MIRA
INFORM REPORT
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Report Date : |
23.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
ELITE GLOBAL LLC |
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Registered Office : |
Grosvenor House
Commercial Tower, Office No. 506, Sheikh Zayed Road, PO Box 7148, 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 : |
26.06.1997 |
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Com. Reg. No.: |
49272 |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of Steel and Agricultural
Commodities |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ELITE GLOBAL LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 26th June 1997
Commercial Registration Number : 49272
Trade Licence Number : 247208
Chamber Membership Number : 44431
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 3
Activities : Import and distribution of steel and agricultural commodities
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
ELITE GLOBAL LLC
ADDRESS
Registered & Physical Address
Building : Grosvenor House Commercial Tower, Office No.
506
Street : Sheikh Zayed Road
PO Box : 7148
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2096515 / 3298133
Facsimile : (971-4) 3215198 / 3298177
Email : info@eliteglobalco.com
Premises
Subject operates from
a small suite of offices that are rented and located in the Suburban Business
Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
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Ali Shahram
Poor Safar Iranian Managing Director
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Sultan Ahmad
Mohamed Al Habtoor Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 26th
June 1997
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 49272
Trade Licence No. : 247208
(Expires 25/06/2008)
Chamber Member No. : 44431
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Sultan Ahmad
Mohamed Al Habtoor 51%
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Ali Shahram
Poor Safar 49%
OPERATIONS
Activities: Engaged in the import and distribution of
steel and agricultural commodities.
Import
Countries: Brazil, India
and China.
Operating Trend: Steady
Subject has a
workforce of 3 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
15,900,000 UAE Dh
18,100,000
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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Emirates Bank
International Ltd
Al Nasr Square
PO Box : 2923
Dubai
Tel : (971-4) 2281181
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%)