MIRA
INFORM REPORT
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Report Date : |
04.05.2011 |
IDENTIFICATION DETAILS
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Name : |
DARA SCRAP TRADING CO 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 : |
02.05.1990 |
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Com. Reg. No.: |
20182 |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Distributors of scrap metal, batteries, rubber butyl tubes, generators and transformers. |
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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UAE |
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 : DARA SCRAP TRADING CO LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 2nd May 1990
Commercial Registration Number : 20182
Trade Licence Number : 113296
Chamber Membership Number : 25063
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 35
Activities : Distributors of scrap metal, batteries, rubber butyl tubes, generators and transformers.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Mohamed Reza, Financial Controller
COMPANY NAME
DARA SCRAP TRADING CO LLC
ADDRESS
Registered & Physical Address
Street :
Area : Industrial
Area No. 2
PO Box : 6495
Town : Sharjah
Country :
Telephone : (971-6) 5335989
Facsimile : (971-6)
5337425
Email : daratrdg@emirates.net.ae
/ daraexport@eim.ae
Premises
Subject operates from a medium sized suite of offices and a warehouse
that are rented and located in the Industrial Area of Sharjah.
KEY PRINCIPALS
Name Nationality Position
· Iqbal Hussain
Kirmani Pakistani Managing
Director
· Mian Mohamed Azher Pakistani Director
· Ibrahim Shadad
Abdullah Emirati Director
· Mohamed Reza - Financial
Controller
LEGAL FORM & OWNERS
Date of
Establishment : 2nd
May 1990
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 20182
Trade Licence No. : 113296 (Expires 29/04/2012)
Chamber Member No. : 25063
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Ibrahim Shadad
Abdullah 51%
· Iqbal Hussain
Kirmani 25%
· Mian Mohamed Azher 24%
AFFILIATED COMPANIES
· Modern Co
Operation Enterprises LLC
PO Box: 378
Tel: (968)
24460292
· Emirates Oxygen
Company LLC
PO Box: 4103
Sharjah
Tel: (971-6)
5343099
OPERATIONS
Activities: Engaged in the import and distribution of scrap metal, batteries,
rubber butyl tubes, generators and
transformers.
Import Countries: Europe and the
Operating Trend: Steady
Subject has a workforce of 35 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 18,860,000 UAE Dh
20,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Mohamed Reza, Financial Controller
BANKERS
·
HSBC Bank
PO Box: 25
Sharjah
Tel: (971-6)
5537222
Fax: (971-6)
5537880
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.44.34 |
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1 |
Rs.73.69 |
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Euro |
1 |
Rs.65.75 |
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 |
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-- |
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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.