MIRA INFORM REPORT

 

 

Report Date :

04.04.2012

 

IDENTIFICATION DETAILS

 

Name :

DYNATRADE AUTOMOTIVE LLC

 

 

Registered Office :

Wadi Al Rafisa Street, Industrial Area No. 17, 22842 Sharjah

 

 

Country :

United Arab Emirates

 

 

Date of Incorporation :

22.08.1999

 

 

Com. Reg. No.:

27587, Sharjah

 

 

Legal Form :

Limited Liability Company - LLC

 

 

Line of Business :

Wholesalers and retailers of automotive spare parts and accessories

 

 

No. of Employees :

120

 

 

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

United Arab Emirates

A2

A

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : DYNATRADE AUTOMOTIVE LLC

Country of Origin                                    : Sharjah, United Arab Emirates

Legal Form                                            : Limited Liability Company - LLC

Registration Date                                   : 22nd August 1999

Commercial Registration Number            : 27587, Sharjah

Trade Licence Number                            : 14338

Issued Capital                                        : UAE Dh 300,000

Paid up Capital                                      : UAE Dh 300,000

Total Workforce                                     : 120

Activities                                               : Wholesalers and retailers of automotive spare parts and accessories

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 200,000

Person Interviewed                                 : Sabastian Babu, Administration Manager

 

COMPANY NAME

 

DYNATRADE AUTOMOTIVE LLC

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : Wadi Al Rafisa Street

Area                 : Industrial Area No. 17

 

PO Box             : 22842

 

Town                 : Sharjah

Country             : United Arab Emirates

 

Telephone         : (971-6) 5132000 / 5433037

Facsimile          : (971-6) 5343845 / 5422500

Email                : dynatrade@emirates.net.ae

 

Premises

 

Subject operates from a large suite of offices and a warehouse that are rented and located in the Industrial Area of Sharjah.

 

Branch Office (s)

 

     Location                                                                                           Description

 

·       Mussafah Industrial Area                                                                    Office premises

Abu Dhabi

Tel: (971-2) 5547611

 

·       Airport Road                                                                                     Office premises

Deira

Dubai

Tel: (971-4) 235982

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Hari Haran                                                                                        Managing Director

 

·       Bhart Kumar                                                                                     General Manager

 

·       Soman Gosh                                                                                    Finance Manager

 

·       Sabastian Babu                                                                                Administration Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 22nd August 1999

 

Legal Form                  : Limited Liability Company - LLC

 

Commercial Reg. No.  : 27587, Sharjah

 

Trade Licence No.       : 14338 (Expires 19/08/2012)

 

Issued Capital              : UAE Dh 300,000

 

Paid up Capital            : UAE Dh 300,000

 

Name of Shareholder (s)

 

·       Mohamed Saud Bahwan

 

·       Saud Mohamed Saud Bahwan

 

 

OPERATIONS

 

Activities: Engaged in the wholesale and retail of automotive spare parts and accessories, including tyres, lubricants and greases and batteries.

 

Import Countries: Japan and South Korea.

 

Brand Names: SACHS, WABCO, MERCEDES, VOLVO, SCANIA, MAN, RENAULT, IVECO, TOYOTA, NISSAN,

MITSUBISHI, HONDA, ISUZU, KIA and DAEWOO

 

Subject has a workforce of approximately 120 employees.

 

 

FINANCIAL DATA

 

Companies registered in Sharjah, United Arab Emirates are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

 

 

BANKERS

 

·       National Bank of Sharjah

Al Boorj Avenue

     PO Box: 4

     Sharjah

     Tel: (971-6) 5547747

 

 

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.50.56

UK Pound

1

Rs.81.04

Euro

1

Rs.67.48

 

 

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.