MIRA
INFORM REPORT
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Report Date : |
22.10.2008 |
IDENTIFICATION DETAILS
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Name : |
JASHAN TRADING LLC |
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Registered Office : |
Abdullah
Abdulaziz Az Zarooni Building, Al Ras Street, Al Ras, Deira, PO Box 27838,
Dubai |
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Country : |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
16.10. 2001 |
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Com. Reg. No.: |
57681, |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of Vegetables, Cereals and Grain |
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 : JASHAN TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 16th October 2001
Commercial Registration Number : 57681, Dubai
Trade Licence Number : 529770
Chamber Membership Number : 65532
Issued Capital : UAE Dh 600,000
Paid up Capital : UAE Dh 600,000
Total Workforce : 6
Activities : Import and distribution of vegetables, cereals and grain
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
JASHAN TRADING LLC
ADDRESS
Registered & Physical Address
Building : Abdullah Abdulaziz Az Zarooni
Building
Street : Al Ras Street
Area : Al Ras, Deira
PO Box : 27838
Town : Dubai
Country :
United Arab Emirates
Telephone : (971-4) 2257736
Facsimile : (971-4) 2258836
Email : jashantc@emirates.net.ae
Premises
Subject operates from
a small suite of offices and a warehouse that are rented and located in the
Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
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Maqbool
Ahmed Tariq Bin Mohamed Din Pakistani Managing Director
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Rajneesh
Aggarwal Indian Director
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Mohamed
Din Bin Mohamed Ibrahim Pakistani Director
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Redha
Ghuloom Hussain Ali Khoory Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 16th
October 2001
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 57681, Dubai
Trade Licence No. : 529770
(Expires 14/10/2009)
Chamber Member No. : 65532
Issued Capital : UAE Dh 600,000
Paid up Capital : UAE Dh 600,000
Name of Shareholder (s) Percentage
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Redha
Ghuloom Hussain Ali Khoory 51%
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Rajneesh
Aggarwal 25%
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Maqbool
Ahmed Tariq Bin Mohamed Din 12%
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Mohamed
Din Bin Mohamed Ibrahim 12%
OPERATIONS
Activities: Engaged in the import and distribution of
vegetables, cereals and grain.
Import
Countries: Europe and GCC
countries
Operating Trend: Steady
Subject has a
workforce of 6 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 7,000,000 UAE Dh 7,500,000
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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Commercial
Bank of Dubai
Baniyas Street
PO Box 1709
Deira
Dubai
Tel: (971-4) 2227121 / 2253222
Fax: (971-4) 2220943 / 2254565
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction January
2006
Credit amount 150,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
GENERAL COMMENTS
Established in
2001, subject is involved in the import and distribution of vegetables, cereals
and grain.
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.49.79 |
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UK Pound |
1 |
Rs.81.27 |
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Euro |
1 |
Rs.63.91 |
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%)