MIRA
INFORM REPORT
|
Report Date : |
15.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ATLAS KING GENERAL TRADING LLC |
|
|
|
|
Registered Office : |
Deira Tower,
Baniyas Square, Al Rigga, PO Box
172249, Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
24.10. 2000 |
|
|
|
|
Com. Reg. No.: |
55439, Dubai |
|
|
|
|
Legal Form : |
Limited Liability Company - LLC |
|
|
|
|
Line of Business : |
Import and Distribution of General Merchandise |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 150,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 : 7
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
·
Hamid Reza
Mahmood Taqwi Iranian Managing Director
·
Gholam Reza
Perma Ali Khedyewi Nejad Iranian Director
·
Masoud Qasim
Karbaseji Iranian Director
·
Abdul Ghafour
Mehellah Jabernia Iranian Director
·
Mohamed Younus
Mohamed Yousuf Iranfez Iranian Director
·
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
·
Saeed Ateq
Saeed Obaid Bin Essa 51%
·
Hamid Reza
Mahmood Taqwi 25%
·
Gholam Reza
Perma Ali Khedyewi Nejad 8%
·
Masoud Qasim
Karbaseji 8%
·
Abdul Ghafour
Mehellah Jabernia 4%
·
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.
Import
Countries: India and China
Operating Trend: Steady
Subject has a
workforce of 7 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
·
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
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 and the above credit figure is
within subject’s financial means.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.94 |
|
UK Pound |
1 |
Rs.82.84 |
|
Euro |
1 |
Rs.65.95 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)