MIRA INFORM
REPORT
|
Report Date : |
15.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
HAKAN AGRO DMCC |
|
|
|
|
Registered Office : |
Almas Tower,
Suite 21-H, Jumeirah Lake Towers, Sheikh Zayed Road, P O Box 31489, Dubai |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
29.03.2005 |
|
|
|
|
Legal Form : |
Free Zone Company |
|
|
|
|
Line of Business : |
Import and distribution of agro-food commodities |
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$ 700,000 |
|
|
|
|
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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
|
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SUMMARY
Company Name : HAKAN AGRO DMCC
Country of Origin :
Legal Form : Free Zone Company – FZ LLC
Registration Date : 29th March 2005
Trade Licence Number : 30158
Chamber Membership Number : 95940
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 45
Activities : Import and distribution of agro-food commodities
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 700,000
Person Interviewed : Ahmed Batroay, Financial Controller
COMPANY NAME
HAKAN AGRO DMCC
company ADDRESS
Registered & Physical Address
Building :
Street :
PO Box : 31489
Town :
Country :
Telephone : (971-4) 4230700
Facsimile : (971-4) 4230707
Email : dubai@hakanfoods.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the
Industrial Area of Dubai.
Branch Offices
Location Description
·
Al Quoz
Industrial Area Warehouse
premises
KEY PRINCIPALS
Name Nationality Position
·
Hakan
Bahceci Belizean Managing
Director
·
Sudhakar
Vardhan Singh Tomar Indian Director
·
Essa
Abdullah Mohamed Zaman Kamali Emirati Director
·
Jim
Kaffery - Finance
Manager
·
Koray Ozkan - Business
Development Manager
·
Ahmed
Batroay - Financial
Controller
·
K
LEGAL FORM & OWNERS
Date of Establishment : 29th
March 2005
Legal Form :
Free Zone Company – FZ LLC
Trade Licence No. : 30158
Chamber Member No. : 95940
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder
(s) Percentage
·
Hakan
Holdings Ltd 100%
Jebel Ali Free Zone
AFFILIATED COMPANIES
·
Hakan
Agro Commodities Trading Co LLC
Rigga Al Bateen
PO Box: 31489
Tel: (971-4) 2287818
Fax: (971-4) 2274434
OPERATIONS
Activities: Engaged in the import and distribution of agro-food commodities such as oil and oilseeds, pulses,
frozen meats and dairy products, animal feeds, spices, dried fruits, packaging
materials and specialty products.
Hakan Agro DMCC
is the only agri-food commodities trading company in the
Import
Countries: Europe and the
Brand Names: MI PIACE, MR CHIXS, RAPCHICK, YENI DAD,
KRAL, DIVAS, & SARA
Operating Trend: Steady
Subject has a
workforce of 45 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 51,250,000 UAE Dh 55,000,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Ahmed Batroay, Financial Controller
BANKERS
·
Standard
Chartered Bank
PO Box: 999
Tel: (971-4) 2520455
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
2005, subject is engaged in the import and distribution of agro-food commodities.
Local sources report
that payment obligations are met in a generally timely manner and the operating
history is clear. As such the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.15 |
|
|
1 |
Rs.72.59 |
|
Euro |
1 |
Rs.62.95 |
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 |
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.