MIRA INFORM REPORT
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Report Date : |
18.04.2011 |
IDENTIFICATION DETAILS
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Name : |
LIFE LIGHT AUTO SPARE PARTS TRADING 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 : |
28.11.2001 |
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Com. Reg. No.: |
58001, |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Distributors of automotive spare parts, tyres, hardware and tools. |
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 : LIFE LIGHT AUTO SPARE PARTS TRADING LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 28th November 2001
Commercial Registration Number : 58001,
Trade Licence Number : 530576
Chamber Membership Number : 66089
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 6
Activities : Distributors of automotive spare parts, tyres, hardware and tools.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY
NAME
LIFE LIGHT AUTO SPARE PARTS TRADING LLC
ADDRESS
Registered & Physical
Address
Building :
Street :
Area : Al Rigga
PO Box :
41550
Town :
Country :
Telephone : (971-4) 2271216
/ 2271579
Facsimile : (971-4)
2271320
Email : noorhyat@emirates.net.ae
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
· Ali Ghazanfar
Mokhtar Zadeh Ardestani Iranian Managing
Director
· Mahdi Ghazanfar
Mokhtar Zadeh Ardestani Iranian Director
· Abdul Karim Ismail
Abdul Karim Al Fahimi Emirati Director
LEGAL
FORM & OWNERS
Date of
Establishment : 28th
November 2001
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 58001,
Trade Licence No. : 530576 (Expires 25/11/2011)
Chamber Member No. : 66089
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Abdul Karim Ismail
Abdul Karim Al Fahimi 51%
· Ali Ghazanfar Mokhtar
Zadeh Ardestani 25%
· Mahdi Ghazanfar
Mokhtar Zadeh Ardestani 24%
OPERATIONS
Activities: Engaged in the import and distribution of automotive spare parts,
tyres, hardware and tools.
Import Countries: Europe and the
Operating Trend: Steady
Subject has a workforce of 6 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 8,700,000 UAE Dh
9,350,000
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.