MIRA INFORM REPORT

 

 

Report Date :           

07.01.2012

 

IDENTIFICATION DETAILS

 

Name :

RATHATH TRADING COMPANY LLC

 

 

Registered Office :

Industrial Area No. 13, P O Box  19591, Sharjah

 

 

Country :

United Arab Emirates 

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

29.06.1990

 

 

Com. Reg. No.:

20430, Sharjah

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Distributors of marble, mosaic, granite, kitchen tops and building materials

 

 

No. of Employees :

35

 

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$ 220,000

 

 

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 30th, 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                                     : RATHATH TRADING COMPANY LLC

Country of Origin                                    : Sharjah, United Arab Emirates

Legal Form                                            : Limited Liability Company - LLC

Registration Date                                   : 29th June 1990

Commercial Registration Number                        : 20430, Sharjah

Trade Licence Number                            : 113644

Chamber Membership Number                : 25640

Issued Capital                                        : UAE Dh 150,000

Paid up Capital                                      : UAE Dh 150,000

Total Workforce                                     : 35

Activities                                               : Distributors of marble, mosaic, granite, kitchen tops and building

materials.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 220,000

Person Interviewed                                 : Rahul Ramchandani, Commercial Manager

 

COMPANY NAMe

 

RATHATH TRADING COMPANY LLC

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Industrial Area No. 13

PO Box             : 19591

Town                 : Sharjah

Country             : United Arab Emirates

Telephone         : (971-6) 5340578 / 5528326 / 5342295

Facsimile          : (971-6) 5340579 / 5361590 / 5355219

Email                : rathath@emirates.net.ae

 

Premises

Subject operates from a medium sized suite of offices and a warehouse that are rented and located in the Industrial Area of Sharjah.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       Industrial Area No. 11                                                                                    Office premises

Sharjah

Tel: (971-6) 5355218

 

·       Mussafah Industrial Area                                                                    Office premises

Abu Dhabi

Tel: (971-2) 5515624

Fax: (971-2) 5515625

 

 

KEY PRINCIPALS

 

     Name                                                          Nationality                   Position

 

·       Jaitendhara Suri                                              Indian                          Managing Director

 

·       Mohamed Abdullah Abdulaziz                                    Emirati              Director

 

·       Jackjit Gouri                                                   Canadian                     Director

 

·       Aman Bihel                                                     Indian                          Director

 

·       Neil Gouri                                                            -                            General Manager

 

·       Anoop Kumar                                                       -                            Finance Manager

 

·       Rahul Ramchandani                                             -                            Commercial Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 29th June 1990

 

Legal Form                  : Limited Liability Company - LLC

 

Commercial Reg. No.  : 20430, Sharjah

 

Trade Licence No.       : 113644

 

Chamber Member No. : 25640

 

Issued Capital              : UAE Dh 150,000

 

Paid up Capital            : UAE Dh 150,000

 

Name of Shareholder (s)                                             Percentage

 

·       Mohamed Abdullah Abdulaziz                                         51%

 

·       Jaitendhara Suri                                                            25%

 

·       Jackjit Gouri                                                                  12%

 

·       Aman Bihel                                                                    12%

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of marble, mosaic, granite, kitchen tops and building materials.

 

Import Countries: Italy, Spain, Brazil, Turkey, China and India.

 

Operating Trend: Steady

 

Subject has a workforce of 35 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: United Arab Emirates Dirham (UAE Dh)

 

                                                Year Ending 31/12/09:                Year Ending 31/12/10:

 

Total Sales                                UAE Dh 19,875,000                   UAE Dh 20,600,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Standard Chartered Bank

Al Boorj Avenue

PO Box: 5

Sharjah

     Tel: (971-6) 5357788

     Fax: (971-6) 5543604

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                              December 2005

Credit amount                                        150,000

Amount overdue                         0

Payment terms                                      60 days

Payment Method                                   Letters of Credit

Paying record                                        No Complaints

Currency                                               US Dollars

GENERAL COMMENTS

 

Established in 1990, subject is involved in the import and distribution of marble, mosaic, granite and building materials.

 

Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the company is deemed a fair trade risk.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.78

UK Pound

1

Rs.81.79

Euro

1

Rs.67.46

 

 

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.