MIRA
INFORM REPORT
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Report Date : |
28.01.2011 |
IDENTIFICATION DETAILS
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Name : |
AL Hal Trading LLC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
12.05.2001 |
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Com. Reg. No.: |
59873 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as importers and distributors of automotive spare
parts |
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 : |
Dh 600,000 |
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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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United Arab Emirates |
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 |
COMPANY NAME
Al Hal Trading LLC
COMPANY ADDRESS
Building : Sultan Bin Khalifa Alhabtoor Est. Building
Street : Nadd Al Hamar Road, Ras Al Khor, Warehouse No. 14, Opposite Al Ghamdi Complex
Area : Deira Area
P.O. Box : 86772
Town : Dubai
Country : United Arab Emirates
Telephone : (971 4) 289 4905 / Mobile (971 50) 626 5774 (Zaheed Ali Khan)
Fax : (971 4) 289 4906
E-Mail : zakyas@emirates.net.ae
SENIOR COMPANY PERSONNEL
Name Position
1. Zaheed Ali Khan Managing Director
2. M. Latifah Chief Accountant
3. Lolita Timario Accountant
Total Employees : 32
PAYMENTS
No complaints have been heard regarding payments from local suppliers or banks.
We consider it is acceptable to deal with subject for MEDIUM amounts.
Opinion on maximum credit : Dh 600,000
Trade risk assessment :
PRINCIPAL BANKERS
NAME : DUBAI ISLAMIC BANK
Branch : Airport Road
PO Box : 1080
Town : Dubai
Telephone : (971 4) 214 4888
Fax : (971 4) 237 1243
The company also has
an account with:
1. BNP Paribas
Khalid Bin Waleed Street, PO Box 7233, Dubai
Telephone : (971 4) 525 8929
Fax : (971 4) 521 4341
2. Habib Bank AG Zurich
Main
Branch, PO Box 3306, Dubai
Telephone : (971 4) 221 4535
Fax : (971 4) 228 4211
FINANCIAL INFORMATION
Private companies in United Arab Emirates are not
required to publish or disclose balance sheets. However, the subject interviewed
offered the following information :
Sales Turnover : Dh 28,000,000 - 2009 - exact
: Dh 32,000,000 - 2010 - exact
Net Profit : not given but stated to be 10%-15% of sales turnover
Financial year ends 31 December.
LEGAL STATUS AND HISTORY
Date Started : 12 May 2001
History : Subject was incorporated in Dubai on 12 May 2001 as a Limited Liability Company with the following shareholders: Zaheed Ali Khan (Pakistani national) and Abdu Allah Hossein (UAE national). On 17 June 2010, subject’s shareholding structure changed to the present.
C.R. No. : 59873
DCCI Membership No : 63936 (issue date: 15 May 2001)
Trade License No. : 526290 (expiry date: 11 May 2011)
Authorised Capital : Dh 1,000,000 (increased from Dh 300,000)
Paid-Up Capital : Dh 1,000,000 (increased from Dh 300,000)
Limited Liability Company with the following shareholders :
Percentage
1. Nader Ali Khan 17%
(USA national)
2. Yasmeen Iqbal Khan 17%
(Pakistani national)
3. Zaheed Ali Khan 15%
(Pakistani national)
4. Muna Ahmed Wife of Mohammed Saleh 51%
Mohammed Ahmed Al Khayal *
(UAE national)
* The local sponsor, according to UAE laws must hold a minimum of 51% of the capital, however, in practice and unofficially the partner gets a fixed annual percentage of the profit and a sponsorship fee without any investment in the company.
Affiliated companies
of AL Hal Trading LLC
Subsidiaries
Z 2 Group FZCO
Sheikh Zayed Road, Jebel Ali Free Zone, PO Box 3626/86772, Dubai
Telephone : (971 4) 880 2641
Est. : 2004
Capital : Dh 500,000
ACTIVITIES
The Company is involved in the following activities :
Trading as importers and distributors of automotive spare parts.
Subject is an agent for:
- Eurocombi - Italy
- Atex - UK
Imports from
Subject does not export all sales are local.
FACILITIES
The Company has the following facilities :
Rented premises comprising administrative offices and warehousing facilities located at the heading address as well as one retail outlet located elsewhere in Dubai (see "Branch Offices" below).
The company also has outlet retailers at Sharjah and Sudan.
BRANCH
OFFICES
Al Hal Trading LLC (Branch)
PO Box 56206, Deira Area, Dubai
Telephone : (971 4) 272 1312
Est. : 3 April 2001
DCCI Membership No. : 63055
SPECIAL
NOTE
The telephone numbers given by you: +971 4 289405 is incomplete. Please note that subject’s correct telephone numbers are as per heading.
Interviewed: Zaheed Ali Khan (Managing Director).
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.57 |
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1 |
Rs.72.50 |
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Euro |
1 |
Rs.62.46 |
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.