MIRA INFORM
REPORT
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Report Date : |
24.10.2011 |
IDENTIFICATION DETAILS
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Name : |
AL QUDWA FOODSTUFF CO LLC |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
24.03.2002 |
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Com. Reg. No.: |
61667, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of general foodstuff products and beverages |
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$ 400,000 |
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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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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 : AL QUDWA FOODSTUFF CO LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 24th March 2002
Commercial Registration Number : 61667, Dubai
Trade Licence Number : 532696
Chamber Membership Number : 67822
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 22
Activities : Distributors of general foodstuff products and beverages.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 400,000
Person Interviewed : Mohamed Basel, Marketing Manager
COMPANY NAME
AL QUDWA FOODSTUFF
CO LLC
company ADDRESS
Registered & Physical Address
Building :
Street :
Area : Al Muraqqabat,
Deira
PO Box : 26679
Town :
Country :
Telephone : (971-4) 2977937
Facsimile : (971-4) 2977936
Email : sales@qudwatrd.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Mohamed
Raef Mohamed Saeed Maree Syrian Managing Director
·
Khalid
Ahmed Fouad Hassan Emirati Director
·
Mohamed
Firas - General
Manager
·
Mohamed
Basel - Marketing
Manager
·
Mohamed
Shafeeq - Finance
Manager
·
Abdul
Mawla Al Zubai - Purchasing
Manager
LEGAL FORM & OWNERS
Date of Establishment : 24th
March 2002
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 61667,
Trade Licence No. : 532696
(Expires 22/03/2012)
Chamber Member No. : 67822
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Khalid
Ahmed Fouad Hassan 51%
·
Mohamed
Raef Mohamed Saeed Maree 49%
OPERATIONS
Activities: Engaged in the import and distribution of
general foodstuff products and beverages.
Subject sells certified Halal
lamb, chicken, beef and frozen fish across the UAE,
Import
Countries: Europe,
International
Suppliers:
·
Mid
Field
·
Tower
Thomson
·
·
Hana
Operating Trend: Steady
Subject has a
workforce of 22 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales UAE Dh
19,500,000 UAE Dh
21,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Mohamed Basel, Marketing Manager
BANKERS
·
Emirates
Bank International Ltd
Deira
PO Box: 2923
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.07 |
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UK Pound |
1 |
Rs.79.15 |
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Euro |
1 |
Rs.69.03 |
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 |
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.