MIRA
INFORM REPORT
|
Report Date : |
27.03.2008 |
IDENTIFICATION
DETAILS
|
Name : |
N S R CARGO SERVICES LLC |
|
|
|
|
Registered Office : |
Ali Fatahulla Ahly Building, Office No. 8, Al Shamal Street, Deira, PO
Box 171104, Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
14.07.2002 |
|
|
|
|
Com. Reg. No.: |
68918, Dubai |
|
|
|
|
Legal Form : |
Limited Liability
Company - LLC |
|
|
|
|
Line of Business : |
Provision of
Clearing and Forwarding Services, as well as Air, Sea,
and Land Transport |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 200,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : N S R CARGO SERVICES
LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 14th
July 2002
Commercial Registration
Number : 68918, Dubai
Trade Licence Number : 559480
Chamber Membership
Number : 89366
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 20
Activities :
Provision of clearing and forwarding services, as well as air, sea, and land transport
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 200,000
COMPANY NAME
N S R CARGO SERVICES LLC
ADDRESS
Registered & Physical Address
Building : Ali
Fatahulla Ahly Building, Office No. 8
Street : Al Shamal
Street
Area : Deira
PO Box : 171104
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2350308
/ 2257705
Facsimile : (971-4)
2350309
Mobile : (971-50)
8723338
Email : nsrcs@emirates.net.ae
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
· Sayed Shorab Indian Managing
Director
· Nasser Mohamed
Juma Emirati Director
· Gamil Sheikh - Operations
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 14th
July 2002
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 68918, Dubai
Trade Licence No. : 559480 (Expires 13/07/2008)
Chamber Member No. : 89366
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Nasser Mohamed
Juma 51%
· Sayed Shorab 49%
AFFILIATED COMPANIES
· NSR
Pvt Ltd
Mumbai
India
Tel: (91-22) 3414675
OPERATIONS
Activities: Engaged in the provision of clearing and forwarding services, as well
as air, sea, and land transport
services.
Import Countries: Europe, India and China.
Operating Trend: Steady
Subject has a workforce of 20 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 8,000,000 UAE Dh
10,000,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
National Bank of Dubai
Baniyas Street
PO Box
777
Dubai
Tel:
(971-4) 2222241
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 2002, subject is owned and managed by Mr Sayed Shorab who
is an Indian national operating in Dubai under the local sponsorship of Mr
Nasser Mohamed Juma.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the company is deemed a fair trade risk.
The financial information contained in this report has been confirmed by
Mr Gamil Sheikh – Operations Manager.
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)