MIRA
INFORM REPORT
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Report Date : |
14.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
ATLAS KING GENERAL TRADING LLC |
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Registered Office : |
Deira Tower,
Baniyas Square, Al Rigga, PO Box
172249, 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 : |
24.10. 2000 |
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Com. Reg. No.: |
55439, Dubai |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Importer and Distributor 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 : ATLAS KING GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 24th October 2000
Commercial Registration Number : 55439, Dubai
Trade Licence Number : 522024
Chamber Membership Number : 60875
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 9
Activities : Import and distribution of general merchandise.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
ATLAS KING GENERAL
TRADING LLC
ADDRESS
Registered & Physical Address
Building : Deira Tower
Street : Baniyas Square
Area : Al Rigga
PO Box : 172249
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2974576 / 3987424
Facsimile : (971-4) 2974869
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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Hamid Reza
Mahmood Taqwi Iranian Managing Director
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Gholam Reza
Perma Ali Khedyewi Nejad Iranian Director
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Masoud Qasim
Karbaseji Iranian Director
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Abdul Ghafour
Mehellah Jabernia Iranian Director
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Mohamed Younus
Mohamed Yousuf Iranfez Iranian Director
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Saeed Ateq
Saeed Obaid Bin Essa Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 24th
October 2000
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 55439, Dubai
Trade Licence No. : 522024
(Expires 23/10/2008)
Chamber Member No. : 60875
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Saeed Ateq
Saeed Obaid Bin Essa 51%
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Hamid Reza
Mahmood Taqwi 25%
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Gholam Reza
Perma Ali Khedyewi Nejad 8%
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Masoud Qasim
Karbaseji 8%
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Abdul Ghafour
Mehellah Jabernia 4%
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Mohamed Younus
Mohamed Yousuf Iranfez 4%
OPERATIONS
Activities: Subject operates with a general trade licence
and is engaged in the import and distribution of general
merchandise, including
foodstuffs, ready made garments, footwear, perfumes and cosmetics and
jewellery.
Import
Countries: India and China
Operating Trend: Steady
Subject has a
workforce of 9 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 8,750,000 UAE Dh 9,300,000
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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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
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the business is deemed 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.47.71 |
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UK Pound |
1 |
Rs.83.30 |
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Euro |
1 |
Rs.65.12 |
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%)