MIRA
INFORM REPORT
|
Report Date : |
25.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
HUSSAIN MURAD GENERAL TRADING LLC |
|
|
|
|
Registered Office : |
104 Murshid Bazar, Al Ras, Deira, PO Box 113127 & 6345, Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
18.10.2004 |
|
|
|
|
Com. Reg. No.: |
70443, Dubai |
|
|
|
|
Legal Form : |
Limited Liability Company - LLC |
|
|
|
|
Line of Business : |
General traders engaged in the import and distribution of general merchandise |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 150,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : HUSSAIN MURAD GENERAL TRADING LLC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
18th October 2004
Commercial Registration Number :
70443, Dubai
Trade Licence Number :
562455
Chamber Membership Number :
91764
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce : 5
Activities :
General traders engaged in the import and distribution of general
merchandise
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Recommended Credit Limit :
US$ 150,000
COMPANY NAME
HUSSAIN MURAD GENERAL TRADING LLC
ADDRESS
Registered & Physical
Address
Location : 104 Murshid
Bazar, Al Ras, Deira
PO Box : 113127 &
6345
Town : Dubai
Country :United Arab Emirates
Telephone : (971-4) 2352874
Facsimile : (971-4)
2352875
Premises
Subject operates from a small suite of offices and a showroom that are rented
and located in the Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
· Ravi Soni Surinder
Soni Indian Managing
Director
· Hussain Murad
Ibrahim Al Balooshi Emirati Director
LEGAL FORM & OWNERS
Date of
Establishment : 18th
October 2004
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 70443, Dubai
Trade Licence No. : 562455 (Expires 17/10/2008)
Chamber Member No. : 91764
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name
of Shareholder (s) Percentage
· Hussain Murad
Ibrahim Al Balooshi 51%
· Ravi Soni Surinder
Soni 49%
OPERATIONS
Activities: Engaged as general traders engaged
in the import and distribution of general merchandise, including textiles and
fabrics
Import Countries: India,
Pakistan and China
Operating Trend: Steady
Subject has a workforce of 5 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 6,800,000 UAE Dh
7,350,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)