MIRA INFORM REPORT

 

 

Report Date :           

05.07.2011

 

IDENTIFICATION DETAILS

 

Name :

BESHWARI TRADING COMPANY LLC

 

 

Registered Office :

Real Estate Department Warehouse, Al Qusais Street, Al Quoz Industrial Area No. 4, P O Box 85600, Dubai

 

 

Country :

United Arab Emirates

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

05.01.1989

 

 

Com. Reg. No.:

54350, Dubai

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Distributors of chilled and frozen meat

 

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

 

Maximum Credit Limit :

US$ 200,000

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

United Arab Emirates 

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

SUMMARY

 

Company Name                                     : BESHWARI TRADING COMPANY LLC

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Limited Liability Company - LLC

Registration Date                                   : 5th January 1989

Commercial Registration Number            : 54350, Dubai

Trade Licence Number                            : 218341

Chamber Membership Number                : 14685

Issued Capital                                        : UAE Dh 300,000

Paid up Capital                                      : UAE Dh 300,000

Total Workforce                                     : 28

Activities                                               : Distributors of chilled and frozen meat.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 200,000

 

COMPANY NAME

 

BESHWARI TRADING COMPANY LLC

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Real Estate Department Warehouse

Street               : Al Qusais Street

Area                 : Al Quoz Industrial Area No. 4

PO Box             : 85600

Town                 : Dubai

Country             : United Arab Emirates

Telephone         : (971-4) 2679889

Facsimile          : (971-4) 2671311

Email                : beshwari@emirates.net.ae / beshwari@eim.ae

 

Premises

Subject operates from a medium sized suite of offices and a warehouse that are rented and located in the Industrial Area of Dubai.

 

 

KEY PRINCIPALS

 

     Name                                                          Nationality                   Position

 

·       Palakkal Puthan Veetil Thamban Nambiar         Indian                          Managing Director

 

·       Santosh Babu Putlat Veedu                             Indian                          Director

 

·       Yousuf Mohamed Mahmood Beshwari   Emirati                        Director

 

·       Alexander George                                                -                            Sales Manager

 

·       Joseph Matakam                                                  -                            Finance Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 5th January 1989

 

Legal Form                  : Limited Liability Company - LLC

 

Commercial Reg. No.  : 54350, Dubai

 

Trade Licence No.       : 218341 (Expires 05/01/2012)

 

Chamber Member No. : 14685

 

Issued Capital              : UAE Dh 300,000

 

Paid up Capital            : UAE Dh 300,000

 

Name of Shareholder (s)                                               Percentage

 

·       Yousuf Mohamed Mahmood Beshwari                  51%

 

·       Palakkal Puthan Veetil Thamban Nambiar                        25%

 

·       Santosh Babu Putlat Veedu                                            24%

 

 

AFFILIATED COMPANIES

 

·       Y M Beshwari Trading LLC

     Al Quoz Industrial Area No. 4

     PO Box: 91264

     Dubai

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of chilled and frozen meat.

 

Import Countries: Europe and India.

 

International Suppliers:

 

·       Alana Meat               India

·       Al Nafees Meat         India

 

Operating Trend: Steady

 

Subject has a workforce of 28 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 14,600,000                   UAE Dh 15,120,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Bank of Baroda

PO Box: 3162

Dubai

Tel: (971-4) 5531955

Fax: (971-4) 5536962

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Established in 1989, subject is owned and managed by Mr Palakkal Puthan Veetil Thamban Nambiar and Mr Santosh Babu Putlat Veedu who are Indian nationals operating in Dubai under the local sponsorship of Mr Yousuf Mohamed Mahmood Beshwari.

 

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.44.46

UK Pound

1

Rs.71.53

Euro

1

Rs.64.63

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.