MIRA
INFORM REPORT
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Report Date : |
31.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL SOJA TRADING COMPANY |
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Registered Office : |
Jebel Ali Free
Zone, 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 : |
03.10. 2005 |
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Legal Form : |
Free Zone Company - FZCO |
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Line of Business : |
Import and Distribution of
General Foodstuff, Pharmaceuticals and Agricultural Products |
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$ 75,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL SOJA TRADING COMPANY
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Company - FZCO
Registration Date : 3rd October 2005
Trade Licence Number : 40829
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Total Workforce : 5
Activities : Import and distribution of general foodstuff, pharmaceuticals and agricultural products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 75,000
COMPANY NAME
AL SOJA TRADING
COMPANY
ADDRESS
Registered Address
Location : Jebel Ali Free Zone
Town : Dubai
Country : United Arab Emirates
Physical Address
Location : Al Khaleej Street
PO Box : 98402
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2727346
Facsimile : (971-4) 2727346
Mobile : (971-50) 7272651
Email : alsoja@yahoo.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 Position
·
Saif
Eddine Abdul Karim Managing
Director
·
Walid
Al Kurdi General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 3rd
October 2005
Legal Form :
Free Zone Company - FZCO
Trade Licence No. : 40829
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Name of Shareholder (s)
·
Saif
Eddine Abdul Karim
OPERATIONS
Activities: Engaged in the import
and distribution of general foodstuff, pharmaceuticals and agricultural
products.
Import
Countries: India
Operating Trend: Steady
Subject has a
workforce of 5 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 6,500,000 UAE Dh 8,100,000
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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Emirates Bank
International Ltd
Al Nasr Square
PO Box : 2923
Dubai
Tel : (971-4) 2281181
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.25 |
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UK Pound |
1 |
Rs.80.36 |
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Euro |
1 |
Rs.62.84 |
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%)