MIRA INFORM
REPORT
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Report Date : |
05.04.2011 |
IDENTIFICATION DETAILS
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Name : |
EUROCHEM GENERAL TRADING 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 : |
12.03.2008 |
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Com. Reg. No.: |
1025225, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of general foodstuff products, textiles,
ready made garments and petrochemicals |
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$ 300,000 |
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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 : EUROCHEM GENERAL TRADING LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 12th March 2008
Commercial Registration Number :
1025225,
Trade Licence Number : 607993
Chamber Membership Number : 130372
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 10
Activities : Distributors of general foodstuff products, textiles, ready made
garments and petrochemicals.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 300,000
Person Interviewed : Mohamed Reza Glam Ali, Director
COMPANY NAME
EUROCHEM GENERAL
TRADING LLC
company ADDRESS
Registered & Physical Address
Building : Al
Street :
Location : Al Bateen
PO Box : 241581
Town :
Country :
Telephone : (971-4) 2732478
Facsimile : (971-4) 2732473
Email : noorpetrochem@yahoo.com
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
·
Thfer
Khan Myan Khan Pakistani Managing Director
·
Shabeer
Hussain Ali Pakistani Director
·
Wsam Al
Thfr Qadry Pakistani Director
·
Roshen
Ali Art Abdulrsool Pakistani Director
·
Mohamed
Amer Saeed Qadery Pakistani Director
·
Mohamed
Reza Glam Ali Pakistani Director
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Rezwan
Hassan Yousif Ali Pakistani Director
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Obaid
Ismail Obaid Wild Al Rolah Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 12th
March 2008
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1025225,
Trade Licence No. : 607993
(Expires 09/03/2012)
Chamber Member No. : 130372
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Obaid
Ismail Obaid Wild Al Rolah 51%
·
Shabeer
Hussain Ali 8%
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Thfer
Khan Myan Khan 8%
·
Wsam Al
Thfr Qadry 8%
·
Roshen Ali
Art Abdulrsool 7%
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Mohamed
Amer Saeed Qadery 6%
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Mohamed
Reza Glam Ali 6%
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Rezwan
Hassan Yousif Ali 6%
AFFILIATED COMPANIES
·
Noor
Petrochemical
OPERATIONS
Activities: Engaged in the import and distribution of
general foodstuff products, textiles, ready made garments and petrochemicals.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a
workforce of 10 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
21,275,000 UAE Dh
25,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Mohamed Reza Glam Ali, Director
BANKERS
·
Bank
Melli
Deira Branch
PO Box: 1894
Tel: (971-4) 2268207
Fax: (971-4) 2269157 / 2267096
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
|
Currency |
Unit
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Indian Rupees |
|
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.