MIRA
INFORM REPORT
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Report Date : |
21.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL ZAMAN TRADING LLC |
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Registered Office : |
Saif Building, Al Khaleej Street, Al Daghaya, PO Box 31604, 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 : |
14.04.2001 |
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Com. Reg. No.: |
67654, Dubai |
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Legal Form : |
Limited Liability
Company - LLC |
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Line of Business : |
Import and
Distribution of Steel Products, Building Hardware and Construction Materials,
Tools, Paints and Varnishes, Construction Chemicals and Machinery Spare
Parts. |
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 : AL ZAMAN TRADING LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 14th
April 2001
Commercial
Registration Number : 67654,
Dubai
Trade Licence Number : 525631
Chamber Membership
Number : 63192
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 8
Activities :
Import and distribution of steel products, building hardware and construction
materials, tools, paints and varnishes, construction chemicals and machinery
spare parts.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 200,000
COMPANY NAME
AL ZAMAN TRADING LLC
ADDRESS
Registered & Physical Address
Building : Saif
Building
Street : Al Khaleej
Street
Area : Al Daghaya
PO Box : 31604
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2736000
Facsimile : (971-4)
2717555
Mobile : (971-50)
4605017
Email : sales@maryatrading.com
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
· Abdulrazak Hassan
Faahem Sri Lankan Managing Director
· Jassim Mohamed
Abdullah Rashid Emirati Director
LEGAL FORM & OWNERS
Date of
Establishment : 14th
April 2001
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 67654, Dubai
Trade Licence No. : 525631 (Expires 13/04/2008)
Chamber Member No. : 63192
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Jassim Mohamed
Abdullah Rashid 51%
· Abdulrazak Hassan
Faahem 49%
OPERATIONS
Activities: Engaged in the import and distribution of basic steel products, non
ferrous metal products, nuts, bolts,
screws and nails, building hardware and
construction materials, tools, paints and varnishes, construction chemicals and
machinery spare parts.
Import Countries: Germany, United Kingdom, and Japan.
Operating Trend: Steady
Subject has a workforce of 8 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 8,900,000 UAE Dh
10,200,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
Mashreq Bank Plc
Deira Branch
PO Box : 1250
Dubai
Tel : (971-4)
2229131 / 2221134
Fax : (971-4)
2233784
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
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%)