MIRA INFORM REPORT

 

 

Report Date :

08.06.2012

 

IDENTIFICATION DETAILS

 

Name :

BURHANI GLASS FACTORY LLC

 

 

Registered Office :

Ras Al Khor Road, Ras Al Khor Industrial Area, P O Box  294214, Dubai

 

 

Country :

United Arab Emirates 

 

 

Date of Incorporation :

07.09.2005

 

 

Com. Reg. No.:

76079, Dubai

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacturers of glassware, traditional art works and handicrafts

 

 

No. of Employees :

50

 

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                         : BURHANI GLASS FACTORY LLC

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Limited Liability Company - LLC

Registration Date                                   : 7th September 2005

Commercial Registration Number            : 76079, Dubai

Trade Licence Number                            : 572982

Chamber Membership Number                : 100796

Issued Capital                                        : UAE Dh 1,000,000

Paid up Capital                                      : UAE Dh 1,000,000

Total Workforce                                     : 50

Activities                                               : Manufacturers of glassware, traditional art works and handicrafts

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

 

 

 

COMPANY NAME

 

BURHANI GLASS FACTORY LLC

 

 

company ADDRESS

 

Registered & Physical Address

Street               : Ras Al Khor Road

Area                 : Ras Al Khor Industrial Area

PO Box             : 294214

Town                 : Dubai

Country             : United Arab Emirates

Telephone         : (971-4) 3200448

Facsimile          : (971-4) 3200449

Email                : info@burhaniglass.ae

 

Premises

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

 

 

KEY PRINCIPALS

 

     Name                                                          Nationality                               Position

·       Huzaifa Shabbir Jamangerwala                       Tanzanian                                 Managing Director

·       Shabbir Kaderali Jamangerwala                      Tanzanian                                 Director

·       Taher Saifuddin Yousuf Ali                             Tanzanian                                 Director

·       Ali Asghar Shabbir Jamangerwala                   Tanzanian                                 Director

·       Sultan Saif Sultan Abdullah Al Mutawa            Emirati                                      Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 7th September 2005

 

Legal Form                  : Limited Liability Company - LLC

 

Commercial Reg. No.  : 76079, Dubai

 

Trade Licence No.       : 572982 (Expires 06/09/2012)

 

Chamber Member No. : 100796

 

Issued Capital              : UAE Dh 1,000,000

 

Paid up Capital            : UAE Dh 1,000,000

 

Name of Shareholder (s)                                                     Percentage

·       Sultan Saif Sultan Abdullah Al Mutawa                                    51%

·       Huzaifa Shabbir Jamangerwala                                               20%

·       Shabbir Kaderali Jamangerwala                                              12%

·       Taher Saifuddin Yousuf Ali                                                     10%

·       Ali Asghar Shabbir Jamangerwala                                             7%

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of glassware, traditional art works and handicrafts.

 

Subject’s products include, tempered, double glazed, acoustic, artistic, bullet resistant, heat strengthened, laminated, heat soak tested and fire resistant glass.

 

Import Countries: Europe and Japan.

 

Subject has a workforce of 50 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

Baniyas Road

Deira

PO Box: 2923

Dubai

Tel: (971-4) 3160316

Fax: (971-4) 2264302

 

 

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.55.15

UK Pound

1

Rs.85.22

Euro

1

Rs.69.24

 

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.