MIRA
INFORM REPORT
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Report Date : |
10.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
MOHSEN LINE GENERAL TRADING LLC |
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Registered Office : |
United Arab
Agencies Building, Al Rigga, Deira, PO Box
35151 & 182466, 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 : |
02.03.2005 |
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Com. Reg. No.: |
72629, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Distributors of General Foodstuff Products. |
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 : MOHSEN LINE GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 2nd March 2005
Commercial Registration Number : 72629, Dubai
Trade Licence Number : 566481
Chamber Membership Number : 95159
Issued Capital : UAE Dh 600,000
Paid up Capital : UAE Dh 600,000
Total Workforce : 23
Activities : Distributors of general foodstuff products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
MOHSEN LINE GENERAL
TRADING LLC
ADDRESS
Registered & Physical Address
Building : United Arab Agencies Building
Area : Al Rigga, Deira
PO Box : 35151 & 182466
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2288499
Facsimile : (971-4) 2288733
Email : mohsengt@emirates.net.ae
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
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Ahmed Mohsen
Sarrafan Chaharsoughi Iranian Managing Director
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Mohamed Mohsen
Sarrafan Chaharsoughi Iranian Director
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Ali Mohsen
Sarrafan Chaharsoughi Iranian Director
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Abdulaziz Abdullah
Mohamed Abdullah Ahli Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 2nd
March 2005
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 72629, Dubai
Trade Licence No. : 566481
(Expires 01/03/2009)
Chamber Member No. : 95159
Issued Capital : UAE Dh 600,000
Paid up Capital : UAE Dh 600,000
Name of Shareholder (s) Percentage
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Abdulaziz
Abdullah Mohamed Abdullah Ahli 51%
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Ahmed Mohsen
Sarrafan Chaharsoughi 17%
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Mohamed Mohsen
Sarrafan Chaharsoughi 16%
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Ali Mohsen
Sarrafan Chaharsoughi 16%
OPERATIONS
Activities: Engaged in the import and distribution of
general foodstuff products, including rice, tea and sugar.
Import
Countries: India and
Pakistan.
Operating Trend: Steady
Subject has a
workforce of 23 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 4,050,000 UAE Dh 5,700,000
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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Bank Saderat
Iran
Al Maktoum
PO Box : 4182
Dubai
Tel : (971-4) 2221161
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National Bank
of Dubai
Baniyas Street
PO
Box : 777
Dubai
Tel
: (971-4) 2222241
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
2005, subject is involved in the import and distribution of general foodstuff
products, including rice, tea and sugar.
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 company is deemed a fair trade risk. As such the above credit figure is
considered to be within subject’s financial means.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.44 |
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UK Pound |
1 |
Rs.79.62 |
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Euro |
1 |
Rs.63.48 |
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%)