MIRA
INFORM REPORT
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Report Date : |
02.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
SEDANA TRADING |
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Registered Office : |
Green
Belt, Industrial Area No. 2, PO Box 1919, Sharjah |
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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 : |
17.02.1976 |
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Com. Reg. No.: |
634, Sharjah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and Retail of Tools and
Hand Tools, as well as Industrial Equipment and Machinery |
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$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : SEDANA TRADING
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 17th February 1976
Commercial Registration Number : 634, Sharjah
Trade Licence Number : 1916
Chamber Membership Number : 869
Invested Capital : UAE Dh 2,000,000
Total Workforce : 20
Activities :
Wholesale and retail of tools and hand tools, as well
as industrial equipment and machinery
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
COMPANY NAME
SEDANA
TRADING
ADDRESS
Registered & Physical Address
Street : Green
Belt
Area : Industrial
Area No. 2
PO Box : 1919
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5330551 / 5331194 / 5337282
Facsimile : (971-6) 5337368
Email : sedana@emirates.net.ae
Premises
Subject operates
from a medium sized suite of offices, a warehouse and a showroom that are rented
and located in the Industrial Area of Sharjah.
Branch Office
(s)
Location Description
·
Al
Rashidiya Area Rented
office & warehouse
Dubai
Tel: (971-4) 2895666
Fax: (971-4)
2895600
·
PO Box 46861 Rented
sales office
Abu Dhabi
Tel: (971-2) 4435112
Fax: (971-2) 4434104
KEY PRINCIPALS
Name Nationality Position
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Zayed
Elias Saud Lebanese Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 17th
February 1976
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 634, Sharjah
Trade Licence No. : 1916
(Expires 06/09/2009)
Chamber Member No. : 869
Invested Capital
: UAE Dh 2,000,000
Mr Zayed Elias Saud is the sole proprietor of the
business. Mr Zayed Elias Saud is a Lebanese
businessman who operates in Sharjah under the local sponsorship of Mr Salem
Matar Salem.
OPERATIONS
Activities: Engaged in the wholesale and retail of tools and hand tools, as well as industrial equipment
and
machinery.
Import
Countries: Germany, United
States of America, India and China
Operating Trend: Steady
Subject has a
workforce of 20 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
17,900,000 UAE Dh
20,450,000
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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Arab Bank Plc
PO Box : 130
Sharjah
Tel : (971-6) 5618999
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 business 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.44.21 |
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UK Pound |
1 |
Rs.79.76 |
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Euro |
1 |
Rs.64.72 |
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%)