MIRA INFORM REPORT

 

 

Report Date :           

18.05.2011

 

IDENTIFICATION DETAILS

 

Name :

AL ZAHARA PETROCHEMICALS LLC

 

 

Registered Office :

Bank Melli Iran Building, 2nd Floor, Suite No. 204, Bank Street, P O Box 49875, Dubai

 

 

Country :

United Arab Emirates 

 

 

Date of Incorporation :

26.04.2003

 

 

Com. Reg. No.:

62435, Dubai

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Distributors of petrochemicals and related products

 

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

 

Maximum Credit Limit :

US$ 150,000

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)

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

 

 Bottom of Form

 

SUMMARY

 

Company Name                                     : AL ZAHARA PETROCHEMICALS LLC

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Limited Liability Company - LLC

Registration Date                                   : 26th April 2003

Commercial Registration Number                        : 62435, Dubai

Trade Licence Number                            : 544348

Chamber Membership Number                : 77208

Issued Capital                                        : UAE Dh 300,000

Paid up Capital                                      : UAE Dh 300,000

Total Workforce                                     : 20

Activities                                               : Distributors of petrochemicals and related products.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 150,000

 

 

COMPANY NAME

 

AL ZAHARA PETROCHEMICALS LLC

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Bank Melli Iran Building, 2nd Floor, Suite No. 204

Street               : Bank Street

PO Box             : 49875

Town                 : Dubai

Country             : United Arab Emirates

Telephone         : (971-4) 3591750 / 3595283

Facsimile          : (971-4) 3593615

 

Premises

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

 

 

KEY PRINCIPALS

 

     Name                                                                      Nationality                   Position

 

·       Mohamed Azam Amirjhan                                          Indian                            Managing Director

 

·       Radwan Mohamed Azam                                           Indian                            Director

 

·       Natalia Alexandar                                                      Emirati                          Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 26th April 2003

 

Legal Form                  : Limited Liability Company - LLC

 

Commercial Reg. No.  : 62435, Dubai

 

Trade Licence No.       : 544348

 

Chamber Member No. : 77208

 

Issued Capital              : UAE Dh 300,000

 

Paid up Capital            : UAE Dh 300,000

 

Name of Shareholder (s)                                                     Percentage

 

·       Natalia Alexandar                                                                  51%

 

·       Mohamed Azam Amirjhan                                                      25%

 

·       Radwan Mohamed Azam                                                       24%

 

 

AFFILIATED COMPANIES

 

Subject belongs to the Al Zahara group of companies that consists of the following concerns:

 

·       Al Zahara Petrochemicals LLC

Dubai

 

·       Al Zahara Petrochemicals LLC

Sharjah

 

·       Al Basma Drums Ind LLC

Sharjah

 

·       Al Zahara Petrochemicals Co Ltd

Dammam

Saudi Arabia

 

·       Five Star Petrochemicals Co Ltd

Riyadh

Saudi Arabia

 

·       Factory of Mohammed Azam for Petrochemicals Co Ltd

Saudi Arabia

 

·       Al Zahara Petrochemical

United States of America

 

·       Al Zahara Petrochemical Co Ltd

United Kingdom

 

·       Shaams Al Zahara

Muscat

Oman

 

·       Tuticorin Lubricants

Tuticorin

India

 

·       A.M.R Warehousing

Tuticorin

India

 

·       Popular Bulk Carrier

Chennai

India

 

·       Man Bulk Carriers

Mumbai

India

 

·       Al Zahara Petrochemical LLC

Manama

Bahrain

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of petrochemicals and related products.

 

Import Countries: Europe and the Far East.

 

Subject has a workforce of 20 employees.

 

 

FINANCIAL DATA

 

Companies registered in Dubai, United Arab Emirates are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

 

 

BANKERS

 

·       Bank Melli Iran

PO Box: 1894

Baniyas Square

     Dubai

     Tel: (971-4) 2216777

     Fax: (971-4) 2231589

 

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.07

UK Pound

1

Rs.63.57

Euro

1

Rs.72.97

 

 

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.