MIRA INFORM REPORT

 

 

Report Date :

23.11.2011

 

IDENTIFICATION DETAILS

 

Name :

CENTRAL TRADING CO LLC

 

 

Registered Office :

Al Tayer Motors Building Al Ittihad Road Al Khabeesi PO Box 812 Dubai

 

 

Country :

United Arab Emirates

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

07.02.1979

 

 

Com. Reg. No.:

48648, Dubai

 

 

Legal Form :

Limited Liability Company - LLC

 

 

Line of Business :

Distributors of automotive spare parts, tyres, batteries, cooling products, oil and greases.

 

 

No. of Employees :

200 Approximately

 

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$ 850,000

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

UAE

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                                     : CENTRAL TRADING CO LLC

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Limited Liability Company - LLC

Registration Date                                   : 7th February 1979

Commercial Registration Number            : 48648, Dubai

Trade Licence Number                            : 208747

Chamber Membership Number                : 5214

Issued Capital                                        : UAE Dh 5,000,000

Paid up Capital                                      : UAE Dh 5,000,000

Total Workforce                                     : 200

Activities                                               : Distributors of automotive spare parts, tyres, batteries, cooling products, oil and greases.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 850,000

Person Interviewed                                 : Mohamed Maroof, Chief Financial Officer

 

COMPANY NAME

 

CENTRAL TRADING CO LLC

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : Al Tayer Motors Building

Street               : Al Ittihad Road

Area                 : Al Khabeesi

 

PO Box             : 812

 

Town                 : Dubai

Country             : United Arab Emirates

 

Telephone         : (971-4) 2661600

Facsimile          : (971-4) 2685529 / 2663445

Email                : ravi@alrostamani.co.ae / sales@ctc-uae.com

 

Premises

 

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

 

Branch Offices

 

     Location                                                                                           Description

 

·       Saeed Bin Mubarak Building                                                              Showroom premises

Salam Street

PO Box: 2974

Abu Dhabi

Tel: (971-2) 6414009

Fax: (971-2) 6414090

 

·       Madhab                                                                                            Showroom premises

PO Box: 221

Fujairah

Tel: (971-9) 2223187

Fax: (971-9) 2242787

 

·       Oman Road                                                                                      Showroom premises

PO Box: 14767

Ras Al Khaimah

Tel: (971-7) 2223622

Fax: (971-7) 2224591

 

·       BMW Road                                                                                       Showroom premises

PO Box: 5768

Sharjah

Tel: (971-6) 5331513

Fax: (971-6) 5325170

 

 

KEY PRINCIPALS

 

     Name                                                           Nationality                     Position

 

·       Marwan Abdullah Hassan Al Rostamani          Emirati                          Managing Director

 

·       Hassan Abdullah Hassan Al Rostamani          Emirati                          Director

 

·       Wade Attallah Wade                                           -                             Commercial Manager

 

·       Amballa Vannan                                                  -                             Finance Manager

 

·       Mohamed Maroof                                                -                             Chief Financial Officer

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 7th February 1979

 

Legal Form                  : Limited Liability Company - LLC

 

Commercial Reg. No.  : 48648, Dubai

 

Trade Licence No.       : 208747 (Expires 06/02/2012)

 

Chamber Member No. : 5214

 

Issued Capital              : UAE Dh 5,000,000

 

Paid up Capital            : UAE Dh 5,000,000

 

Name of Shareholder (s)

 

·       Abhar International Co

Dubai

 

·       Marwan Abdullah Hassan Al Rostamani

 

·       Hassan Abdullah Hassan Al Rostamani

 

 

AFFILIATED COMPANIES

 

Subject is a member of the Al Rostamani Group of Companies, which comprises the following concerns:

 

·       Al Rostamani Real Estate

 

·       Al Rostamani Euro Steel Industries

 

·       Al Rostamani Information Services

 

·       Al Rostamani Pegel

 

·       Arabian Automobiles

 

·       A.R. Summit

 

·       Al Rostamani Technologies LLC (ART)

 

·       Cimel Al Rostamani

 

·       Destinations of the World

 

·       Dubai International Securities

 

·       EMACO

 

·       General Impex

 

·       Gulf Heavy Equipment

 

·       Thomas Cook Al Rostamani

 

·       United Diesel Co

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of automotive spare parts, tyres, batteries, cooling products, oil and greases.

 

Subject offers branded products like Michelin tyres, Castrol lubricants, Blue Star air conditioners and water

coolers, FB Batteries, Bekon batteries, bottle dispensers & air conditioners, Tyre Plus, Federal tyres,

Forch, Erlac Car Care Products, Starchem, AkzoNobel, Tetrosyl Chemicals, Arexons, 3M, Alpha Beta

Masking Tapes, Rock Automotive Refinishing Paints, Japan Home Centre, Coway, CTC/LIG and Carmix

4x4 mixers and dumpers.

 

Import Countries: Europe and GCC countries.

 

Operating Trend: Steady

 

Subject has a workforce of approximately 200 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 51,880,000                   UAE Dh 53,900,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Commercial Bank of Dubai

Baniyas Street

Deira

PO Box: 1709

Dubai

Tel: (971-4) 2227121 / 2253222

     Fax: (971-4) 2220943 / 2254565

 

 

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.52.70

UK Pound

1

Rs.82.44

Euro

1

Rs.71.08

 

 

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.