MIRA INFORM
REPORT
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Report Date : |
04.01.2011 |
IDENTIFICATION DETAILS
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Name : |
FADHIL MOSA ABDULKARIM TRADING LLC |
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Registered Office : |
Al |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
27.03.2002 |
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Com. Reg. No.: |
58863, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesale and retail of general foodstuff products and beverages |
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$ 350,000 |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 : FADHIL MOSA ABDULKARIM TRADING LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 27th March 2002
Commercial Registration Number : 58863,
Trade Licence Number : 532826
Chamber Membership Number : 67912
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 6
Activities : Wholesale and retail of general foodstuff products and beverages
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 350,000
Person Interviewed : Bashir Ismail, Commercial Manager
COMPANY NAME
FADHIL MOSA ABDULKARIM TRADING LLC
company ADDRESS
Registered & Physical Address
Building : Al
Street :
Area : Al Ras
PO Box : 64549
Town :
Country :
Telephone : (971-4) 2290720
Facsimile : (971-4) 2291094
Email : fadhel64@hotmail.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
·
Fadhil
Mosa Abdul Karim Iraqi Managing
Director
·
Mohsin Ibrahim
Abdullah Emirati Director
·
Bashir Ismail - Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 27th
March 2002
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 58863,
Trade Licence No. : 532826
Chamber Member No. : 67912
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Mohsin
Ibrahim Abdullah 51%
·
Fadhil
Mosa Abdul Karim 49%
OPERATIONS
Activities : Engaged in the wholesale and retail of
general foodstuff products and beverages.
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 31/12/08: Year
Ending 31/12/09:
Total Sales UAE Dh 7,175,000 UAE Dh 7,800,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Bashir Ismail, Commercial Manager.
BANKERS
·
Middle
East Bank Ltd
PO Box: 5547
Tel: (971-4) 2220121
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PO Box: 1080
Tel: (971-4) 2953000
Fax: (971-4) 2954111
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction November
2007 November 2008
Credit amount 96,190 324,974
Amount overdue 0 0
Payment terms 60
days 90
days
Payment Method Letters
of Credit Letters
of Credit
Paying record No
Complaints No
Complaints
Currency Canadian
Dollars Canadian
Dollars
GENERAL COMMENTS
Established in 2002, subject is owned and managed by Mr Fadhil Mosa Abdul
Karim, an Iraqi national who operates in
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.44.67 |
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|
1 |
Rs.69.45 |
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Euro |
1 |
Rs.59.37 |
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.