MIRA INFORM
REPORT
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Report Date : |
16.03.2011 |
IDENTIFICATION DETAILS
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Name : |
SAHAR ENTERPRISES LLC |
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Registered Office : |
Al |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
03.02.1979 |
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Com. Reg. No.: |
41978, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Import and distribution
of general foodstuff products and beverages |
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$ 350,000 |
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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
|
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 : SAHAR ENTERPRISES LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 3rd February 1979
Commercial Registration Number : 41978,
Trade Licence Number : 206423
Chamber Membership Number : 5170
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 60
Activities : Import and distribution of general foodstuff products and beverages.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 350,000
COMPANY NAME
SAHAR ENTERPRISES
LLC
company ADDRESS
Registered & Physical Address
Building : Al
Street :
PO Box : 7329
Town :
Country :
Telephone : (971-4) 2671122 / 2671577
Facsimile : (971-4) 2671918
Email : alkabeer@emirates.net.ae
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Suburban Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Suresh
Chandra Subberwal Indian Managing
Director
·
Altaf Ghulamuddin
Shaikh Indian Director
·
Atwal
Subberwal Indian Director
·
Ibrahim
Abdullah Mohamed Al Abdooli Emirati Director
·
Ashraf
Ibrahim - Sales
Manager
·
Ahmed
Khan - Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 3rd
February 1979
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 41978,
Trade Licence No. : 206423
Chamber Member No. : 5170
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Ibrahim
Abdullah Mohamed Al Abdooli 51%
·
Suresh
Chandra Subberwal 39%
·
Altaf
Ghulamuddin Shaikh 5%
·
Atwal
Subberwal 5%
AFFILIATED COMPANIES
·
Al
Sabah Food LLC
Tel: (971-2) 6733006
Fax: (971-2) 6733043
OPERATIONS
Activities: Engaged in the import and distribution of
general foodstuff products and beverages.
Import
Countries:
Operating Trend: Steady
Subject has a workforce
of 60 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
14,385,000 UAE Dh
15,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
ABN
Amro Bank
Deira Branch
PO Box: 2567
Tel: (971-4) 3512200
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction August
2008
Credit amount 74,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Euros
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.15 |
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|
1 |
Rs.72.59 |
|
Euro |
1 |
Rs.62.95 |
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.