MIRA
INFORM REPORT
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Report Date : |
19.11.2011 |
IDENTIFICATION DETAILS
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Name : |
ZENATH PAPER TRADERS LLC |
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Registered Office : |
Gulf Air Building Salahudeen Road Deira PO Box 7113 Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
03.07.1988 |
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Com. Reg. No.: |
69728, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and export of waste paper as well as supplying paper and paper products. |
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$ 500,000 |
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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 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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UAE |
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 : ZENATH PAPER TRADERS LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 3rd July 1988
Commercial Registration Number : 69728, Dubai
Trade Licence Number : 217197
Chamber Membership Number : 14004
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 125
Activities : Import and export of waste paper as well as supplying paper and paper
products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 500,000
COMPANY NAME
ZENATH PAPER TRADERS LLC
ADDRESS
Registered & Physical Address
Building : Gulf Air
Building
Street : Salahudeen
Road
Area : Deira
PO Box : 7113
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2713006
/ 7076148
Facsimile : (971-4)
2713003
Email : zenath@etaascon.com
/ zenath@etazenath.com
Premises
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Dubai.
Branch Office (s)
Location Description
· PO Box: 3532 Rented
sales office
Abu Dhabi
Tel: (971-2)
5541570
Fax: (971-2)
5541580
KEY PRINCIPALS
Name Nationality Position
· Ahmad Abdullah
Ahmad Al Ghurair Emirati Managing Director
· Khalid Abdullah
Ahmad Al Ghurair Emirati Director
· M P P Abdullah - General
Manager
· Raja Mohamed - Commercial
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 3rd
July 1988
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 69728, Dubai
Trade Licence No. : 217197 (Expires 29/06/2012)
Chamber Member No. : 14004
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Amana Investment
Limited 48%
Hong Kong
· Ahmad Abdullah
Ahmad Al Ghurair 45%
· Khalid Abdullah
Ahmad Al Ghurair 7%
AFFILIATED COMPANIES
· Zenath General Land Transport
Dubai
· Zenath Power System LLC
Dubai
· Zenath Metal Industries LLC
Dubai
OPERATIONS
Activities: Engaged in the import and export of waste paper as well as supplying
paper and paper products.
Import Countries: Yemen, Kuwait, Lebanon, Egypt and Iran.
Export Countries: India. Subject exports 118,000 metric tonnes of
waste paper per annum.
Subject has a workforce of approximately 125 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
·
Mashreq Bank Plc
Deira Branch
PO Box: 1250
Dubai
Tel: (971-4)
2229131 / 2221134
Fax: (971-4)
2233784
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.35 |
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|
1 |
Rs.80.97 |
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Euro |
1 |
Rs.69.26 |
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.