MIRA INFORM REPORT

 

 

Report Date :           

12.10.2011

 

IDENTIFICATION DETAILS

 

Name :

AL REDHA INTERNATIONAL LLC

 

 

Registered Office :

Mohamed Ismail Al Afghani Building, Al Ras Street, Deira, P O Box 7203, Town Dubai

 

 

Country :

United Arab Emirates 

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

25.12.2000

 

 

Com. Reg. No.:

1061317, Dubai

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Import and distribution of foodstuff and beverages.

 

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$ 200,000

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

United Arab Emirates 

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                         : AL REDHA INTERNATIONAL LLC

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Limited Liability Company – LLC

Start Date                                             : 25th December 2000

Registration Date                                   : 23rd June 2010

Commercial Registration Number            : 1061317, Dubai

Trade Licence Number                            : 641126

Chamber Membership Number                : 184019

Issued Capital                                        : UAE Dh 300,000

Paid up Capital                                      : UAE Dh 300,000

Total Workforce                                     : 15

Activities                                               : Import and distribution of foodstuff and beverages.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

Recommended Credit Limit                     : US$ 200,000

Person Interviewed                                 : Nowshat Abdulrahim, Administration Manager

 

 

 

COMPANY NAME

 

AL REDHA INTERNATIONAL LLC

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Mohamed Ismail Al Afghani Building

Street               : Al Ras Street

Area                 : Deira

PO Box             : 7203

Town                 : Dubai

Country             : United Arab Emirates

Telephone         : (971-4) 2291406 / 2291407

Facsimile          : (971-4) 2291408

Mobile               : (971-50) 6563421 / 6777805

Email                : alredhar@emirates.net.ae

 

Premises

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

 

Branch Offices

 

            Location                                                                                                          Description

 

·       Al Awir Industrial Area                                                                                   Warehouse premises

Dubai

Tel: (971-4) 3335393

Fax: (971-4) 3335394

 

 

KEY PRINCIPALS

 

     Name                                                                      Nationality                   Position

 

·       Kishore Rajwani Chandi                                                Indian                         Managing Director

 

·       Radha Kishore Rajwani Chandi                                      Indian                         Director

 

·       Musabeh Mohamed Sultan Obaid Al Suwaidi                 Emirati                        Director

 

·       Nowshat Abdulrahim                                                         -                            Administration Manager

 

·       Kishore Jamnani                                                              -                            Sales Manager

 

·       Jay Raj                                                                            -                            Financial Controller

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 25th December 2000, however subject was registered on 23rd June 2010.

 

Legal Form                  : Limited Liability Company – LLC

 

Commercial Reg. No.  : 1061317, Dubai

 

Trade Licence No.       : 641126

 

Chamber Member No. : 184019

 

Issued Capital              : UAE Dh 300,000

 

Paid up Capital            : UAE Dh 300,000

 

Name of Shareholder (s)                                                          Percentage

 

·       Musabeh Mohamed Sultan Obaid Al Suwaidi                                51%

 

·       Kishore Rajwani Chandi                                                              40%

 

·       Radha Kishore Rajwani Chandi                                                      9%

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of foodstuff and beverages, including fruit and vegetables, spices and condiments, Thai products and consumer goods, such as sprays, candles, sweets and towels.

 

Import Countries: Austria, Thailand, China, India, Hong Kong and Spain.

 

International Suppliers:

 

·       NB Value Link Co Ltd            Thailand

·       Marsh                                  United States of America

·       Pfanner                                Austria

·       Lee Kum Kee                        Hong Kong

·       Harvest King                         Thailand

·       Aeroplane                             India

 

Brand Names: COOL DRINKS

 

Operating Trend: Steady

 

Subject has a workforce of 15 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 9,280,000                     UAE Dh 9,750,000

 

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

 

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

 

 

BANKERS

 

·       Union National Bank

Baniyas Street

PO Box: 6811

Dubai

Tel: (971-4) 2211188

 

·       Habib Bank Ltd

Murshid Bazaar

PO Box: 888

Dubai

Tel: (971-4) 2221281

Fax: (971-4) 2284631

 

·       National Bank of Umm Al Quwain

Khalid Bin Al Waleed Street

PO Box: 9175

Dubai

Tel: (971-4) 3975382

Acc No. 0085184340

 

 

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.49.03

UK Pound

1

Rs.76.60

Euro

1

Rs.66.80

 

 

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.