MIRA INFORM REPORT

Report Date :

12.03.2011

IDENTIFICATION DETAILS

Name :	ALI ZENAID TRADING CO LLC

Registered Office :	Flower Of Garhood Building, Office No. 210 Airport Road Al Garhoud Area P.O.Box No 13420 Dubai

Country :	United Arab Emirates

Date of Incorporation :	18.08.1990

Com. Reg. No.:	43566

Legal Form :	Limited Liability Company

Line of Business :	Trading as importers and wholesalers of textiles, readymade garments, fabrics, luggage and suitcases.

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	Dh 80,000

Status :	Small Company

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 – December 31, 2010

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

UAE

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company NAME

Ali Zenaid Trading Co LLC

ADDRESS

Building : Flower Of Garhood Building, Office No. 210

Street : Airport Road

Area : Al Garhoud Area

P.O.Box No.: 13420

Town : Dubai

Country : United Arab Emirates

Telephone : (971 4) 282 5001

Fax : (971 4) 282 7649

E-Mail : ashraf@azecme.com

SENIOR COMPANY PERSONNEL

Name Position

1. Mohammed Shafii Zakaria Managing Director

2. Mohammed Saleem Zakaria General Manager

3. Mohammed Ashraf Financial Manager

4. Mohammed Imran Sales Manager

Total Employees : 15

PAYMENTS

No complaints have been heard regarding payments from local suppliers or banks.

We consider it is acceptable to deal with subject for SMALL amounts.

Opinion on maximum credit : Dh 80,000

Trade risk assessment: Normal

PRINCIPAL BANKERS

NAME : HABIB BANK AG ZURICH

Branch : Al Ittihad Square

P.O. Box : 3306

Town : 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 3,500,000 - 2009 - exact

: Dh 4,000,000 - 2010 - exact

: Dh 4,500,000 – 2011 – projected

Net Profit : not given but stated to be 10% of the sales

Financial year ends 31 December.

LEGAL STATUS AND HISTORY

Date Started : 18 August 1990

C.R. No. : 43566

Trade License No.: 223553 (expiry date: 17/08/2011)

Authorised Capital : Dh 300,000

Paid-Up Capital : Dh 300,000

Limited Liability Company with the following shareholders :

Percentage

1. Mohammed Shafii Zakaria 25%

(Pakistani national)

2. Mohammed Saleem Zakaria 24%

(brother of the above)

3. Ali Abdullah Mohammed Al Sowaidi * 51%

(UAE national)

* The local sponsor, according to UAE laws must hold a minimum of 51% of the capital, however, in practice and unofficially the sponsor gets a fixed annual percentage of the profit and a sponsorship fee without any investment in the company.

ACTIVITIES

The Company is involved in the following activities :

Trading as importers and wholesalers of textiles, readymade garments, fabrics, luggage and suitcases.

Subject’s Main Clients:

- Lulu Hypermarket

- Giant

Imports from China.

Exports to GCC countries.

FACILITIES

The Company has the following facilities :

Rented administrative offices and storage facilities located at the heading address.

SPECIAL NOTE

Interviewed: Mohammed Ashraf (Financial Manager).

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.21
UK Pound	1	Rs.72.55
Euro	1	Rs.62.43

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.