MIRA
INFORM REPORT
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Report Date : |
23.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
BOOKSPLUS LLC |
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Registered Office : |
Spinney’s Dubai Building, Al Wasl Road, Umm Suqeim, PO Box 27401 & 72934, 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 : |
18.05.1997 |
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Com. Reg. No.: |
49006, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Wholesale and Retail of Books |
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 : BOOKSPLUS LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 18th May 1997
Commercial Registration Number : 49006, Dubai
Trade Licence Number : 246515
Chamber Membership Number : 37661
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 37
Activities : Wholesale and retail of books
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
BOOKSPLUS LLC
ADDRESS
Registered & Physical Address
Building : Spinney’s Dubai Building
Street : Al Wasl Road
Area : Umm Suqeim
PO Box : 27401 & 72934
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3940278 / 3629973
Facsimile : (971-4) 3941006 / 3629972
Mobile : (971-50) 6505812
Email : bookplus@emirates.net.ae
Premises
Subject operates
from a medium sized suite of offices and a showroom that are rented and located
in the Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
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Nielsh Kumar
Naval Ved Indian Managing
Director
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Jayant Kumar
Lal Ganwani Indian Director
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Lal Hariram
Ganwani Indian Director
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Mohamed Essa
Mohamed Al Samt Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 18th
May 1997
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 49006, Dubai
Trade Licence No. : 246515
(Expires 17/05/5009)
Chamber Member No. : 37661
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s)
·
Nielsh Kumar
Naval Ved
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Jayant Kumar
Lal Ganwani
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Lal Hariram
Ganwani
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Mohamed Essa
Mohamed Al Samt
OPERATIONS
Activities: Engaged in the wholesale and retail of
books.
Import
Countries: United Kingdom
and United States of America
Operating Trend: Steady
Subject has a
workforce of 37 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
20,500,000 UAE Dh
22,100,000
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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Habib Bank AG
Zurich
Baniyas Road
PO Box 3306
Dubai
Tel: (971-4) 2214535
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%)