MIRA
INFORM REPORT
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Report Date : |
07.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
TEEJAN GENERAL TRADING LLC |
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Registered Office : |
Khansaheb
Warehouse, Al Qusais Street, Al Qusais Industrial Area, PO Box 60970 &
232054, 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 : |
03.08. 1992 |
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Com. Reg. No.: |
25974, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of Building and Construction
Materials |
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 : TEEJAN GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 3rd August 1992
Commercial Registration Number : 25974, Dubai
Trade Licence Number : 228614
Chamber Membership Number : 24728
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Total Workforce : 6
Activities : Import and distribution of building and construction materials
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
TEEJAN GENERAL
TRADING LLC
ADDRESS
Registered & Physical Address
Building : Khansaheb Warehouse
Street : Al Qusais Street
Area : Al Qusais Industrial Area
PO Box : 60970 & 232054
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2674367 / 2672124
Facsimile : (971-4) 2671518 / 2672123
Email : teejante@emirates.net.ae
Premises
Subject operates from
a small suite of offices and a warehouse that are rented and located in the
Industrial Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Jamal Majed
Khalfan Bin Theniya Emirati Managing
Director
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Ameer Ahmed
Padiyath Manappat Indian General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 3rd
August 1992
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 25974, Dubai
Trade Licence No. : 228614
(Expires 28/07/2010)
Chamber Member No. : 24728
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Name of Shareholder (s) Percentage
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Jamal Majed
Khalfan Bin Theniya 51%
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Teejan Trading
& Contracting LLC 49%
Oman
OPERATIONS
Activities: Engaged in the import and distribution of
building and construction materials, as well as metal and steel products.
Import
Countries: Oman, China,
India and the United States of America.
Operating Trend: Steady
Subject has a
workforce of 6 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:
Total Sales UAE Dh
10,400,000 UAE Dh
11,285,000
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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Mashreq Bank
Plc
Foreign Trade Centre
Al Boorj Avenue
PO Box : 9271
Sharjah
Tel : (971-6) 5351366 / 5354873
Fax : (971-6) 5372903
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National Bank
of Ras Al Khaimah
Al Maktoum Street
PO Box : 1531
Dubai
Tel : (971-4) 2226291
Fax : (971-4) 2281312
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%)