MIRA INFORM
REPORT
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Report Date : |
31.03.2011 |
IDENTIFICATION DETAILS
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Name : |
GHAZAL |
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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 : |
19.01.1994 |
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Com. Reg. No.: |
48630, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of automotive spare parts and accessories |
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$ 150,000 |
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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 : GHAZAL
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 19th January 1994
Commercial Registration Number : 48630,
Trade Licence Number : 232911
Chamber Membership Number : 29322
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 20
Activities : Distributors of automotive spare parts and accessories.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
GHAZAL
company ADDRESS
Registered & Physical Address
Building :
Street :
Area : Industrial Area
PO Box : 60525
Town :
Country :
Telephone : (971-4) 3332785
Facsimile : (971-4) 3332786
Email : nabedini@emirates.net.ae / ghazalalbarllc@yahoo.com
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Industrial Area of Dubai.
Branch Offices
Location Description
·
Tel: (971-2) 5552116
Fax: (971-2) 5552117
KEY PRINCIPALS
Name Nationality Position
·
Nader
Gholam Hossein Abedini Iranian Managing Director
·
Reyadh Abdullah
Mohamed Abdulrahman Al Awadhi Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 19th
January 1994
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 48630,
Trade Licence No. : 232911
(Expires 26/12/2011)
Chamber Member No. : 29322
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Reyadh
Abdullah Mohamed Abdulrahman Al Awadhi 51%
·
Nader
Gholam Hossein Abedini 49%
OPERATIONS
Activities: Engaged in the import and distribution of
automotive spare parts and accessories.
Subject imports
Mercedes truck and BPW trailer spare parts. Its range of items includes chassis
items, air brake systems, electrical items, engine items, hydraulic items, bearings,
universal joints oil seals and
body parts.
Import
Countries: Europe and the
Brand Names: GHN, HLB, WEGER, GOOD TYRES, ITCO, LUBREX,
WAD, GH TECHNIC, MONARK, FA6 and
SUPER
Operating Trend: Steady
Subject has a
workforce of 20 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
12,465,000 UAE Dh
13,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Emirates
Bank International Ltd
Deira
PO Box: 2923
Tel: (971-4) 3160316
Fax: (971-4) 2264302
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.44.77 |
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|
1 |
Rs.71.69 |
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Euro |
1 |
Rs.63.02 |
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.