MIRA
INFORM REPORT
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Report Date : |
25.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
GHULAM MOHAMED HAJI TRADING CO LLC |
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Registered Office : |
Emirates Street,
Vegetables & Fruit Market, Al Awir, PO Box 19763, 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 : |
25.10.1980 |
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Com. Reg. No.: |
43912, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Wholesale and Retail of Foodstuff and Beverages,
Specialising in Vegetables and Fruit |
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 : GHULAM MOHAMED HAJI TRADING CO LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 25th October 1980
Commercial Registration Number : 43912, Dubai
Trade Licence Number : 206913
Chamber Membership Number : 7078
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 28
Activities : Wholesale and retail of foodstuff and beverages, specialising in vegetables and fruit
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
Person Interviewed : Amir Ghulam Mohamed, Managing Director
COMPANY NAME
GHULAM MOHAMED HAJI
TRADING CO LLC
ADDRESS
Registered & Physical Address
Street : Emirates Street
Area : Vegetables & Fruit
Market, Al Awir
PO Box : 19763
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3202615
Facsimile : (971-4) 3201899
Mobile : (971-50) 6750430
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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Amir Ghulam
Mohamed Pakistan Managing Director
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Ghulam Mohamed
Haji Ismail Pakistan Director
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Rashid Ajail
Khamis Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 25th
October 1980
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 43912, Dubai
Trade Licence No. : 206913
(Expires 13/10/2008)
Chamber Member No. : 7078
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s)
·
Amir Ghulam
Mohamed
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Ghulam Mohamed
Haji Ismail
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Rashid Ajail
Khamis
OPERATIONS
Activities: Engaged in the wholesale and retail of
foodstuff and beverages, specialising in vegetables and fruit.
Import
Countries: India, Pakistan
and Africa
Operating Trend: Steady
Subject has a
workforce of 28 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
13,100,000 UAE Dh
14,500,000
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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Middle East
Bank Ltd
Arbit Tower
Beniyas Street
PO Box : 5547
Dubai
Tel : (971-4) 2220121
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
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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%)