MIRA INFORM
REPORT
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Report Date : |
12.01.2011 |
IDENTIFICATION DETAILS
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Name : |
COAL AND OIL COMPANY LLC |
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Registered Office : |
National Bank of Umm
Al Quwain Building, Suite 402, Khalid Ibn Al Waleed Street, Al Mankhool, P O
Box 30850, Dubai |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
16.02.1998 |
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Com. Reg. No.: |
50567, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of crude oil, coal and firewood |
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 – 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 : COAL AND OIL COMPANY LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 16th February 1998
Commercial Registration Number : 50567,
Trade Licence Number : 503713
Chamber Membership Number : 47995
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Total Workforce : 14
Activities : Distributors of crude oil, coal and firewood.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
COAL AND OIL COMPANY LLC
company ADDRESS
Registered & Physical Address
Building : National Bank of Umm Al
Street :
Area : Al Mankhool
PO Box : 30850
Town :
Country :
Telephone : (971-4) 3972525
Facsimile : (971-4) 3971663
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
·
Ahmed
Bukhary Rahman Bukhary Sayed Indian Managing
Director
·
Noohu
Mohamed Amir Faisal Indian Director
·
Arif Bukhari
Rahman Indian Director
·
Abdullah
Hassan Al Rostamani Emirati Director
·
Humaid
Jalal Eddine - Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 16th
February 1998
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 50567,
Trade Licence No. : 503713
(Expires 2nd February 2011)
Chamber Member No. : 47995
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Name of Shareholder
(s) Percentage
·
Abdullah
Hassan Al Rostamani 51%
·
Ahmed
Bukhary Rahman Bukhari Sayed 40%
·
Arif
Bukhari Rahman 5%
·
Noohu
Mohamed Amir Faisal 4%
OPERATIONS
Activities: Engaged in the import and distribution of
crude oil, coal and firewood.
Import
Countries:
Export Countries:
Operating Trend: Steady
Subject has a
workforce of 14 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 7,800,000 UAE Dh 8,250,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Emirates
Bank International Ltd
Deira
PO Box: 2923
Tel: (971-4) 2256256 / 2256900
Fax:
(971-4) 2268005 / 2267718
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1998,
subject is owned and managed by a number of Indian nationals who operate in
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 business is deemed 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.45.32 |
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|
1 |
Rs.70.54 |
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Euro |
1 |
Rs.58.70 |
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.