MIRA
INFORM REPORT
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Report Date : |
02.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
ADMIRALS TRADING LLC |
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Registered Office : |
Saeed Mohamed
Alkameda Building, Sheikh Zayed Road, Al Quoz, PO Box 71857, 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 : |
09.09. 2000 |
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Com. Reg. No.: |
55198, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of General Foodstuff. |
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 : ADMIRALS TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 9th September 2000
Commercial Registration Number : 55198, Dubai
Trade Licence Number : 521001
Chamber Membership Number : 60237
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 11
Activities : Import and distribution of general foodstuff.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
ADMIRALS TRADING
LLC
ADDRESS
Registered & Physical Address
Building : Saeed Mohamed Alkameda Building
Street : Sheikh Zayed Road
Area : Al Quoz
PO Box : 71857
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3393656
Facsimile : (971-4) 3393657
Email : al_admir@eim.ae
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Industrial Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
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Alyaster
Hamees Mukorny New
Zealand Managing Director
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Michael
Georges Denis New
Zealand Director
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Aianyan
Kristopher Parson New
Zealand Director
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Sulaiman
Mohamed Sulaiman Salem Al Mehri Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 9th
September 2000
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 55198, Dubai
Trade Licence No. : 521001
(Expires 08/09/2008)
Chamber Member No. : 60237
Issued Capital : UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Name of Shareholder (s) Percentage
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Sulaiman
Mohamed Sulaiman Salem Al Mehri 51%
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Alyaster
Hamees Mukorny 22%
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Michael
Georges Denis 22%
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Aianyan
Kristopher Parson 5%
OPERATIONS
Activities: Engaged in the import and distribution of
general foodstuff.
Import
Countries: Australia, New
Zealand and Asia
Operating Trend: Steady
Subject has a
workforce of 11 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 9,150,000 UAE Dh 9,800,000
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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Commercial
Bank of Dubai
Baniyas Street
Deira
PO Box : 1709
Dubai
Tel : (971-4) 2227121 / 2253222
Fax : (971-4) 2220943 / 2254565
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.
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%)