MIRA
INFORM REPORT
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Report Date : |
21.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
S.S.A GENERAL TRADING LLC |
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Registered Office : |
210 HH Sheikha
Mariam Building, Nasir Square, Deira, PO Box
18123, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
28.06. 2007 |
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Com. Reg. No.: |
1012014, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of Timber and Wood. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 30,000 |
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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : S.S.A GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 28th June 2007
Commercial Registration Number : 1012014, Dubai
Trade Licence Number : 596968
Chamber Membership Number : 120621
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 2
Activities : Import and distribution of timber and wood.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 30,000
COMPANY NAME
S.S.A
GENERAL TRADING LLC
ADDRESS
Registered & Physical Address
Building : 210 HH Sheikha Mariam Building
Street : Nasir Square
Area : Deira
PO Box : 18123
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2347123
Facsimile : (971-4) 2347124
Email : info@ssadubai.com
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
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Arvind
Kumar Indian Managing
Director
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Abdul
Amir Shamsi Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 28th
June 2007
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1012014, Dubai
Trade Licence No. : 596968 (Expires 19/06/2008)
Chamber Member No. : 120621
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Abdul
Amir Shamsi 51%
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Arvind
Kumar 49%
AFFILIATED COMPANIES
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Peak
Star Trading Co
PO Box 41929
Dubai
OPERATIONS
Activities: Engaged in the import and distribution of
timber and wood.
Import
Countries: Malaysia and
India
Subject has a
workforce of 2 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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Habib Bank AG
Zurich
Baniyas Road
PO Box 3306
Dubai
Tel: (971-4) 2214535
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of subject’s
business development is advisable.
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%)