MIRA
INFORM REPORT
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Report Date : |
07.03.2011 |
IDENTIFICATION DETAILS
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Name : |
AL WARD INTERNATIONAL LIMITED |
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Registered Office : |
Saif Zone, Plot No. L2-21 PO Box 121665 Sharjah |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1998 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Import and export of petrochemical products, fertilizers and iron ore. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
US$ 20,000 |
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Status : |
Moderate |
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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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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UAE |
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 : AL WARD INTERNATIONAL LIMITED
Country of Origin :
Legal Form : Limited Liability Company
Start Date : 1998
Registration Date : 20th February 2008
Trade Licence Number : 05823
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Total Workforce : 3
Activities : Import and export of petrochemical products, fertilizers and iron ore.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 20,000
Person Interviewed : Mujahid Hussain Kothari, Managing Director
COMPANY NAME
AL WARD INTERNATIONAL LIMITED
ADDRESS
Registered & Physical Address
Location : Saif Zone,
Plot No. L2-21
PO Box : 121665
Town : Sharjah
Country :
Telephone : (971-6) 5576402
Facsimile : (971-6)
5748490 / 5576403
Email : alwardinternational@gmail.com
/ mujahidonetwoone@hotmail.com
/ info@alwardinternational.com
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Saif Zone Area of
Sharjah.
KEY PRINCIPALS
Name Nationality Position
· Mujahid Hussain
Kothari Pakistani Managing Director
LEGAL FORM & OWNERS
Date of
Establishment : Subject’s
operations date back to 1998, however it was registered on 20th
February 2008
Legal Form : Limited Liability Company
Trade Licence No. : 05823, Saif Zone (Expires 17/06/2011)
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Name of Shareholder (s)
· Mujahid Hussain
Kothari
AFFILIATED COMPANIES
· Al Ward International General Trading LLC
PO Box: 234662
Tel: (971-4)
3584611 / 4584633
Fax: (971-4) 3564622 / 2576528
Mob: (971-50) 1415509
Email: info@alwardinternational.com
OPERATIONS
Activities: Engaged in the import and export of petrochemical products, fertilizers
and iron ore.
Import Countries:
Operating Trend: Steady
Subject has a workforce of 3 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales UAE
Dh 8,995,000 UAE Dh
9,240,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures were confirmed by Mujahid Hussain Kothari,
Managing Director
BANKERS
·
Habib Bank AG
Rolla Branch
PO Box: 300
Sharjah
Tel: (971-6)
5356116
Fax: (971-6)
5526473
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Please note that Mr Mujahid Hussain Kothari stated that he intends to
close the business down once the trade licence expires on 17th June
2011. He has already set up a new company called “Al Ward International General Trading LLC” which will be his business
after Al Ward International Limited ceases trading.
Due to the fact that the subject will shortly cease trading we suggest
that any dealings are on fully secured terms.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.99 |
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|
1 |
Rs.73.24 |
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Euro |
1 |
Rs.62.80 |
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 |
-- |
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.