MIRA
INFORM REPORT
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Report Date : |
18.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL YASMEEN ELECTRICAL AND SWITCHGEAR TRADING LLC |
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Registered Office : |
Industrial Area
No. 4, PO Box 22651, 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 : |
24.11.2001 |
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Com. Reg. No.: |
4102, Sharjah |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Wholesale and Retail of Electrical Remote Control Devices
and Switchgear |
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$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL YASMEEN ELECTRICAL AND SWITCHGEAR TRADING LLC
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 24th November 2001
Commercial Registration Number : 4102, Sharjah
Trade Licence Number : 512240
Chamber Membership Number : 52821
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 15
Activities : Wholesale and retail of electrical remote control devices and switchgear
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
COMPANY NAME
AL YASMEEN
ELECTRICAL AND SWITCHGEAR TRADING LLC
ADDRESS
Registered & Physical Address
Location : Industrial Area No. 4
PO Box : 22651
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5333572
Facsimile : (971-6) 5335266
Mobile : (971-50) 6312330
Email : yaselec@emirates.net.ae
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Industrial Area of Sharjah.
KEY PRINCIPALS
Name Nationality Position
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Khalil
Dawood Mohamed Dawood Emirati Managing
Director
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Saif
Alddin Bahna Indian Director
LEGAL FORM & OWNERS
Date of Establishment : 24th
November 2001
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 4102, Sharjah
Trade Licence No. : 512240 (Expires 22/11/2208)
Chamber Member No. : 52821
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s)
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Khalil
Dawood Mohamed Dawood
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Saif
Alddin Bahna
OPERATIONS
Activities: Engaged in the wholesale and retail of
electrical remote control devices and switchgear.
Import
Countries: Turkey, Japan
and the United States of America
International
Suppliers:
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Klemson Turkey
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Daia
Corp Japan
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Cuttler
Hammer United States of America
Operating Trend: Steady
Subject has a
workforce of 15 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
15,285,000 UAE Dh
16,390,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr Saif Alddin Bahna,
Director.
BANKERS
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Habib Bank Ltd
PO Box : 300
Sharjah
Tel : (971-6) 5356116
Fax : (971-6) 5526473
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%)