MIRA
INFORM REPORT
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Report Date : |
24.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
OASIS IMPEX LLC |
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Registered Office : |
Abdur Rahim
Abulghzouz Al Zarooni Building, Flat No. 206, Al Buteen Street, Al Ras,
Deira, PO Box 39019, 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 : |
02.01.1984 |
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Com. Reg. No.: |
60023, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of Perfumes and Cosmetics |
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 : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : OASIS IMPEX LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 2nd January 1984
Commercial Registration Number : 60023, Dubai
Trade Licence Number : 200505
Chamber Membership Number : 11273
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 8
Activities : Import and distribution of perfumes and cosmetics
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
OASIS IMPEX LLC
ADDRESS
Registered & Physical Address
Building : Abdur Rahim Abulghzouz Al Zarooni
Building, Flat No. 206
Street : Al Buteen Street
Area : Al Ras, Deira
PO Box : 39019
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2253193 / 2253817
Facsimile : (971-4) 2253451
Mobile : (971-50) 5581124
Email : oasisllc@emirates.net.ae
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
·
Natish Agarwal Nepalese Managing Director
·
Ismail Mohamed
Musabeh Ahmed Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 2nd
January 1984
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 60023, Dubai
Trade Licence No. : 200505
(Expires 24/12/2008)
Chamber Member No. : 11273
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
·
Ismail Mohamed
Musabeh Ahmed 51%
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Natish Agarwal 49%
OPERATIONS
Activities: Engaged in the import and distribution of
perfumes and cosmetics.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 8 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 5,200,000 UAE Dh 6,000,000
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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Emirates Bank
International Ltd
Baniyas Road
PO Box : 2923
Dubai
Tel : (971-4) 2256256 /
2256900
Fax : (971-4) 2268005 /
2267718
·
Standard
Chartered Bank
Khalid Bin Waleed Street
PO Box : 999
Dubai
Tel
: (971-4) 2520455
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
Date of
transaction June 2004 May 2006
Credit amount 100,000 150,000
Amount overdue 0 0
Payment terms 60
days 60
days
Payment Method Letters
of Credit Letters
of Credit
Paying record No
Complaints No
Complaints
Currency US
Dollars US
Dollars
GENERAL COMMENTS
Established in
1984, subject is owned and managed by Mr Natish Agarwal, a Nepalese national
who operates in Dubai under the local sponsorship of Mr Ismail Mohamed Musabeh
Ahmed.
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 deemed
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.45.83 |
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UK Pound |
1 |
Rs.84.90 |
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Euro |
1 |
Rs.67.26 |
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%)