MIRA INFORM REPORT
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Report Date : |
18.04.2011 |
IDENTIFICATION DETAILS
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Name : |
BLACK BULLS 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 : |
22.02.2006 |
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Com. Reg. No.: |
78874, |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Wholesale and retail of automotive spare parts and lubricants. |
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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UAE |
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 : BLACK BULLS CO LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 22nd February 2006
Commercial Registration Number : 78874,
Trade Licence Number : 578105
Chamber Membership Number : 104914
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 5
Activities : Wholesale and retail of automotive spare parts and lubricants.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY
NAME
BLACK BULLS CO LLC
ADDRESS
Registered & Physical
Address
Building :
Street :
Area : Deira
PO Box :
122806
Town :
Country :
Telephone : (971-4) 2247640
/ 2238113
Facsimile : (971-4)
2247342 / 2238961
Email : bbcl@eim.ae
/ info@blackbulls.com
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Dubai.
KEY
PRINCIPALS
Name Nationality Position
· Naveen Nareshwar
Singh Indian Managing
Director
· Harpreet Sachar
Saranjith Singh Sethi Indian Director
· Ali Ahmed Ali
Abdullah Sherook Emirati Director
LEGAL
FORM & OWNERS
Date of
Establishment : 22nd
February 2006
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 78874,
Trade Licence No. : 578105 (Expires 21/02/2012)
Chamber Member No. : 104914
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Ali Ahmed Ali
Abdullah Sherook 51%
· Naveen Nareshwar
Singh 25%
· Harpreet Sachar
Saranjith Singh Sethi 24%
OPERATIONS
Activities: Engaged in the wholesale and retail of automotive spare parts and
lubricants.
Import Countries: Europe and the
Operating Trend: Steady
Subject has a workforce of 5 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 7,600,000 UAE Dh
8,250,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
Commercial Bank of
Deira
PO Box: 1709
Tel: (971-4)
2227121 / 2253222
Fax: (971-4)
2220943 / 2254565
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.44.52 |
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1 |
Rs.72.72 |
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Euro |
1 |
Rs.64.41 |
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 |
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NB |
New Business |
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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.