MIRA INFORM
REPORT
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Report Date : |
02.03.2011 |
IDENTIFICATION DETAILS
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Name : |
DENA TRADING CO LLC |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
19.12.1983 |
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Com. Reg. No.: |
44346, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of general foodstuff products |
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$ 400,000 |
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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 : DENA TRADING CO LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 19th December 1983
Commercial Registration Number : 44346,
Trade Licence Number : 202297
Chamber Membership Number : 11224
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 12
Activities : Distributors of general foodstuff products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 400,000
Person Interviewed : Mohsen Ali Asghar Naseri, Managing Director
COMPANY NAME
DENA TRADING CO LLC
company ADDRESS
Registered & Physical Address
Building :
Street :
Area : Al Ras, Deira
PO Box : 4131
Town :
Country :
Telephone : (971-4) 2263183 & 2260022
Facsimile : (971-4) 2263449
Email : denadubai@emirates.net.ae
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Mohsen
Ali Asghar Naseri Iranian Managing
Director
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Sayed
Abdul Karim Sayed Hassan Sohbati Iranian Director
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Mohamed
Khalid Ahmed Emirati Director
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Amir
Ali Naziri - Sales
Manager
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Sham
Parasad - Finance
Manager
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M
LEGAL FORM & OWNERS
Date of Establishment : 19th
December 1983
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 44346,
Trade Licence No. : 202297
(Expires 11/12/2011)
Chamber Member No. : 11224
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
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Mohamed
Khalid Ahmed 51%
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Mohsen
Ali Asghar Naseri 25%
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Sayed
Abdul Karim Sayed Hassan Sohbati 24%
AFFILIATED COMPANIES
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Hamoon
Foodstuff Trading LLC
PO Box: 3767
OPERATIONS
Activities: Engaged in the import and distribution of
general foodstuff products, including nuts, raisins, rice and food additives.
Subject also offers financing for Iranian customers who want
to import machinery to
Import
Countries:
Operating Trend: Steady
Subject has a
workforce of 12 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales UAE Dh
12,850,000 UAE Dh
13,500,000
Local sources
consider subject’s financial condition to be Fair.
The above figures were
provided by Mr Mohsen Ali Asghar Naseri, Managing Director
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.
Date of
transaction December
2006
Credit amount 150,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency
GENERAL COMMENTS
During the course
of this investigation nothing detrimental was uncovered regarding subject’s
operating history or the manner in which payments are fulfilled. As such the
company is considered to be 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.45.12 |
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1 |
Rs.73.43 |
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Euro |
1 |
Rs.62.32 |
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.