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MIRA INFORM REPORT

 

 

Report Date :

12.02.2012

 

IDENTIFICATION DETAILS

 

Name :

FAISAL JASSIM TRADING CO LLC

 

 

Registered Office :

Dubai Investment Park, 1871, Dubai

 

 

Country :

United Arab Emirates

 

 

Date of Incorporation :

1988

 

 

Com. Reg. No.:

44493, Dubai

 

 

Legal Form :

Limited Liability Company - LLC

 

 

Line of Business :

Distributors of air conditioning, electrical fittings, measuring & control systems, pumps, engines, valves & spare parts, solar energy systems & components, ventilators, fans, water cooling & heating equipment and water heaters.

 

 

No. of Employees :

800

 

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

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : FAISAL JASSIM TRADING CO LLC

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Limited Liability Company – LLC

Start Date                                             : 1988

Registration Date                                   : 14th March 1995

Commercial Registration Number            : 44493, Dubai

Trade Licence Number                            : 237198

Chamber Membership Number                : 33568

Issued Capital                                        : UAE Dh 450,000

Paid up Capital                                      : UAE Dh 450,000

Total Workforce                                     : 800

Activities                                               : Distributors of air conditioning, electrical fittings, measuring & control systems, pumps, engines, valves & spare parts, solar energy systems &

components, ventilators, fans, water cooling & heating equipment and water heaters.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 200,000

 

COMPANY NAME

 

FAISAL JASSIM TRADING CO LLC

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : Dubai Investment Park

 

PO Box             : 1871

 

Town                 : Dubai

Country             : United Arab Emirates

 

Telephone         : (971-4) 8105100 / 8105105

Facsimile          : (971-4) 8105106

Email                : fjtrdg@emirates.net.ae

 

Premises

 

Subject operates from a suite of offices and a warehouse, covering 22,000 square metres that are rented and located in the Central Business Area of Dubai.

 

Branch Office (s)

 

     Location                                                                                                       Description

    

·       Al Qusais                                                                                                     Showroom premises

PO Box: 1871

Dubai

Tel: (971-4) 2582640

Fax: (971-4) 2582641

 

·       PO Box: 10638                                                                                             Warehouse premises

Abu Dhabi

Tel: (971-2) 6219772

Fax: (971-2) 6219773

 

 

KEY PRINCIPALS

 

     Name                                                           Nationality                                 Position

 

·       Rafi Saeed Abul Hassan                                Canadian                                   Managing Director

 

·       Faisal Jassim Mohamed Al Dousari                Emirati                                      Director

 

·       Raphael Raphael Khalat                                 Lebanese                                  Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1988, however subject was registered on 14th March 1995

 

Legal Form                  : Limited Liability Company - LLC

 

Commercial Reg. No.  : 44493, Dubai

 

Trade Licence No.       : 237198 (Expires 12/03/2012)

 

Chamber Member No. : 33568

 

Issued Capital              : UAE Dh 450,000

 

Paid up Capital            : UAE Dh 450,000

 

Name of Shareholder (s)                                          

 

·       Rafi Saeed Abul Hassan                               

 

·       Faisal Jassim Mohamed Al Dousari               

 

·       Raphael Raphael Khalat

 

 

AFFILIATED COMPANIES

 

·       FJ Trading & Engineering Co

PO Box: 31859

Doha

Qatar

Tel: (974) 44015777

Fax: (974) 44015775

 

·       Tawreed

PO Box: 11423

Riyadh

Saudi Arabia

Tel: (966-1) 4633338

Fax: (966-1) 2939496

 

·       FJ Engineering & Trading Co Ltd

Erbil

Iraq

Tel: (964-66) 2252916

Fax: (964-66) 2252917

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of air conditioning, electrical fittings, measuring & control systems, pumps, engines, valves & spare parts, solar energy systems & components, ventilators, fans, water cooling & heating equipment and water heaters.

 

Import Countries: Europe and the Far East

 

Subject has a workforce of approximately 800 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

 

·       Dubai Islamic Bank

PO Box: 1080

Dubai

Tel: (971-4) 2953000

Fax: (971-4) 2954111

 

 

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.49.64

UK Pound

1

Rs.78.35

Euro

1

Rs.65.79

 

 

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.