MIRA
INFORM REPORT
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Report Date : |
21.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
LEMOGE TRADING LLC |
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Registered Office : |
Yousuf Ahli Real Estate Building, Al Ittihad Square, Al Rigga, PO Box
28233, 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 : |
17.11.1993 |
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Com. Reg. No.: |
42941, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Wholesale and Retail of Auto Spare Parts and Components,
Batteries, Tyres and Rims. |
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 : LEMOGE TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 17th November 1993
Commercial Registration Number : 42941, Dubai
Trade Licence Number : 232570
Chamber Membership Number : 28792
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 4
Activities : Wholesale and retail of auto spare parts and components, batteries, tyres and rims.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
ARIC Credit Rating : BB
Recommended Credit Limit : US$ 200,000
COMPANY NAME
LEMOGE TRADING LLC
ADDRESS
Registered & Physical Address
Building : Yousuf Ahli
Real Estate Building
Street : Al Ittihad
Square
Area : Al Rigga
PO Box : 28233
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2276557
Facsimile : (971-4)
2276553
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
· Isam Jamil Samour Syrian Managing Director
· Abdul Qader
Mohamed Yousuf Amrullah Karmustaji Emirati Director
LEGAL FORM & OWNERS
Date of
Establishment : 17th
November 1993
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 42941, Dubai
Trade Licence No. : 232570 (Expires 15/07/2009)
Chamber Member No. : 28792
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Abdul Qader
Mohamed Yousuf Amrullah Karmustaji 51%
· Isam Jamil Samour 49%
OPERATIONS
Activities: Engaged in the wholesale and retail of auto spare parts and components,
batteries, tyres and rims.
Import Countries: Japan, France, Germany and the United States of
America.
Operating Trend: Steady
Subject has a workforce of 4 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 12,300,000 UAE Dh
12,800,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
Abu Dhabi Commercial Bank
Al
Rigga Road
PO Box : 5550
Dubai
Tel : (971-4) 2958888 / 3228141
Fax : (971-4) 2959310 / 3279632
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.
Please note that the correct spelling of the subject’s name is “Lemoge
Trading LLC” and not “Limouj Trading LLC” as requested.
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%)