MIRA INFORM REPORT
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Report Date : |
16.11.2011 |
IDENTIFICATION DETAILS
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Name : |
ZAINAL ABDULRAHMAN & SONS CO |
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Registered Office : |
Industrial Area No.11,
P O Box 42, Sharjah |
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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 : |
26.02.1975 |
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Com. Reg. No.: |
3143, Sharjah |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of general foodstuffs |
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$ 175,000 |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
SUMMARY
Company Name : ZAINAL ABDULRAHMAN & SONS CO
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 26th February 1975
Commercial Registration Number : 3143, Sharjah
Trade Licence Number : 1833
Chamber Membership Number : 829
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 35
Activities : Distributors of general foodstuffs.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 175,000
Person Interviewed : Yonas Abdul Yonas, Finance Manager
COMPANY NAME
ZAINAL ABDULRAHMAN
& SONS CO
company ADDRESS
Registered &
Physical Address
Location : Industrial Area No.11
PO Box : 42
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5343000 / 5545569 / 5683355
Facsimile : (971-6) 5343747 / 5343738 / 5694334
Email : desco@emirates.net.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 Position
·
Abdulrahman
Zainal Managing
Director
·
Hussain
Zainal Abdulrahman Director
·
Mohamed
Abdulaziz General
Manager
·
Abdullah
Hussain Abdulrahman Sales
Manager
·
Yonas
Abdul Yonas Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 26th
February 1975
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 3143, Sharjah
Trade Licence No. : 1833
(Expires 23/04/2012)
Chamber Member No. : 829
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder
(s)
·
Abdulrahman
Zainal
·
Hussain
Zainal Abdulrahman
AFFILIATED COMPANIES
·
Tesco
Industries LLC
Sharjah
Tel: (971-6) 5343366
·
Shining
Star Detergent Factory LLC
Sharjah
Tel: (971-6) 5343366
·
Abdulrahman
& Hussain Zainal General Trading
Dubai
OPERATIONS
Activities: Engaged in the import and distribution of
general foodstuffs, including rice, milk powder, meat and poultry.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 35 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
18,720,000 UAE Dh
19,100,000
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.
GENERAL COMMENTS
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.56 |
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UK Pound |
1 |
Rs.80.30 |
|
Euro |
1 |
Rs.68.79 |
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.