MIRA
INFORM REPORT
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Report Date : |
17.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
A.W. AL ROSTAMANI LUMINA LLC |
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Registered Office : |
Sheikh Zayed
Road, Al Quoz Industrial Area, PO Box
282427 & 282153, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
02.05.1999 |
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Com. Reg. No.: |
52571, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Manufacture of High Quality Lighting and Lighting Control
Equipment |
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$ 750,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : A.W. AL ROSTAMANI LUMINA LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 2nd May 1999
Commercial Registration Number : 52571, Dubai
Trade Licence Number : 510710
Chamber Membership Number : 53110
Issued Capital : UAE Dh 4,000,000
Paid up Capital : UAE Dh 4,000,000
Total Workforce : 200
Activities : Manufacture of high quality lighting and lighting control equipment
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 750,000
COMPANY NAME
A.W. AL ROSTAMANI
LUMINA LLC
ADDRESS
Registered & Physical Address
Street : Sheikh Zayed Road
Area : Al Quoz Industrial Area
PO Box : 282427 & 282153
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3475119
Facsimile : (971-4) 3471432
Mobile : (971-50)
Email : art@alrostamani.ae
Premises
Subject operates from
a large suite of offices and a factory that are rented and located in the
Industrial Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Abdul Wahed
Hassan Al Rostamani Emirati Managing
Director
·
Abdalwahed Al
Rostamani Emirati General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2nd
May 1999
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 52571, Dubai
Trade Licence No. : 510710
Chamber Member No. : 53110
Issued Capital : UAE Dh 4,000,000
Paid up Capital : UAE Dh 4,000,000
Name of Shareholder (s) Percentage
·
Al Rostamani
Investment LLC 50%
Dubai
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Abdul Wahed
Hassan Al Rostamani 50%
AFFILIATED COMPANIES
Subject is a member of the Al Rostamani Group of Companies, which comprises
the following concerns :
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Al Rostamani
Real Estate
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Al Rostamani
Euro Steel Industries
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Al Rostamani
Information Services
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Al Rostamani
Pegel
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Arabian
Automobiles
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A.R. Summit
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Central
Trading Co
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Cimel Al
Rostamani
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Destinations
of the World
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Dubai
International Securities
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EMACO
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General Impex
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Gulf Heavy
Equipment
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Thomas Cook Al
Rostamani
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United Diesel
Co
OPERATIONS
Activities: Engaged in the manufacture of high quality
lighting and lighting control equipment for residential,
commercial and industrial
applications.
Import
Countries: Spain, Austria,
Germany, Belgium, United States of America and Australia
International
Suppliers:
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Frater Euro
Electricals S.A Spain
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Esto Lighting
GmbH Austria
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Spittler Germany
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Wever &
Ducre Belgium
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Cathode
lighting Systems (CLS) United
States of America
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Luxman Australia
Subject has a
workforce of 200 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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Citibank
Al Maktoum Street
Deira
PO Box : 749
Dubai
Tel : (971-4) 5074121
Fax : (971-4) 2238922
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%)