MIRA INFORM REPORT
|
Report Date : |
20.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHARAF DG LLC |
|
|
|
|
Registered Office : |
Al Hilal Building,
Ground Floor, Sheikh Rashid Road, Garhoud Area , P O Box 576 , Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Date of Incorporation : |
09.11.2002 |
|
|
|
|
Com. Reg. No.: |
60797, Dubai |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Operators of department stores |
|
|
|
|
No. of Employees
: |
500 |
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$ 500,000 |
|
|
|
|
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 |
Company Name : SHARAF DG LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 9th November 2002
Commercial Registration Number : 60797, Dubai
Trade Licence Number : 538868
Chamber Membership Number : 73223
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 500
Activities : Operators of department stores
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 500,000
SHARAF DG LLC
Registered &
Physical Address
Building : Al Hilal Building, Ground Floor
Street : Sheikh Rashid Road
Area :
Garhoud Area
PO Box : 576
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3156700 / 2530500
Facsimile : (971-4) 3374245 / 2820818
Email : info@sharafdg.com / support@sharafdg.com
Premises
Subject operates
from a large suite of offices and a warehouse that are rented and located in
the Central Business Area of Dubai.
Branch Offices
Subject has 21 department stores throughout the United Arab Emirates.
Name Nationality Position
·
Ibrahim
Al Sayed Mohamed Hussain Sharaf Emirati Managing Director
·
Sharafuddin
Sayed Mohamed Hussain Sharaf Emirati Director
Date of Establishment : 9th
November 2002
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 60797, Dubai
Trade Licence No. : 538868
(Expires 21/10/2012)
Chamber Member No. : 73223
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s)
·
Ibrahim
Al Sayed Mohamed Hussain Sharaf
·
Sharafuddin
Sayed Mohamed Hussain Sharaf
·
Sharaf
Investment Co LLC
Dubai
Activities: Engaged as operators of department stores, selling
cameras, computer equipment, mobile telephones, GPS systems and other household
electrical appliances.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of approximately 500 employees.
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.
·
Standard
Chartered Bank
Khalid Bin Waleed Street
PO Box: 999
Dubai
Tel: (971-4) 2520455
No complaints
regarding subject’s payments have been reported.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the business is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.12 |
|
UK Pound |
1 |
Rs.79.37 |
|
Euro |
1 |
Rs.66.02 |
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.