MIRA
INFORM REPORT
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Report Date : |
10.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL SHARQ AL AQSSA TRADING CO LLC |
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Registered Office : |
Jebel Ali Free
Zone, PO Box 17044, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
1991 |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and distribution of general
foodstuff and consumer goods |
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 SHARQ AL AQSSA TRADING CO LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 1991
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 25
Activities : Import and distribution of general foodstuff and consumer goods
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
COMPANY NAME
AL
SHARQ AL AQSSA TRADING CO LLC
ADDRESS
Registered & Physical Address
Location : Jebel Ali Free Zone
PO Box : 17044
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8815211 / 8819739
Facsimile : (971-4) 8815404
Email : info@asaat.om
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Jebel Ali Free Zone.
KEY PRINCIPALS
Name Nationality Position
·
Partish
Depala Indian Managing
Director
·
Neela
Depala Indian Director
·
M. Issa Emirati Director
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Paraful
Patel - General
Manager
·
C.
Rama Krishnan - Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1991
Legal Form :
Limited Liability Company -
LLC
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s)
·
Partish
Depala
·
Neela
Depala
·
M. Issa
OPERATIONS
Activities: Engaged in the import and distribution of general foodstuff and consumer goods.
Import
Countries: India, Oman,
China and Europe
Subject has a
workforce of 25 employees.
FINANCIAL DATA
Companies registered
in Dubai, United Arab Emirates are not legally required to make their accounts
public and no financial information was released by the company or submitted by
outside sources.
BANKERS
·
Emirates Bank
International Ltd
Jebel Ali Free Zone Branch
PO Box: 2923
Dubai
Tel: (971-4) 8815551
Fax: (971-4) 8815545
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.72 |
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UK Pound |
1 |
Rs.84.42 |
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Euro |
1 |
Rs.67.38 |
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%)