MIRA
INFORM REPORT
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Report Date : |
10.02.2012 |
IDENTIFICATION DETAILS
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Name : |
TRANS GULF TRADING LLC |
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Registered Office : |
Jebel Ali Industrial Area PO Box
55409 & 83059 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 : |
23.04.2006 |
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Com. Reg. No.: |
80314, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Distributors of scrap metals, non-ferrous metals and primary materials. |
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No. of Employees : |
10 |
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$ 1,500,000 |
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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 : TRANS GULF TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 23rd April 2006
Commercial Registration Number : 80314, Dubai
Trade Licence Number : 580513
Chamber Membership Number : 106827
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 10
Activities : Distributors of scrap metals, non-ferrous metals and primary materials.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 1,500,000
Person Interviewed : Khalil Rahman, Finance Manager
COMPANY NAME
TRANS GULF TRADING LLC
ADDRESS
Registered & Physical Address
Location : Jebel Ali
Industrial Area
PO Box : 55409 &
83059
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 8801524
Facsimile : (971-4)
8801514
Email : finance@tggroup.ae
/ info@tggroup.ae
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Industrial Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
· Habeeb Ahmed
Mubarak Belgian Managing
Director
· Uzair Ahmed Iqbal Indian Director
· Majid Saif Ahmed
Al Ghurair Emirati Director
· Khalil Rahman - Finance
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 23rd
April 2006
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 80314, Dubai
Trade Licence No. : 580513 (Expires 22/04/2012)
Chamber Member No. : 106827
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Majid Saif Ahmed
Al Ghurair 51%
· Habeeb Ahmed
Mubarak 25%
· Uzair Ahmed Iqbal 24%
AFFILIATED COMPANIES
· Trans Gulf
Aluminium LLC
PO Box: 55409
Dubai
Tel: (971-4)
8801524
Fax: (971-4)
8801514
· Wood Packer
Pallets LLC
Dubai
OPERATIONS
Activities: Engaged in the import and distribution of scrap metals, non-ferrous
metals and primary materials.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 10 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 150,000,000 UAE Dh
154,000,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Khalil Rahman, Finance Manager
BANKERS
·
HSBC Bank Middle East
Deira Souk Branch
PO Box:
66
Dubai
Tel:
(971-4) 2535000
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.49.29 |
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|
1 |
Rs.78.10 |
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Euro |
1 |
Rs.65.59 |
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.