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Report Date : |
28.11.2012 |
IDENTIFICATION DETAILS
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Name : |
AL BAWABAH AL THAHBIAH GENERAL TRADING LLC |
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Registered Office : |
Sarah Centre,
Office No. 509, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
28.03.2006 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of pharmaceutical products |
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No. of Employees : |
05 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
United Arab Emirates - ECONOMIC OVERVIEW
The UAE has an open economy with a high per capita income and
a sizable annual trade surplus. Successful efforts at economic diversification
have reduced the portion of GDP based on oil and gas output to 25%. Since the
discovery of oil in the UAE more than 30 years ago, the UAE has undergone a
profound transformation from an impoverished region of small desert
principalities to a modern state with a high standard of living. The government
has increased spending on job creation and infrastructure expansion and is
opening up utilities to greater private sector involvement. In April 2004, the
UAE signed a Trade and Investment Framework Agreement with
|
Source : CIA |
Company Name : AL BAWABAH AL THAHBIAH GENERAL TRADING LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 28th March 2006
Trade Licence Number : 540552
Chamber Membership Number : 72664
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 5
Activities : Distributors of pharmaceutical products
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Shafin Ali Bhai, Managing Director
AL BAWABAH AL
THAHBIAH GENERAL TRADING LLC
Registered &
Physical Address
Building : Sarah Centre, Office No. 509
Street :
PO Box : 96494
Town : Sharjah
Country :
Telephone : (971-6) 5684154
Facsimile : (971-6) 5684153
Email : alibhais@eim.ae
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Sharjah.
Name Nationality Position
·
Shafin
Ali Bhai Canadian Managing
Director
·
Siddiq
Essa Bhai Ismail Canadian Director
·
Sabir
Abdul Ghafour Canadian Director
·
Mohamed
Ali Rasheed Emirati Director
Date of Establishment : 28th
March 2006
Legal Form :
Limited Liability Company -
LLC
Trade Licence No. : 540552
(Expires 27/04/2013)
Chamber Member No. : 72664
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder
(s) Percentage
·
Mohamed
Ali Rasheed 51%
·
Shafin
Ali Bhai ]
]
·
Siddiq
Essa Bhai Ismail ] 49%
]
·
Sabir Abdul
Ghafour ]
Activities: Engaged in the import and distribution of
pharmaceutical products.
Import
Countries: Europe and the
Export
Countries: West and
Operating Trend: Steady
Subject has a
workforce of 5 employees.
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales US$ 88,800,000 US$ 95,000,000
Local sources consider
subject’s financial condition to be Good.
The above figures
were provided by Mr Shafin Ali Bhai, Managing Director
·
National
Bank of Sharjah
PO Box: 4
Sharjah
Tel: (971-6) 5547747
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.55.70 |
|
|
1 |
Rs.89.34 |
|
Euro |
1 |
Rs.72.35 |
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 |
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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 |
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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 |
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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 |
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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.