MIRA
INFORM REPORT
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Report Date : |
18.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
DELTA LINE INTERNATIONAL BUILDING MATERIALS TRADING LLC |
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Registered Office : |
Sultan Business Centre Plaza, 1st Floor, Zabeel Road, P Box– 103530, 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 : |
10.11.2003 |
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Com. Reg. No.: |
64766, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of Building Materials and Construction
Equipment, Specialising in Infrastructure Materials
Including Base and Road Work |
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$ 300,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name :
DELTA LINE INTERNATIONAL BUILDING MATERIALS TRADING LLC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
10th November 2003
Commercial Registration Number :
64766, Dubai
Trade Licence Number :
550586
Chamber Membership Number :
82204
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
5
Activities :
Import and distribution of building materials and construction
equipment,
specialising in infrastructure materials including
base and
aggregates for
building and road work
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit :
US$ 300,000
COMPANY NAME
DELTA LINE INTERNATIONAL BUILDING MATERIALS TRADING LLC
ADDRESS
Registered & Physical Address
Building : Sultan
Business Centre Plaza, 1st Floor
Street : Zabeel Road
PO Box : 103530
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 3377488
Facsimile : (971-4)
3379177
Mobile : (971-50) 343184
Email : deltagt@yahoo.com
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
Darwish Najeh Darwish Tabeelah Jordanian Managing Director
Hamdan Abdul Wahab Salman Arab Emirati Director
Kamal Saeed - Administration
Manager
Mohamed Al Khalil - Sales Manager
Ms Maya Galagoy - Administrative
Secretary
LEGAL FORM &
OWNERS
Date of Establishment : 10th
November 2003
Legal Form : Limited Liability
Company - LLC
Commercial Reg. No. : 64766, Dubai
Trade Licence No. : 550586 (Expires
04/11/2008)
Chamber Member No. : 82204
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
Hamdan Abdul Wahab Salman Arab 51%
Darwish Najeh Darwish Tabeelah 49%
OPERATIONS
Activities: Engaged in the import and distribution of building materials and
construction equipment, specialising in infrastructure
materials including base and aggregates for building and road work.
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 26,000,000 UAE Dh
30,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures were confirmed by Mr Mohamed Al Khalil, Sales Manager.
BANKERS
National Bank of Ras Al Khaimah
PO Box : 1531
Dubai
Tel : (971-4) 2226291
Fax : (971-4) 2281312
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
Date of transaction November
2005
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 owned and managed by Mr Darwish Najeh
Darwish Tabeelah, a Jordanian national who operates in Dubai under the local
sponsorship of Mr Hamdan Abdul Wahab Salman Arab.
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 and the above credit figure is considered 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%)