MIRA INFORM
REPORT
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Report Date : |
13.01.2011 |
IDENTIFICATION DETAILS
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Name : |
BRABOURNE TRADING LLC |
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Registered Office : |
Baniyas Complex,
9th Floor, Suite No. 905, B Block, Nasser Square, Al Rigga, Deira,
P O Box 28841, Dubai |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
09.03.1998 |
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Com. Reg. No.: |
50701, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Import and distribution
of automotive spare parts and components |
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$ 200,000 |
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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
|
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 : BRABOURNE TRADING LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 9th March 1998
Commercial Registration Number : 50701,
Trade Licence Number : 504217
Chamber Membership Number : 48455
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 12
Activities : Import and distribution of automotive spare parts and components
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
Person Interviewed : S.K. Palli, Administration Manager
COMPANY NAME
BRABOURNE TRADING
LLC
Company ADDRESS
Registered & Physical Address
Building : Baniyas Complex, 9th Floor,
Suite No. 905, B Block
Street :
Area : Al Rigga, Deira
PO Box : 28841
Town :
Country :
Telephone : (971-4) 2288920
Facsimile : (971-4) 2288790
Email : btllc@eim.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
·
Deepak
Seth Indian Managing
Director
·
Ali
Yousuf Abdullah Al Shaer Emirati Director
·
S.K. Palli - Administration
Manager
·
Raj Kumar - Commercial
Manager
·
Walton John - Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 9th
March 1998
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 50701,
Trade Licence No. : 504217
(Expires 25/02/2011)
Chamber Member No. : 48455
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Ali
Yousuf Abdullah Al Shaer 51%
·
Deepak
Seth 49%
OPERATIONS
Activities: Engaged in the import and distribution of
automotive spare parts and components, including tyres, wheels and batteries.
Import
Countries: Europe and
Operating Trend: Steady
Subject has a
workforce of 12 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 14,000,000 UAE Dh 15,120,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by S.K. Palli, Administration
Manager.
BANKERS
·
Mashreq
Bank Plc
Deira Branch
PO Box: 1250
Tel: (971-4) 2229131 / 2221134
·
Standard
Chartered Bank
PO Box: 999
Tel: (971-4) 2520455
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction February
2007
Credit amount 150,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency
GENERAL COMMENTS
Established in
1998, subject is involved in the import and distribution of automotive spare parts
and components, including tyres, wheels and batteries.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company is deemed a fair trade risk and
the above credit figure is considered to be within subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.45.16 |
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|
1 |
Rs.70.64 |
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Euro |
1 |
Rs.58.68 |
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 |
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.