MIRA INFORM
REPORT
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Report Date : |
19.05.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
AL BARZANJI GENERAL TRADING CO LLC |
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Registered Office : |
Al Habtoor
Building, 4th Floor, Office No. 403, Al Sabkha Road, Deira, P O Box
35968, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
23.11.1998 |
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Com. Reg. No.: |
57405, Dubai |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of electronic products and automotive spare parts |
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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United Arab Emirates |
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 |
Bottom of Form
SUMMARY
Company Name : AL BARZANJI GENERAL TRADING CO LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 23rd November 1998
Commercial Registration Number : 57405, Dubai
Trade Licence Number : 508879
Chamber Membership Number : 45586
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Total Workforce : 7
Activities : Distributors of electronic products and automotive spare parts.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
AL BARZANJI GENERAL
TRADING CO LLC
company ADDRESS
Registered & Physical Address
Building : Al Habtoor Building, 4th
Floor, Office No. 403
Street : Al Sabkha Road
Area : Deira
PO Box : 35968
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2262132 / 2262535
Facsimile : (971-4) 2291626
Email : alborzi@emirates.net.ae
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Yousuf
Baba Mohideen Al Barzanji Iraqi Managing Director
·
Dedar
Yousif Baba Barzanji Iraqi Director
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Sayed
Mohamed Sayed Muhi Roushen Qeyas Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 23rd
November 1998
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 57405, Dubai
Trade Licence No. : 508879
(Expires 21/11/2011)
Chamber Member No. : 45586
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Name of Shareholder
(s) Percentage
·
Sayed
Mohamed Sayed Muhi Roushen Qeyas 51%
·
Yousuf
Baba Mohideen Al Barzanji 25%
·
Dedar
Yousif Baba Barzanji 24%
OPERATIONS
Activities: Engaged in the import and distribution of
electronic products and automotive spare parts.
Import
Countries: Europe, Iraq and
the Far East.
Operating Trend: Steady
Subject has a
workforce of 7 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
11,235,000 UAE Dh
11,760,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
PO Box: 1080
Tel: (971-4) 2953000
Fax: (971-4) 2954111
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Please note that the
correct name for the subject is “Al Barzanji General Trading Co LLC” and not
“Al Barzan GTC”.
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.45.08 |
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UK Pound |
1 |
Rs.73.45 |
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Euro |
1 |
Rs.64.30 |
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 |
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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.