MIRA INFORM
REPORT
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Report Date : |
02.04.2011 |
IDENTIFICATION DETAILS
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Name : |
AL QUDRA GENERAL TRADING CO LLC |
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Registered Office : |
Al |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
28.02.2000 |
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Com. Reg. No.: |
54127, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
General Trade Licence |
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 |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUMMARY
Company Name : AL QUDRA GENERAL TRADING CO LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 28th February 2000
Commercial Registration Number : 54127,
Trade Licence Number : 516847
Chamber Membership Number : 58231
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Total Workforce : 6
Activities : General trade licence.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
Person Interviewed : Ihsan Mohamed Ghulam Hussain Abbasi, General Manager
COMPANY NAME
AL QUDRA GENERAL TRADING CO LLC
company ADDRESS
Registered & Physical Address
Building : Al
Street :
Area : Al Bateen, Deira, Al Ras
PO Box : 13395
Town :
Country :
Telephone : (971-4) 2290299 / 2353096
Facsimile : (971-4) 2290199 / 2353098
Email : qudra@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
·
Mohamed
Ghulam Hussain Abbasi Iranian Managing
Director
·
Ali
Reza Ghulam Hussain Abbasi Iranian Director
·
Abdullah
Redhwan Ibrahim Al Khalsan Emirati Director
·
Ihsan
Mohamed Ghulam Hussain Abbasi Iranian General
Manager
·
Ali Bangash - Commercial
Manager
·
Mohamed Gamali - Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 28th
February 2000
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 54127,
Trade Licence No. : 516847
(Expires 25/02/2012)
Chamber Member No. : 58231
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Name of Shareholder
(s) Percentage
·
Abdullah
Redhwan Ibrahim Al Khalsan 51%
·
Mohamed
Ghulam Hussain Abbasi 25%
·
Ali
Reza Ghulam Hussain Abbasi 24%
OPERATIONS
Activities: Subject holds a general trade licence, enabling
them to distribute general merchandise, including general foodstuff products, computer equipment and precious stones.
Import
Countries: Europe and the
International
Suppliers:
·
Tune5
·
Net
PC
Operating Trend: Steady
Subject has a
workforce of 6 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales UAE Dh 9,000,000 UAE Dh 9,600,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
National
Bank of
PO Box: 777
Tel:
(971-4) 2222241
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.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.65 |
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1 |
Rs.71.93 |
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Euro |
1 |
Rs.63.24 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.