MIRA INFORM REPORT
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Report Date : |
18.04.2011 |
IDENTIFICATION DETAILS
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Name : |
DESERT FACE TRADING LLC |
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Registered Office : |
Royal Auto Centre, Shop No. 18 Al Maktoum
Hospital Road Deira |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
20.04.2003 |
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Com. Reg. No.: |
62396, |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Distributors of automotive spare parts and components. |
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 : DESERT FACE TRADING LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 20th April 2003
Commercial Registration Number : 62396,
Trade Licence Number : 544218
Chamber Membership Number : 77074
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 8
Activities : Distributors of automotive spare parts and components.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY
NAME
DESERT FACE TRADING LLC
ADDRESS
Registered & Physical
Address
Location : Royal Auto Centre, Shop No. 18
Street :
Area : Deira
PO Box :
13168
Town :
Country : United Arab Emirates
Telephone : (971-4) 2346674
Facsimile : (971-4)
2346675
Email : dftllc@emirates.net.ae
Please note that PO Box number 13188 is incorrect, the correct PO Box
number is 13168.
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
· Sukhbir Singh
Sahni Indian Managing
Director
· Ibrahim Mohsin
Ibrahim Abdullah Emirati Director
· Jag Preet - Sales
Manager
· Mohamed Shafi - Finance
Manager
LEGAL
FORM & OWNERS
Date of
Establishment : 20th
April 2003
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 62396,
Trade Licence No. : 544218 (Expires 18/04/2012)
Chamber Member No. : 77074
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s)
Percentage
· Ibrahim Mohsin
Ibrahim Abdullah 51%
· Sukhbir Singh
Sahni 49%
OPERATIONS
Activities: Engaged in the import and distribution of automotive spare parts and
components, specialising in heavy truck spare parts.
Import Countries: Europe and the
Brand Names: MANN, MERCEDES, SCANIA and VOLVO
Operating Trend: Steady
Subject has a workforce of 8 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 9,800,000 UAE Dh
10,250,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
Union National Bank
PO Box: 6811
Tel: (971-4)
2211188
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.