MIRA
INFORM REPORT
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Report Date : |
25.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
ARRMAN WORLD TRADING LLC |
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Registered Office : |
Al Karama Street,
Al Karama, PO Box 120068, 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 : |
13.04.1997 |
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Com. Reg. No.: |
48854, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of General Foodstuff Products and
Auto Spare Parts |
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 : ARRMAN WORLD TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 13th April 1997
Commercial Registration Number : 48854, Dubai
Trade Licence Number : 246120
Chamber Membership Number : 41480
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 25
Activities : Import and distribution of general foodstuff products and auto spare parts
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
ARRMAN WORLD
TRADING LLC
ADDRESS
Registered & Physical Address
Street : Al Karama Street
Area : Al Karama
PO Box : 120068
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3353181
Facsimile : (971-4) 3353183
Email : arrmanworld@emirates.net.ae
Premises
Subject operates from
a medium sized 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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Jajan Kakar
Anil Kakar Indian Managing Director
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Sanjiv Kakar
Akhil Kakar Indian Director
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Anil Kakar Indian Director
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Mohamed
Abdullah Mohamed Sharif Al Ali Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 13th
April 1997
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 48854, Dubai
Trade Licence No. : 246120
(Expires 12/04/2009)
Chamber Member No. : 41480
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Mohamed
Abdullah Mohamed Sharif Al Ali 51%
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Jajan Kakar
Anil Kakar 24%
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Sanjiv Kakar
Akhil Kakar 24%
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Anil Kakar 1%
OPERATIONS
Activities: Engaged in the import and distribution of
general foodstuff products specialising in rice. The company also deals in auto
spare parts.
Import Countries: India and China
Operating Trend: Steady
Subject has a
workforce of 25 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
13,800,000 UAE Dh
15,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Sanjiv Kakar Akhil Kakar, Director
BANKERS
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Commercial
Bank of Dubai
Souq Al Wasl Branch
PO Box : 2668
Dubai
Tel : (971-4) 2276111
Fax : (971-4) 2273703
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
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.46.25 |
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UK Pound |
1 |
Rs.85.92 |
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Euro |
1 |
Rs.68.11 |
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%)