MIRA INFORM
REPORT
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Report Date : |
06.04.2011 |
IDENTIFICATION DETAILS
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Name : |
AL KHAIR AUTO SPARE PARTS CO LLC |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
09.12.1997 |
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Com. Reg. No.: |
50191, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of automotive spare parts and related accessories |
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$ 150,000 |
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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 KHAIR AUTO SPARE PARTS CO LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 9th December 1997
Commercial Registration Number : 50191,
Trade Licence Number : 502382
Chamber Membership Number : 46472
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 10
Activities : Distributors of automotive spare parts and related accessories.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Gazanfar Ali, Sales Manager
COMPANY NAME
AL KHAIR AUTO SPARE PARTS CO LLC
company ADDRESS
Registered & Physical Address
Building :
Street :
Area : Naif
PO Box : 39850
Town :
Country :
Telephone : (971-4) 2241479
Facsimile : (971-4) 2240731
Email : smartone@emirates.net.ae
Premises
Subject operates
from a small suite of offices, a showroom and a warehouse that are rented and
located in the Suburban Business Area of Dubai.
Branch Offices
Location Description
·
Shop No.
1 & 2 Showroom
premises
Deira
KEY PRINCIPALS
Name Nationality Position
·
Mohamed
Ali Akbar Ali Mohamed Ali Dhalla Kenyan Managing Director
·
Akbar
Ali Mohamed Ali Dhalla Kenyan Director
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Sukaina
Akbar Ali Mohamed Tanzanian Director
·
Mohamed
Obaid
·
Gazanfar
Ali - Sales
Manager
·
Raheel
Abbas - Showroom
Manager
LEGAL FORM & OWNERS
Date of Establishment : 9th
December 1997
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 50191,
Trade Licence No. : 502382
(Expires 08/12/2011)
Chamber Member No. : 46472
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder
(s) Percentage
·
Mohamed
Obaid
·
Mohamed
Ali Akbar Ali Mohamed Ali Dhalla 17%
·
Akbar
Ali Mohamed Ali Dhalla 16%
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Sukaina
Akbar Ali Mohamed 16%
OPERATIONS
Activities: Engaged in the import and distribution of automotive
spare parts and related accessories specialising in Japanese brands.
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 5,675,000 UAE Dh 6,100,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Habib
Bank Ltd
Murshid Bazaar
PO Box: 888
Tel: (971-4) 2221281
Fax: (971-4) 2284631
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
1997, subject is involved in the import and distribution of automotive spare
parts and related accessories.
Local sources
report that the subject’s operating history is clear with payment obligations met
in a generally timely manner. The financial position is satisfactory and the
company is deemed 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.44.45 |
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1 |
Rs.71.59 |
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Euro |
1 |
Rs.63.01 |
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.