MIRA
INFORM REPORT
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Report Date : |
01.02.2012 |
IDENTIFICATION DETAILS
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Name : |
RAKHA AL KHALEEJ INTERNATIONAL LLC |
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Registered Office : |
National Bank of Umm Al Quwain Building, 7th Floor, Suite 701
Khalid Ibn Al Waleed Street Bur Dubai PO Box 55157 Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
12.06.1990 |
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Com. Reg. No.: |
45177, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and distribution of chemicals. |
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No. of Employees : |
12 |
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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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UAE |
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 : RAKHA AL KHALEEJ INTERNATIONAL LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 12th June 1990
Commercial Registration Number : 45177, Dubai
Trade Licence Number : 223075
Chamber Membership Number : 19407
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Total Workforce : 12
Activities : Import and distribution of chemicals.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
RAKHA AL KHALEEJ INTERNATIONAL LLC
ADDRESS
Registered & Physical Address
Building : National
Bank of Umm Al Quwain Building, 7th Floor, Suite 701
Street : Khalid Ibn
Al Waleed Street
Area : Bur Dubai
PO Box : 55157
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 3977999
Facsimile : (971-4)
3972555
Mobile : (971-50)
4549985
Email : rakha@emirates.net.ae
/ rai@rai-uae.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
· Saeed Mohamed
Saeed Al Sayed Hamid Al Naqeeb Kuwaiti Managing
Director
· Mohamed Rashid
Abdul Samad Al Kaitoob Emirati Director
· Arul Dhasan - General
Manager
· Seecharaman
Kabvisari - Finance Manager
· Karthik Nurnida - Commercial
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 12th
June 1990
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 45177, Dubai
Trade Licence No. : 223075
Chamber Member No. : 19407
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Name of Shareholder (s) Percentage
· Mohamed Rashid
Abdul Samad Al Kaitoob 51%
· Saeed Mohamed
Saeed Al Sayed Hamid Al Naqeeb 49%
AFFILIATED COMPANIES
· Specialised System
Co
Safat
Kuwait
OPERATIONS
Activities: Engaged in the import and distribution of chemicals.
Import Countries: India and China.
Operating Trend: Steady
Subject has a workforce of 12 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales UAE
Dh 11,000,000 UAE Dh
11,700,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
Emirates Bank International Ltd
Beniyas Road
Deira
PO Box: 2923
Dubai
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.49.68 |
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1 |
Rs.78.17 |
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Euro |
1 |
Rs.65.52 |
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 |
-- |
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.