MIRA
INFORM REPORT
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Report Date : |
20.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHREE S.S. GENERAL TRADING LLC |
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Registered Office : |
Ad-Dana Centre, Al Maktoum Street, Rigga Al Bateen, PO Box 171419, 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 : |
14.03.2005 |
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Com. Reg. No.: |
72772, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of General Merchandise |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : SHREE S.S. GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 14th March 2005
Commercial Registration Number : 72772, Dubai
Trade Licence Number : 566816
Chamber Membership Number : 95467
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 5
Activities : Import and distribution of general merchandise
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
COMPANY NAME
SHREE S.S. GENERAL TRADING LLC
ADDRESS
Registered & Physical Address
Building : Ad-Dana
Centre
Street : Al Maktoum
Street
Area : Rigga Al
Bateen
PO Box : 171419
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2222898
/ 2359616
Facsimile : (971-4)
2222907 / 2359615
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
· Hassan Mohamed
Movahedi Far Iranian Managing Director
· Abdul Manaf
Mohamed Yousuf Murad Ali Emirati Director
LEGAL FORM & OWNERS
Date of
Establishment : 14th
March 2005
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 72772, Dubai
Trade Licence No. : 566816 (Expires 13/03/2009)
Chamber Member No. : 95467
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Abdul Manaf
Mohamed Yousuf Murad Ali 51%
· Unnamed Indian
businessman 25%
· Hassan Mohamed
Movahedi Far 24%
OPERATIONS
Activities: Subject operates with a general trade licence and is engaged in the
import and distribution of general
merchandise.
Import Countries: China, Japan and the United States of America.
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:
Sales UAE
Dh 5,750,000 UAE Dh
6,310,000
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.
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%)