MIRA INFORM
REPORT
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Report Date : |
11.04.2011 |
IDENTIFICATION DETAILS
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Name : |
AL ASHEERA TRADING 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 : |
14.07.1999 |
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Com. Reg. No.: |
53097, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesale and retail
of air conditioning equipment, audio-visual equipment, computer and
photographic equipment, light fittings and fixtures, and household
appliances. |
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$ 100,000 |
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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 ASHEERA TRADING CO LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 14th July 1999
Commercial Registration Number : 53097,
Trade Licence Number : 513013
Chamber Membership Number : 55419
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 10
Activities : Wholesale and retail of air conditioning equipment, audio-visual
equipment, computer and photographic equipment, light fittings and fixtures, and household appliances.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
COMPANY
NAME
AL ASHEERA TRADING CO LLC
company
ADDRESS
Registered & Physical
Address
Building :
Area : Ayal Nasser, Deira
PO Box : 42834
Town :
Country :
Telephone : (971-4) 3593461
Facsimile : (971-4) 3593461
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
·
Khushal
Atumal Rangnani Indian Managing
Director
·
Bhavna
Khoshal Rangnani Indian Director
·
Nesha
Khoshal Rangnani Indian Director
·
Faisal
Juma Darwish
LEGAL
FORM & OWNERS
Date of Establishment : 14th
July 1999
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 53097,
Trade Licence No. : 513013
(Expires 12/07/2011)
Chamber Member No. : 55419
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
·
Faisal
Juma Darwish
·
Khushal
Atumal Rangnani 25%
·
Bhavna
Khoshal Rangnani 12%
·
Nesha
Khoshal Rangnani 12%
OPERATIONS
Activities: Engaged in the wholesale and retail of air
conditioning equipment, audio-visual equipment, computer and photographic
equipment, light fittings and fixtures, and household appliances.
Import
Countries:
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 Revenue UAE Dh 10,800,000 UAE Dh 11,500,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Habib
Bank Ltd
Trade Service Centre
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
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.44.04 |
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1 |
Rs.72.20 |
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Euro |
1 |
Rs.63.40 |
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.