MIRA INFORM
REPORT
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Report Date : |
31.10.2011 |
IDENTIFICATION DETAILS
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Name : |
SAHAR ENTERPRISES LLC |
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Registered Office : |
Al |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
03.02.1979 |
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Com. Reg. No.: |
41978, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Import and Distribution of General Foodstuff 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$ 350,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Usually Correct |
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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 30th, 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 :
SAHAR ENTERPRISES LLC
Country of Origin :
Legal Form :
Limited Liability Company - LLC
Registration Date :
3rd February 1979
Commercial Registration Number :
41978,
Trade Licence Number :
206423
Chamber Membership Number :
5170
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
110
Activities :
Import and distribution of general foodstuff products.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Recommended Credit Limit :
US$ 350,000
COMPANY NAME
SAHAR ENTERPRISES LLC
company ADDRESS
Registered & Physical Address
Building : Al
Street :
PO Box : 7329
Town :
Country :
Telephone : (971-4) 2671122
/ 2671577 / 2671977
Facsimile : (971-4)
2671918
Email : alkabeer@emirates.net.ae / info@al-kabeer.com
Premises
Subject operates from a medium sized suite of offices and a warehouse
that are rented and located in the Suburban Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
· Suresh Chandra
Subberwal Indian Managing
Director
· Altaf Ghulamuddin
Shaikh Indian Director
· Atwal Subberwal Indian Director
· Ibrahim Abdullah
Mohamed Al Abdooli Emirati Director
· Ashraf Ibrahim - Sales
Manager
· Ahmed Khan - General
Manager
· Dinesh Shukla - Financial
Controller
LEGAL FORM & OWNERS
Date of
Establishment : 3rd
February 1979
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 41978,
Trade Licence No. : 206423 (Expires 02/02/2012)
Chamber Member No. : 5170
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Ibrahim Abdullah
Mohamed Al Abdooli 51%
· Suresh Chandra
Subberwal 39%
· Altaf Ghulamuddin
Shaikh 5%
· Atwal Subberwal 5%
AFFILIATED COMPANIES
· Al Sabah Food LLC
Tel:
(971-2) 6733006
Fax:
(971-2) 6733043
· Sahar Food
Industry LLC
· Cascade Marine
Food LLC
Sharjah
OPERATIONS
Activities: Engaged in the import and distribution of general foodstuff products,
including fresh and frozen meat and poultry.
Import Countries:
Operating Trend: Steady
Subject has a workforce of 110 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 14,385,000 UAE Dh
15,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
ABN Amro Bank
Deira Branch
PO Box: 2567
Tel: (971-4)
3512200
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
Date of
transaction August
2008
Credit amount 74,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Euros
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.48.82 |
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|
1 |
Rs.78.57 |
|
Euro |
1 |
Rs.69.29 |
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.