MIRA INFORM REPORT
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Report Date : |
18.04.2011 |
IDENTIFICATION DETAILS
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Name : |
SUPREME AUTO SPARE PARTS 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 : |
14.10.1996 |
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Com. Reg. No.: |
1069131, |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Distributors of automotive spare parts and batteries. |
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$ 175,000 |
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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 : SUPREME AUTO SPARE PARTS LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 14th October 1996
Commercial Registration Number : 1069131,
Trade Licence Number : 243837
Chamber Membership Number : 40902
Issued Capital : UAE Dh 120,000
Paid up Capital : UAE Dh 120,000
Total Workforce : 11
Activities : Distributors of automotive spare parts and batteries.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 175,000
COMPANY
NAME
SUPREME AUTO SPARE
PARTS LLC
ADDRESS
Registered & Physical
Address
Building : Eid Mohamed Building
Street :
Area : Al Rigga
PO Box : 22086
Town :
Country : United Arab Emirates
Telephone : (971-4) 2282658
Facsimile : (971-4) 2282986
Email : rasminas@emirates.net.ae
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Dubai.
KEY
PRINCIPALS
Name Nationality Position
·
Kunnath
Chundangapurayil Usman Indian Managing
Director
·
Ahmed
Essa Saif Humaidan Al Zaabi Emirati Director
LEGAL
FORM & OWNERS
Date of Establishment : 14th
October 1996
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1069131,
Trade Licence No. : 243837
(Expires 13/10/2011)
Chamber Member No. : 40902
Issued Capital : UAE Dh 120,000
Paid up Capital : UAE Dh 120,000
Name of
Shareholder (s) Percentage
·
Ahmed
Essa Saif Humaidan Al Zaabi 51%
·
Kunnath
Chundangapurayil Usman 49%
OPERATIONS
Activities: Engaged in the import and distribution of
automotive spare parts and batteries.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a
workforce of 11 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 11,350,000 UAE Dh 12,200,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
National
Bank of
PO Box: 777
Tel: (971-4) 2222241
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.