MIRA
INFORM REPORT
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Report Date : |
21.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL SAHARA TRADING CO LLC |
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Registered Office : |
Al Maktoum Building, Naif Street, Al Daghaya, Deira, PO Box 51638, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
25.10.1988 |
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Com. Reg. No.: |
43732, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Wholesale and Retail of Carpets, Decorative Materials, Partition Walls and Ceilings, Wall Paper, Curtains and Upholstery Fabrics |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL SAHARA TRADING CO LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 25th October 1988
Commercial Registration Number : 43732, Dubai
Trade Licence Number : 217838
Chamber Membership Number : 6258
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 40
Activities : Wholesale and retail of carpets, decorative materials, partition walls and
ceilings, wall paper, curtains and upholstery fabrics
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
COMPANY NAME
AL SAHARA TRADING CO LLC
ADDRESS
Registered & Physical Address
Building : Al Maktoum
Building
Street : Naif Street
Area : Al Daghaya,
Deira
PO Box : 51638
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2275280
Facsimile : (971-4)
2210660
Email : alsahara@emirates.net.ae
Premises
Subject operates from a medium sized suite of offices and a showroom
that are rented and located in the Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
· Kalwani Kanayalal
Dalumal Indian Managing Director
· Avinash Kanayalal
Kalwani Indian Director
· Mohamed Ali Saleh
Ali Emirati Director
LEGAL FORM & OWNERS
Date of
Establishment : 25th
October 1988
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 43732, Dubai
Trade Licence No. : 217838 (Expires 08/10/2010)
Chamber Member No. : 6258
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Mohamed Ali Saleh
Ali 51%
· Kalwani Kanayalal
Dalumal 25%
· Avinash Kanayalal
Kalwani 24%
OPERATIONS
Activities: Engaged in the wholesale and retail of carpets, decorative materials,
partition walls and ceilings, wall
paper, curtains and upholstery fabrics.
Import Countries: Belgium, Pakistan, and India.
Subject has a workforce of 40 employees.
FINANCIAL DATA
Companies registered in Dubai, United Arab Emirates are not legally
required to make their accounts public and no financial information was released
by the company or submitted by outside sources.
BANKERS
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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
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%)