MIRA
INFORM REPORT
|
Report Date : |
17.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
SYED SHAHAB FOODSTUFF TRADING CO LLC |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
08.04.2006 |
|
|
|
|
Com. Reg. No.: |
372661, Sharjah |
|
|
|
|
Legal Form : |
Limited
Liability Company |
|
|
|
|
Line of Business : |
Import and Distribution of Dried Bakery Products and Basmati Rice |
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 |
|
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 :
SYED SHAHAB FOODSTUFF TRADING CO LLC
Country of Origin :
Legal Form :
Limited Liability Company - LLC
Registration Date :
8th April 2006
Commercial Registration Number : 372661, Sharjah
Trade Licence Number :
542531
Chamber Membership Number :
72606
Issued Capital :
UAE Dh 150,000
Paid up Capital :
UAE Dh 150,000
Total Workforce :
12
Activities :
Distributors of dried bakery products and basmati rice.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit :
US$ 150,000
Person Interviewed :
Nadeem Sayed, Commercial Manager
COMPANY NAME
SYED SHAHAB FOODSTUFF TRADING CO LLC
ADDRESS
Registered & Physical Address
Building :
Area : Industrial
Area No. 10
PO Box : 66096
Town : Sharjah
Country :
Telephone : (971-6) 5350460 / 5654242
Facsimile : (971-6) 5350461
Email : info@ssfoodstuff.com
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Industrial Area of Sharjah.
KEY PRINCIPALS
Name Nationality Position
· Mohamed Ali Kamal Emirati Managing
Director
· Syed Shahab Hussain Canadian Director
· Marouf Sidiqi - General
Manager
· Nadeem Sayed - Commercial
Manager
· Patrick D’Souza - Finance
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 8th April
2006
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 372661, Sharjah
Trade Licence No. : 542531
Chamber Member No. : 72606
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder (s) Percentage
· Mohamed Ali Kamal 51%
· Syed Shahab Hussain 49%
OPERATIONS
Activities: Engaged in the import and distribution of dried bakery products and
basmati rice.
Import Countries:
International Suppliers:
· TWI Food
· National Brand
Brand Names: CRISPY
Operating Trend: Steady
Subject has a workforce of 12 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 9,670,000 UAE Dh
10,300,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
National Bank of Sharjah
PO Box: 4
Sharjah
Tel:
(971-6) 5547747
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
This rating
serves as a reference to assess credit risk and for setting the amount of credit
to be extended. It is calculated using information such as Financial data,
Operational size, Payment record, Ownership background and market trend.
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.45.07 |
|
|
1 |
Rs.72.97 |
|
Euro |
1 |
Rs.63.57 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.