MIRA
INFORM REPORT
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Report Date : |
14.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL QUDRA GENERAL TRADING CO LLC |
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Registered Office : |
Commercial Bank
Building, 9th Floor, 903 Baniyas Street, Al Bateen, Deira, PO Box
13395, 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 : |
28.02. 2000 |
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Com. Reg. No.: |
54127, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and
Distribution of Computer
Equipment, Communication and Media
Products |
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 : AL QUDRA GENERAL TRADING CO LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 28th February 2000
Commercial Registration Number : 54127, Dubai
Trade Licence Number : 516847
Chamber Membership Number : 58231
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh
3,000,000
Total Workforce :
8
Activities :
Import and distribution of computer
equipment, communication and media
products
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 200,000
COMPANY NAME
AL QUDRA GENERAL
TRADING CO LLC
ADDRESS
Registered & Physical Address
Building : Commercial Bank Building, 9th
Floor
Street : 903 Baniyas Street
Area : Al Bateen, Deira
PO Box : 13395
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2290299 / 2353096
Facsimile : (971-4) 2290199 / 2353098
Email : quadra@emirates.net.ae
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Branch Office (s)
Location Description
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PO Box: 42612 Rented
sales office
Corniche Street
Abu Dhabi
Tel: (971-2) 6816070
Fax: (971-2) 6813134
KEY PRINCIPALS
Name Nationality Position
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Mohamed Ghulam
Hussain Abbasi Iranian Managing
Director
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Ali Reza
Ghulam Hussain Abbasi Iranian Director
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Abdullah Redhwan
Ibrahim Al Khalsan Emirati Director
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Ali Bangash - Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 28th
February 2000
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 54127, Dubai
Trade Licence No. : 516847
(Expires 25/02/2009)
Chamber Member No. : 58231
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Name of Shareholder (s) Percentage
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Abdullah
Redhwan Ibrahim Al Khalsan 51%
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Mohamed Ghulam
Hussain Abbasi
25%
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Ali Reza
Ghulam Hussain Abbasi 24%
OPERATIONS
Activities: Engaged in the import and distribution of computer equipment, communication and media products,
include LCD, net station, digital media player, digital frames as well as MP3
and MP4.
Import
Countries: Europe and the
Far East.
International
Suppliers:
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Tune5 Taiwan
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Net PC Taiwan
Operating Trend: Steady
Subject has a
workforce of 8 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 4,220,000 UAE Dh 7,100,000
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 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 2000,
subject is owned and managed by Mr Mohamed Ghulam Hussain Abbasi and Mr Ali
Reza Ghulam Hussain Abbasi, who are Iranian nationals operating in Dubai under
the local sponsorship of Mr Abdullah Redhwan Ibrahim Al Khalsan.
Local sources
report that subject meets its payments in a timely manner and 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%)