MIRA INFORM REPORT

 

 

Report Date :           

13.05.2011

 

IDENTIFICATION DETAILS

 

Name :

KAMAL KHANBABAEI GENERAL TRADING LLC

 

 

Registered Office :

Abdus-Salam Mohamed Rafea Building, Al Ras Street, Al Ras, P O Box    65073, Dubai

 

 

Country :

United Arab Emirates

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

27.06.2004

 

 

Com. Reg. No.:

68531, Dubai

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Distributors of general foodstuff products and beverages

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

US$ 1,500,000

 

 

Status :

Good

 

 

Payment Behaviour :

Usually Correct

 

 

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)

United Arab Emirates 

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                                     : KAMAL KHANBABAEI GENERAL TRADING LLC

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Limited Liability Company - LLC

Registration Date                                   : 27th June 2004

Commercial Registration Number            : 68531, Dubai

Trade Licence Number                            : 558748

Chamber Membership Number                : 88809

Issued Capital                                        : UAE Dh 300,000

Paid up Capital                                      : UAE Dh 300,000

Total Workforce                                     : 15

Activities                                               : Distributors of general foodstuff products and beverages.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 1,500,000

Person Interviewed                                 : Vijay Kumar, Logistics Manager

COMPANY NAME

 

KAMAL KHANBABAEI GENERAL TRADING LLC

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Abdus-Salam Mohamed Rafea Building

Street               : Al Ras Street

Area                 : Al Ras

PO Box             : 65073

Town                 : Dubai

Country             : United Arab Emirates

Telephone         : (971-4) 2258332 / 2291733

Facsimile          : (971-4) 2258337

Mobile               : (971-50) 5587278

Email                : kaamal@eim.ae

 

Premises

Subject operates from a small suite of offices and a showroom that are rented and located in the Central Business Area of Dubai.

 

Branch Offices

 

     Location                                                                                          Description

 

·       Sheikh Zayed Road                                                                           Office premises

Dubai

Tel: (971-4) 3296550

 

 

KEY PRINCIPALS

 

     Name                                                          Nationality                   Position

 

·       Kamal Lutfali Khanbabaei Mamghti                 Iranian                           Managing Director

 

·       Lutfali Mohamed Khanbabaei              Iranian                           Director

 

·       Hussain Ali Kike                                           Emirati                          Director

 

·       Fadi Al Kayali                                                     -                             Commercial Manager

 

·       Vemal Bhatia                                                      -                             Financial Controller

 

·       Zahid Hussain                                                     -                             Finance Manager

 

·       Vijay Kumar                                                        -                             Logistics Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 27th June 2004

 

Legal Form                  : Limited Liability Company - LLC

 

Commercial Reg. No.  : 68531, Dubai

 

Trade Licence No.       : 558748 (Expires 26/06/2011)

 

Chamber Member No. : 88809

 

Issued Capital              : UAE Dh 300,000

 

Paid up Capital            : UAE Dh 300,000

 

Name of Shareholder (s)                                          Percentage

 

·       Hussain Ali Kike                                                       51%

 

·       Lutfali Mohamed Khanbabaei                          25%

 

·       Kamal Lutfali Khanbabaei Mamghti                             24%

 

 

AFFILIATED COMPANIES

 

·       Birdaneh Kaamal Co

Tehran

Iran

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of general foodstuff products and beverages.

 

Import Countries: Europe and the Far East.

 

Operating Trend: Steady

 

Subject has a workforce of 15 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: United Arab Emirates Dirham (UAE Dh)

 

                                                Year Ending 31/12/09:                Year Ending 31/12/10:

 

Total Sales                                UAE Dh 148,000,000                  UAE Dh 160,000,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above figures were provided by Mr Vijay Kumar, Logistics Manager

 

 

BANKERS

 

·       Commercial Bank of Dubai

Baniyas Street

PO Box: 1709

Deira

Dubai

Tel: (971-4) 2227121 / 2253222

Fax: (971-4) 2220943 / 2254565

 

·       Habib Bank Ltd

Al Safa Tower

Sheikh Zayed Road

PO Box : 3306

Dubai

Tel : (971-4) 3232212

Acc No. 02011020311105170040

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Established in 2004, subject is involved in the import and distribution of general foodstuff products and beverages.

 

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.44.79

UK Pound

1

Rs.73.19

Euro

1

Rs.63.59

 

 

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.