MIRA INFORM
REPORT
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Report Date : |
21.04.2012 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Ahmad Abdullah Al
Moosa Building, Al Mussalla Street, Al Rigga, Deira, P O Box 21516 |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
16.12.1990 |
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Com. Reg. No.: |
46322, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesale and retail of automotive spare parts, lubricants and greases, paints and polish and workshop hardware |
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No. of Employees
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18 |
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, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
Company Name :
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 16th December 1990
Commercial Registration Number : 46322,
Trade Licence Number : 224012
Chamber Membership Number : 20276
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 18
Activities : Wholesale and retail of automotive spare parts, lubricants and greases,
paints and polish and workshop hardware
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Bachiter Singh Choudary, Finance Manager
Registered &
Physical Address
Building : Ahmad Abdullah Al Moosa Building
Street :
Area : Al Rigga, Deira
PO Box : 21516
Town :
Country :
Telephone : (971-4) 2226220 / 3474686 / 2272425
Facsimile : (971-4) 2233189
Email : stannet@emirates.net.ae
Premises
Subject operates from
a small suite of offices and a showroom that are rented and located in the
Central Business Area of Dubai.
Name Nationality Position
·
Paramjeet
Singh Kohli Indian Managing
Director
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Gasget
Singh Paramjeet Singh Kohli Indian Director
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Ahmad
Mohamed Abdul Karim Abdullah Al Rais Emirati Director
·
Bachiter Singh Choudary - Finance
Manager
Date of Establishment : 16th
December 1990
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 46322,
Trade Licence No. : 224012
(Expires 31/04/2012)
Chamber Member No. : 20276
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
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Ahmad Mohamed
Abdul Karim Abdullah Al Rais 51%
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Paramjeet
Singh Kohli 25%
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Gasget
Singh Paramjeet Singh Kohli 24%
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Al Sarb Auto Spare Trading LLC
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Henkel International Lubricants Industry LLC
Activities: Engaged in the wholesale and retail of
automotive spare parts, lubricants and greases, paints and polish and workshop hardware.
Import
Countries:
Brand Names: HENKEL, STANLEY, STP, SIMONISE, PRESTONE, LION
Operating Trend: Steady
Subject has a
workforce of 18 employees.
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales UAE Dh
17,000,000 UAE Dh
18,300,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Bachiter Singh Choudary, Finance Manager
·
Mashreq
Bank Plc
Deira Branch
PO Box: 1250
Tel: (971-4) 2229131 / 2221134
Fax: (971-4) 2233784
No complaints
regarding subject’s payments have been reported.
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.51.99 |
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1 |
Rs.83.54 |
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Euro |
1 |
Rs.63.40 |
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.