MIRA
INFORM REPORT
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Report Date : |
25.06.2008 |
IDENTIFICATION
DETAILS
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Correct Name : |
STOCK HOUSE GENERAL TRADING LLC |
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Registered Office : |
Ajman Industrial
Area, PO Box 2798 & 22543, Ajman |
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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 : |
16.07.1992 |
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Com. Reg. No.: |
11166, Ajman |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of Readymade Garments, T-Shirts, Ladies and Children’s Wear |
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 : STOCK HOUSE GENERAL TRADING LLC
Country of Origin : Ajman, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 16th July 1992
Commercial Registration Number : 11166, Ajman
Trade Licence Number : 14084
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 7
Activities :
Import and distribution of readymade garments, T-Shirts,
ladies and
children’s wear
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
STOCK HOUSE GENERAL
TRADING LLC
ADDRESS
Registered & Physical Address
Location : Ajman Industrial Area
PO Box : 2798 & 22543
Town :
Ajman
Country : United Arab Emirates
Telephone : (971-6) 7431793
Facsimile : (971-6) 7431583
Mobile : (971-50) 6310852
Email : shgt@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 Ajman.
KEY PRINCIPALS
Name Nationality Position
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Abdul Qader
Abdul Rahman Saleem Indian Managing
Director
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Abdullah
Saif Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 16th
July 1992
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 11166, Ajman
Trade Licence No. : 14084 (Expires 15/03/2009)
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Abdullah
Saif 51%
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Abdul Qader
Abdul Rahman Saleem 49%
OPERATIONS
Activities: Engaged in the import and distribution of
readymade garments, T-Shirts, ladies and children’s
wear.
Import
Countries: India
Operating Trend: Steady
Subject has a
workforce of 7 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 9,500,000 UAE Dh 10,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr Abdul Qader Abdul Rahman Saleem, Managing
Director.
BANKERS
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Abu
Dhabi Commercial Bank
PO Box : 1843
Ajman
Tel
: (971-6) 7443444
Fax
: (971-6) 7443300
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%)