MIRA
INFORM REPORT
|
Report Date : |
25.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ZENATH PAPER TRADERS LLC |
|
|
|
|
Registered Office : |
Gulf Air
Building, Salahudeen Road, Deira, PO Box
7113, Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Date of Incorporation : |
03.07.1988 |
|
|
|
|
Com. Reg. No.: |
69728, Dubai |
|
|
|
|
Legal Form : |
Limited Liability Company - LLC |
|
|
|
|
Line of Business : |
Import and Export of Waste Paper as well as Supplying Paper
and Paper Products |
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$ 500,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : ZENATH PAPER TRADERS LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 3rd July 1988
Commercial Registration Number : 69728, Dubai
Trade Licence Number : 217197
Chamber Membership Number : 14004
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 150
Activities : Import and export of waste paper as well as supplying paper and paper
products
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 500,000
COMPANY NAME
ZENATH PAPER
TRADERS LLC
ADDRESS
Registered & Physical Address
Building : Gulf Air Building
Street : Salahudeen Road
Area : Deira
PO Box : 7113
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2713006
Facsimile : (971-4) 2713003
Email : zenath@etaascon.com
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Dubai.
Branch Office
(s)
Location Description
·
PO Box 3532 Rented
sales office
Abu Dhabi
Tel: (971-2) 5541570
Fax: (971-2) 5541580
KEY PRINCIPALS
Name Nationality Position
·
Ahmad Abdullah
Ahmad Al Ghurair Emirati Managing Director
·
Khalid
Abdullah Ahmad Al Ghurair Emirati Director
·
Raja Mohamed - Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 3rd
July 1988
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 69728, Dubai
Trade Licence No. : 217197 (Expires
29/06/2009)
Chamber Member No. : 14004
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
·
Amana
Investment Limited 48%
Hong Kong
·
Ahmad Abdullah
Ahmad Al Ghurair 45%
·
Khalid Abdullah
Ahmad Al Ghurair 7%
OPERATIONS
Activities: Engaged in the import and export of waste
paper as well as supplying paper and paper products.
Import
Countries: Yemen, Kuwait,
Lebanon, Egypt and Iran
Export
Countries: India. Subject exports
118,000 metric tonnes of waste paper per annum.
Subject has a
workforce of approximately 150 employees.
FINANCIAL DATA
Companies
registered in Dubai, United Arab Emirates are not legally required to make
their accounts public and no financial information was released by the company
or submitted by outside sources.
BANKERS
·
Mashreq Bank
Plc
Deira Branch
PO Box : 1250
Dubai
Tel : (971-4) 2229131 / 2221134
Fax : (971-4) 2233784
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.46.25 |
|
UK Pound |
1 |
Rs.85.92 |
|
Euro |
1 |
Rs.68.11 |
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%)