MIRA
INFORM REPORT
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Report Date : |
17.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
DHAW AL NAJAM ELECTRIC WARE TRADING LLC |
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Registered Office : |
Shop No. 13,
Khaleed Bin Walid Road, Al Ghuwair Rolla, PO Box 28178, Sharjah |
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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 : |
02.10.2000 |
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Com. Reg. No.: |
36771, Sharjah |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Wholesale and Retail of Electrical
Ware and Products |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : DHAW AL NAJAM ELECTRIC WARE TRADING LLC
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 2nd October 2000
Commercial Registration Number : 36771, Sharjah
Trade Licence Number : 506184
Chamber Membership Number : 48988
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 12
Activities : Wholesale and retail of electrical ware and products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
DHAW AL NAJAM
ELECTRIC WARE TRADING LLC
ADDRESS
Registered & Physical Address
Building : Shop No. 13
Street : Khaleed Bin Walid Road
Area : Al Ghuwair Rolla
PO Box : 28178
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5624113 / 5689622
Facsimile : (971-6) 5613722
Mobile : (971-50)
Email : dnemaxlt@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 Sharjah.
KEY PRINCIPALS
Name Nationality Position
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Naraien
Defindas Indian Managing
Director
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Najeeb
Abdullah Mohamed Emirati Director
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Yasser
Abdullah Mohamed - General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2nd
October 2000
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 36771, Sharjah
Trade Licence No. : 506184 (Expires 30/09/2008)
Chamber Member No. : 48988
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder (s) Percentage
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Najeeb
Abdullah Mohamed 51%
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Naraien
Defindas 49%
OPERATIONS
Activities: Engaged in the wholesale and retail of electrical ware and products, such as switches, cables,
lighting and Accessories.
Import
Countries: India and China
International
Suppliers:
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Khaitan India
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Max
Light China
Operating Trend: Steady
Subject has a workforce
of 12 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
12,000,000 UAE Dh
15,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Yasser Abdullah Mohamed,
General Manager.
BANKERS
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Emirates Bank
International Ltd
Immigration Road
PO Box : 25090
Sharjah
Tel : (971-6) 733300
Fax : (971-6) 730077
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
During the course
of this investigation nothing detrimental was uncovered regarding the manner in
which payment obligations are fulfilled. The operating history is clear and the
financial situation is satisfactory. As such we are of the opinion that the
subject is 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%)