MIRA
INFORM REPORT
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Report Date : |
22.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
KHATEREH GENERAL TRADING LLC |
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Registered Office : |
Creek
Tower (Bourj Al Khour Building),
Binyas Street, PO Box 181485 & 36771,
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 : |
25.04. 2000 |
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Com. Reg. No.: |
1010412, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Wholesale and Retail 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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : KHATEREH GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 25th April 2000
Commercial Registration Number : 1010412, Dubai
Trade Licence Number : 518021
Chamber Membership Number : 58555
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Total Workforce : 6
Activities : Wholesale and retail of general foodstuff products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
KHATEREH GENERAL
TRADING LLC
ADDRESS
Registered & Physical Address
Building : Creek
Tower (Bourj Al Khour Building)
Street : Binyas
Street
PO Box : 181485 & 36771
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2238444
Facsimile : (971-4) 2233800
Email : khaterahdxb@yahoo.com
Premises
Subject operates
from a small suite of offices and a shop that are rented and located in the Central
Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Mohamed
Hussain Haji Hashimi Iranian Managing Director
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Suhaila Raheem
Qasimi Iranian Director
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Abdullah
Mohamed Abdullah Ahli Emirati Director
·
Ali
Reda Mostafa - Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 25th
April 2000
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1010412,
Dubai
Trade Licence No. : 518021
(Expires 21/04/2009)
Chamber Member No. : 58555
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Name of Shareholder (s) Percentage
·
Abdullah
Mohamed Abdullah Ahli 51%
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Mohamed
Hussain Haji Hashimi 25%
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Suhaila Raheem
Qasimi 24%
AFFILIATED COMPANIES
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Panda
Foodstuff Trading
PO Box 36771
Dubai
Tel: (971-4) 2238444
OPERATIONS
Activities: Engaged in the wholesale and retail of general foodstuff products, specialising in golden rice.
Import
Countries: India, China and
Vietnam
Brand Names: KHATEREH
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
10,000,000 UAE Dh
12,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Ali Reda Mostafa,
Commercial Manager.
BANKERS
·
Bank Melli
Iran
Deira Branch
PO Box : 1894
Dubai
Tel : (971-4) 2268207
Fax : (971-4) 2269157 / 2267096
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Khatereh General
Trading LLC was established in April 2000 and specialises in the wholesale and
retail of general foodstuff products under the brand
name of “Khatereh”.
During the course
of this investigation nothing detrimental was uncovered regarding the manner in
which payment obligations are fulfilled. The operating history is clear and the
financial situation is satisfactory. As such we are of the opinion that the
subject is a fair trade risk and the above credit figure is 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.45.40 |
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UK Pound |
1 |
Rs.83.15 |
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Euro |
1 |
Rs.65.74 |
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%)