MIRA
INFORM REPORT
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Report Date : |
07.10.2011 |
IDENTIFICATION DETAILS
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Name : |
ALI SALEH TRADING CO LLC |
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Registered Office : |
Al Zarvo Building, 2nd Floor, Suite No. 201-203 Murshid Bazaar
Deira PO Box 6199 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 : |
03.05.1986 |
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Com. Reg. No.: |
44165, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Distributors of ready made garments, footwear, luggage, perfumes and cosmetics. |
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 : ALI SALEH TRADING CO LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 3rd May 1986
Commercial Registration Number : 44165, Dubai
Trade Licence Number : 205153
Chamber Membership Number : 100
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 12
Activities : Distributors of ready made garments, footwear, luggage, perfumes and
cosmetics.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
ALI SALEH TRADING CO LLC
ADDRESS
Registered & Physical Address
Building : Al Zarvo
Building, 2nd Floor, Suite No. 201-203
Street : Murshid
Bazaar
Area : Deira
PO Box : 6199
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2252432
/ 2254273 / 2291465 / 3338782
Facsimile : (971-4)
2254270
Email : alisaleh@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
· Vassanavi Hiro
Dingomal Indian Managing Director
· Mohamed Ali Saleh
Ali Emirati Director
· Bala Subramanian - Commercial
Manager
· Alfredo Aguilar - Financial
Controller
LEGAL FORM & OWNERS
Date of
Establishment : 3rd
May 1986
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 44165, Dubai
Trade Licence No. : 205153 (Expires 23/04/2012)
Chamber Member No. : 100
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Mohamed Ali Saleh
Ali 51%
· Vassanavi Hiro
Dingomal 49%
OPERATIONS
Activities: Engaged in the import and distribution of ready made garments,
footwear, luggage, perfumes and
cosmetics.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 12 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 9,150,000 UAE Dh
9,475,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
Emirates Bank International Ltd
Baniyas Road
Deira
PO Box: 2923
Dubai
Tel: (971-4)
2256256 / 2256900
Fax: (971-4)
2268005 / 2267718
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
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Indian Rupees |
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US Dollar |
1 |
Rs.49.19 |
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|
1 |
Rs.75.92 |
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Euro |
1 |
Rs.65.44 |
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 |
-- |
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.