MIRA
INFORM REPORT
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Report Date : |
12.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
BEST FOOD CO LLC |
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Registered Office : |
Plot No. 341 B
Airport Road, Umm Ramool, Al Rashidiya Industrial Area, PO Box 10602, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
08.05.1980 |
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Com. Reg. No.: |
41352, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Production of Nuts and Chocolates |
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$ 500,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : BEST FOOD CO LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 8th May 1980
Commercial Registration Number : 41352, Dubai
Trade Licence Number : 300267
Chamber Membership Number : 3138
Issued Capital : UAE Dh 4,500,000
Paid up Capital : UAE Dh 4,500,000
Total Workforce : 250
Activities : Production of nuts and chocolates
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 500,000
COMPANY NAME
BEST FOOD CO LLC
ADDRESS
Registered & Physical Address
Building : Plot No. 341 B
Street : Airport Road
Area : Umm Ramool, Al Rashidiya
Industrial Area
PO Box : 10602
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2857584
Facsimile : (971-4) 2857976
Mobile : (971-50)
Email : bestfood@emirates.net.ae
Premises
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
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Rashid Majid
Quraiban Al Mehairi Emirati Managing
Director
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Mohamed Abdul
Aziz Mohamed Al Makhawi Emirati Director
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Bahjat Faeq
Mohamed Hassan Jordanian General Manager
LEGAL FORM & OWNERS
Date of Establishment : 8th
May 1980
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 41352, Dubai
Trade Licence No. : 300267
Chamber Member No. : 3138
Issued Capital : UAE Dh 4,500,000
Paid up Capital : UAE Dh 4,500,000
Name of
Shareholder (s) Percentage
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Rashid Majid
Quraiban Al Mehairi 33.4%
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Al Hathboor
Group LLC 33.3%
Dubai
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Mohamed Abdul
Aziz Mohamed Al Makhawi 33.3%
OPERATIONS
Activities: Engaged in the production of nuts and
chocolates.
Production
Capacity: 1,250 metric
tonnes per month
Import Countries: United States of America, South America and
Asia
Export
Countries: Saudi
Arabia, Qatar, Bahrain, Oman, Kuwait, Syria, Jordan, Morocco, Egypt, Lebanon,
Yemen, Iraq, Kazakhstan, Armenia, Pakistan, and Bangladesh
Subject has a
workforce of approximately 250 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
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United Arab
Bank
Deira Branch
Dubai
Tel : (971-4) 2220181
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.
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%)