MIRA INFORM REPORT

 

 

Report Date :

04.08.2012

 

IDENTIFICATION DETAILS

 

Name :

AL SHARQ AL AQSSA TRADING CO LLC

 

 

Registered Office :

Jebel Ali Free Zone, Plot No. MOD 1-64, Between 6th & 7th Roundabout, P O Box 17044, Dubai

 

 

Country :

United Arab Emirates 

 

 

Year of Establishment :

1991

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Import and distribution of general foodstuff and consumer goods

 

 

No. of Employees :

180

 

 

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

 

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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 SHARQ AL AQSSA TRADING CO LLC

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Limited Liability Company – LLC

Start Date                                             : 1991

Registration Date                                   : 6th June 1995

Trade Licence Number                            : 238033

Membership Number                              : 34353

Issued Capital                                        : UAE Dh 300,000

Paid up Capital                                      : UAE Dh 300,000

Total Workforce                                     : 180

Activities                                               : Import and distribution of general foodstuff and consumer goods.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

 

 

COMPANY NAME

 

AL SHARQ AL AQSSA TRADING CO LLC

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Jebel Ali Free Zone, Plot No. MOD 1-64, Between 6th & 7th Roundabout

PO Box             : 17044

Town                 : Dubai

Country             : United Arab Emirates

Telephone         : (971-4) 8815211 / 8819739

Facsimile          : (971-4) 8815404

Email                : info@asaat.com

 

Premises

Subject operates from a medium sized suite of offices and a warehouse that are rented and located in the Jebel Ali Free Zone.

 

Branch Offices

 

     Location                                                                                          Description

 

·       Al Quoz Industrial Area                                                                      Warehouse premises

PO Box: 2630

Dubai

Tel: (971-4) 3406635

Fax: (971-4) 3407735

 

·       PO Box: 2627                                                                                   Warehouse premises

Abu Dhabi

Tel: (971-2) 5511789

Fax: (971-2) 5510960

 

·       PO Box: 2630                                                                                   Warehouse premises

Umm Al Quwain

Tel: (971-6) 7670871

Fax: (971-6) 7670872

 

·       PO Box: 19493                                                                                 Warehouse premises

Al Ain

Tel: (971-3) 7211546

Fax: (971-3) 7825494

 

 

KEY PRINCIPALS

 

     Name                                                          Nationality                   Position

 

·       Pritesh Depala                                                 Indian                         Managing Director

 

·       Neela Depala Robberstad                                  Indian                         Director

 

·       Ahmed Issa Abdullah Yousef                             Emirati                       Director

 

·       Paraful Patel                                                        -                            General Manager

 

·       Jacoub Cherrian                                                   -                            Commercial Manager

 

·       Anil Singh                                                            -                            Finance Manager

 

·       Praful Patel                                                          -                            Administration Manager

 

·       Jacoub Cherrian                                                   -                            Sales Manager

 

·       Charis Papdakim                                                  -                            Human Resources Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1991, however subject was registered on 6th June 1995

 

Legal Form                  : Limited Liability Company – LLC

 

Trade Licence No.       : 238033

 

Membership No.          : 34353

 

Issued Capital              : UAE Dh 300,000

 

Paid up Capital            : UAE Dh 300,000

 

Name of Shareholder (s)                                         Percentage

·       Ahmed Issa Abdullah Yousef                                     51%

·       Pritesh Depala                                                          25%

·       Neela Depala Robberstad                                           24%

 

 

AFFILIATED COMPANIES

 

·       Richesse Ltd

Jebel Ali Free Zone, Dubai

 

OPERATIONS

 

Activities: Engaged in the import and distribution of general foodstuff and consumer goods.

 

The distribution operation covers retail as well as FSD and has extensive coverage across the UAE, spanning Hypermarkets, Co-operatives, A & B Class Supermarkets, Convenience stores, Groceries, Wholesale trade, Catering, Flight Catering, Ship Chandlers, Hotels, Restaurants, Fast-food, Cafeterias, Coffee/Tea Shops, Institutions, Service Stations, Cinemas and Concession stands. Subject also exports and re-exports to the global market.

 

Import Countries: India, Oman, China and Europe

 

Brand Names: ROYAL, WELCOME, HOME KITCHEN, NESTLE, RAMYA, ELITE, MALIBAN, MUNCHEE,

ELEPHANT HOUSE, DAWAAT and SIPPY

 

Subject has a workforce of approximately 180 employees.

 

 

FINANCIAL DATA

 

Companies registered in Dubai, 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

 

·       Emirates Bank International Ltd

Jebel Ali Free Zone Branch

PO Box: 2923

Dubai

Tel: (971-4) 8815551

Fax: (971-4) 8815545

 

 

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.56.08

UK Pound

1

Rs.87.03

Euro

1

Rs.68.36

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.