MIRA
INFORM REPORT
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Report Date : |
14.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHYAMJI GENERAL TRADING LLC |
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Registered Office : |
Ali Abdur Rahman
Younis Building, Shop No. 1, Naif Road, Al Daghaya, Deira, PO Box 43292, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
20.02. 2005 |
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Com. Reg. No.: |
72344, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Subject Operates with
a General Trade Licence and is engaged in the Wholesale and Retail 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$ 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 : SHYAMJI GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 20th February 2005
Commercial Registration Number : 72344, Dubai
Trade Licence Number : 565998
Chamber Membership Number : 94755
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 4
Activities : Subject operates with a general trade licence
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
COMPANY NAME
SHYAMJI GENERAL
TRADING LLC
ADDRESS
Registered & Physical Address
Building : Ali Abdur Rahman Younis Building, Shop No. 1
Street : Naif Road
Area : Al Daghaya, Deira
PO Box : 43292
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2271740
Facsimile : (971-4) 2271690
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
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Harender Jet
Singh Kalara Indian Managing
Director
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Saeed Mohamed
Khurshid Al Mutawa Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 20th
February 2005
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 72344, Dubai
Trade Licence No. : 565998
(Expires 19/02/2009)
Chamber Member No. : 94755
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Saeed Mohamed
Khurshid Al Mutawa 51%
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Harender Jet
Singh Kalara 49%
OPERATIONS
Activities: Subject operates with a general trade
licence and is engaged in the wholesale and retail of general
merchandise.
Import
Countries: Singapore,
Taiwan and India.
Subject has a
workforce of 4 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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Commercial
Bank of Dubai
Baniyas Street
Deira
PO Box : 1709
Dubai
Tel : (971-4) 2227121 / 2253222
Fax : (971-4) 2220943 / 2254565
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 and the above credit figure is
within subject’s financial means.
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%)