MIRA
INFORM REPORT
|
Report Date : |
22.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
SALEM AL DAWLA TRADING LLC |
|
|
|
|
Registered Office : |
Haji Moosa Jaafar Building Al Fahidi Street Bur Dubai PO Box 24359
Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
18.10.1991 |
|
|
|
|
Com. Reg. No.: |
23772, Dubai |
|
|
|
|
Legal Form : |
Limited Liability Company – LLC |
|
|
|
|
Line of Business : |
Wholesale and retail of textiles and ready made garments. |
|
|
|
|
No. of Employees : |
10 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
UAE |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SUMMARY
Company Name : SALEM AL DAWLA TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company – LLC
Registration Date : 18th October 1991
Commercial Registration Number : 23772, Dubai
Trade Licence Number : 226075
Chamber Membership Number : 22312
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 10
Activities : Wholesale and retail of textiles and ready made garments.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
SALEM AL DAWLA TRADING LLC
ADDRESS
Registered & Physical Address
Building : Haji Moosa
Jaafar Building
Street : Al Fahidi
Street
Area : Bur Dubai
PO Box : 24359
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 3538315
/ 3539384 / 3538415 / 3512398
Facsimile : (971-4)
3539384
Mobile : (971-50)
6522487
Email : rajev_aswani@yahoo.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
· Tireth Aswani Indian Managing
Director
· Rajev Tireth
Aswani Indian Director
· Salem Hassan
Mohamed Al Dawla Emirati Director
LEGAL FORM & OWNERS
Date of
Establishment : 18th
October 1991
History : Subject began in
1991 as a Sole Proprietorship but re-registered in 2009 as a Limited
Liability Company.
Legal Form : Limited Liability
Company – LLC
Commercial Reg.
No. : 23772, Dubai
Trade Licence No. : 226075 (Expires 27/10/2012)
Chamber Member No. : 22312
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Salem Hassan
Mohamed Al Dawla 51%
· Tireth Aswani 25%
· Rajev Tireth
Aswani
24%
OPERATIONS
Activities: Engaged in the wholesale and retail of textiles and ready made
garments.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 10 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales UAE
Dh 9,200,000 UAE Dh
10,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on
estimations by our local sources.
BANKERS
·
Emirates Bank International Ltd
Baniyas Road
Deira
PO Box: 2923
Dubai
Tel: (971-4)
3160316
Fax: (971-4)
2264302
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1991, subject is involved in the wholesale and retail of
textiles and ready made garments.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.67 |
|
|
1 |
Rs.82.53 |
|
Euro |
1 |
Rs.69.13 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
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.