MIRA
INFORM REPORT
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Report Date : |
08.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
INTRADE GENERAL TRADING LLC |
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Registered Office : |
Raeis Hassan
Saadi Building, Al Mussalla Street, Al Souq Al Kabir, PO Box 73090, 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 : |
19.02.1996 |
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Com. Reg. No.: |
66364, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of General Merchandise |
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 : INTRADE GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 19th February 1996
Commercial Registration Number : 66364, Dubai
Trade Licence Number : 240817
Chamber Membership Number : 37455
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Total Workforce : 6
Activities : Import and distribution of general merchandise
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
INTRADE GENERAL
TRADING LLC
ADDRESS
Registered & Physical Address
Building : Raeis Hassan Saadi Building
Street : Al Mussalla Street
Area : Al Souq Al Kabir
PO Box : 73090
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3902342 / 3902343
Facsimile : (971-4) 3902342 / 3902344 / 3904689
Mobile : (971-50) 4245497
Email : komobile@emirates.net.ae
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
·
Mohamed Bin
Ayed Bin Abdullah Al Qahtani Saudi Managing
Director
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Turki Mohsen
Ali Mohamed Al Safi Emirati Director
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Shahid Mahmood - General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 19th
February 1996
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 66364, Dubai
Trade Licence No. : 240817
Chamber Member No. : 37455
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Name of Shareholder (s) Percentage
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Turki Mohsen
Ali Mohamed Al Safi 51%
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Mohamed Bin
Ayed Bin Abdullah Al Qahtani 49%
OPERATIONS
Activities: Engaged in the import and distribution of
general merchandise, including steel scrap, used cars, damaged cars, heavy
machinery, telecommunications equipment and general foodstuff.
Import
Countries: Japan, Germany
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
15,500,000 UAE Dh
17,000,000
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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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%)