Street : Al Ras Street
Area : Al Ras, Deira
PO Box : 64558
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2260018
Facsimile : (971-4) 2260087
Email : tajtrad@hotmail.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
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Taj Mohamed
Dad Mohamed Pakistani Managing Director
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Abdul Baqi Meqari
Abdul Wahab Afghani Director
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Mirza Mohamed
Nizar Mohamed Pakistani Director
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Mohamed Hussan
Haji Nizar Mohamed Pakistani Director
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Bu Talib
Mohamed Bu Talib Hamza Bu Talib Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 18th
July 1993
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 58189, Dubai
Trade Licence No. : 231516
(Expires 16/07/2009)
Chamber Member No. : 27616
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Bu Talib
Mohamed Bu Talib Hamza Bu Talib 51%
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Taj Mohamed
Dad Mohamed 13%
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Abdul Baqi
Meqari Abdul Wahab 12%
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Mirza Mohamed
Nizar Mohamed 12%
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Mohamed Hussan
Haji Nizar Mohamed 12%
OPERATIONS
Activities: Engaged in the import and distribution of
dates, grains, cereals, legumes, vegetables and fruit.
Import
Countries: India and
Pakistan
Operating Trend: Steady
Subject has a
workforce of 20 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
15,300,000 UAE Dh
17,000,000
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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Emirates Bank
International Ltd
Al Nasr Square
PO Box : 2923
Dubai
Tel : (971-4) 2281181
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.43.13 |
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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%)