MIRA
INFORM REPORT
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Report Date : |
18.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL MAKARAM TRADING LLC |
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Registered Office : |
Edris Mohamed Alawadhi Building, Al Bateen Street, Fakhri Market, Al Bateen, P O Box - 24366 &
114689, 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 : |
15.02.1981 |
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Com. Reg. No.: |
6402, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of Electrical Household Products, Radios, DVDS, Games and TV Games. |
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 :
AL MAKARAM TRADING LLC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
15th February 1981
Commercial Registration Number :
6402, Dubai
Trade Licence Number :
206796
Chamber Membership Number : 7453
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
5
Activities :
Import and distribution of electrical household products, radios, DVDs,
games and TV games
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Recommended Credit Limit :
US$ 150,000
COMPANY NAME
AL MAKARAM TRADING LLC
ADDRESS
Registered & Physical Address
Building : Edris Mohamed Alawadhi
Building
Street : Al Bateen
Street
Area : Fakhri Market, Al Bateen
PO Box : 24366 &
114689
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2256545
Facsimile : (971-4)
2253137
Mobile : (971-50) 6245376
Email : almak@emirates.net.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
Hetish Lashandani Indian Managing Director
Ali Hussain Qamber Bilal Emirati Director
Keshor Kumar - Sales Manager
LEGAL FORM &
OWNERS
Date of Establishment : 15th
February 1981
Legal Form : Limited Liability
Company - LLC
Commercial Reg. No. : 6402, Dubai
Trade Licence No. : 206796 (Expires
03/12/2008)
Chamber Member No. : 7453
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
Ali Hussain Qamber Bilal 51%
Hetish Lashandani 49%
OPERATIONS
Activities: Engaged in the import and distribution of electrical household
products, radios, DVDs, games and TV games.
Import Countries: Europe and GCC countries
Operating Trend: Steady
Subject has a workforce of 5 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 5,300,000 UAE Dh
5,750,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures were confirmed by Keshor
Kumar, Sales Manager.
BANKERS
Habib Bank Ltd
Murshid Bazaar
PO Box : 888
Dubai
Tel : (971-4) 2221281
Fax : (971-4) 2284631
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
Date of transaction September
2006
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 1981, subject is owned and managed by Mr Hetish
Lashandani, an Indian national who operates in Dubai under the sponsorship of
Mr Ali Hussain Qamber Bilal.
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 deemed to be 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.42.78 |
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UK Pound |
1 |
Rs.85.51 |
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Euro |
1 |
Rs.67.90 |
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%)