|
Report Date : |
14.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
AL SAAEI TRADING LLC |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
09.07.2007 |
|
|
|
|
Com. Reg. No.: |
1013063, |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Distributors of stainless steel kitchenware, metals, ready made garments and general foodstuffs |
|
|
|
|
No. of Employees : |
11 |
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) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company Name : AL SAAEI TRADING LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 9th July 2007
Commercial Registration Number : 1013063,
Trade Licence Number : 597878
Chamber Membership Number : 121383
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 11
Activities : Distributors of stainless steel kitchenware, metals, ready made
garments and general foodstuffs.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
AL SAAEI TRADING
LLC
Registered &
Physical Address
Building :
Street :
Area : Deira
PO Box : 241563
Town :
Country :
Telephone : (971-4) 2225415 / 2356583
Facsimile : (971-4) 2228495 / 2356584
Email : info@alsaaei.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Eshwar
Choudhry Navi Indian Managing
Director
·
Matish
Ramchand Solanki Indian Director
·
Arup
Bose Anil Kumar Bos Indian Director
·
Hussain
Murad Ibrahim Al Balooshi Emirati Director
Date of Establishment : 9th
July 2007
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1013063,
Trade Licence No. : 597878
(Expires 08/07/2012)
Chamber Member No. : 121383
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Hussain
Murad Ibrahim Al Balooshi 51%
·
Eshwar Choudhry
Navi ]
]
·
Matish
Ramchand Solanki ] 49%
]
·
Arup
Bose Anil Kumar Bos ]
Activities: Engaged in the import and distribution of
stainless steel kitchenware, metals, ready made garments and general
foodstuffs.
Import Countries:
Operating Trend: Steady
Subject has a
workforce of 11 employees.
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales UAE Dh
11,825,000 UAE Dh
12,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Standard
Chartered Bank
PO Box: 999
Tel: (971-4) 2520455
·
PO Box: 1080
Tel: (971-4) 2953000
Fax: (971-4) 2954111
·
Habib
Bank Ltd
Murshid Bazaar
PO Box: 888
Tel: (971-4) 2221281
Fax: (971-4) 2284631
No complaints
regarding subject’s payments have been reported.
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.55.85 |
|
|
1 |
Rs.86.88 |
|
Euro |
1 |
Rs.69.88 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.