MIRA INFORM
REPORT
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Report Date : |
09.03.2011 |
IDENTIFICATION DETAILS
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Name : |
ACS INVESTMENT 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 : |
12.12.2007 |
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Com. Reg. No.: |
1020337, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of metal products and oil and diesel based petroleum 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$ 500,000 |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 : ACS INVESTMENT LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 12th December 2007
Commercial Registration Number : 1020337,
Trade Licence Number : 603928
Chamber Membership Number : 127145
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 10
Activities : Distributors of metal products and oil and diesel based petroleum
products.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 500,000
Person Interviewed : Haroon Mahmoud, Accountant
COMPANY NAME
ACS INVESTMENT LLC
company ADDRESS
Registered & Physical Address
Building :
Street :
Area : Karama Area
PO Box : 127670
Town :
Country :
Telephone : (971-4) 3969422 / 3966643 / 3248000
Facsimile : (971-4) 3244420 / 3969884
Email : info@acsinllc.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
KEY PRINCIPALS
Name Position
·
Nader Mohamed
Saleh Ahmed Mohamed Al Aqili Managing
Director
·
Yaser
Mohamed Saleh Ahmed Mohamed Al Aqili Director
·
Sayed Bader Eddine Naimi Mosavi General
Manager
·
Haroon Mahmoud Accountant
LEGAL FORM & OWNERS
Date of Establishment : 12th
December 2007
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1020337,
Trade Licence No. : 603928
(Expires 08/12/2011)
Chamber Member No. : 127145
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Yaser
Mohamed Saleh Ahmed Mohamed Al Aqili 51%
·
Nader
Mohamed Saleh Ahmed Mohamed Al Aqili 49%
OPERATIONS
Activities: Engaged in the import and distribution of
metal products and oil and diesel based petroleum products.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a
workforce of 10 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
118,750,000 UAE Dh
123,000,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Haroon Mahmoud, Accountant
BANKERS
·
National
Bank of
PO Box: 777
Tel: (971-4) 2222241
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
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.45.03 |
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1 |
Rs.72.98 |
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Euro |
1 |
Rs.62.94 |
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.