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Report Date : |
31.10.2013 |
IDENTIFICATION DETAILS
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Name : |
AL KHAIR AUTO
SPARE PARTS CO LLC |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
09.12.1997 |
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Com. Reg. No.: |
50191, |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Distributors of
automotive spare parts and related accessories. |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
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 : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 country
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 KHAIR AUTO SPARE
PARTS CO LLC
Country of Origin :
Legal Form :
Limited Liability Company - LLC
Registration Date : 9th
December 1997
Commercial
Registration Number : 50191,
Trade Licence
Number : 502382
Chamber Membership
Number : 46472
Issued Capital : UAE Dh
1,000,000
Paid up Capital : UAE Dh
1,000,000
Total Workforce : 10
Activities :
Distributors of automotive spare parts and related accessories.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mohamed
Ghazanfar Ali, Sales & Finance Manager
AL KHAIR AUTO SPARE
PARTS CO LLC
Building :
Street :
Area : Naif
PO Box : 39850
Town :
Country :
Telephone : (971-4) 2241479
Facsimile : (971-4) 2240731
Email : smartone@emirates.net.ae
Subject operates
from a small suite of offices, a showroom and a warehouse that are rented and
located in the Suburban Business Area of Dubai.
Name Nationality Position
·
Mohamed
Ali Akbar Ali Mohamed Ali Dhalla Kenyan Managing Director
·
Akbar
Ali Mohamed Ali Dhalla Kenyan Director
·
Sukaina
Akbar Ali Mohamed Tanzanian Director
·
Mohamed
Obaid
·
Mohamed
Ghazanfar Ali - Sales
& Finance Manager
·
Raheel
Abbas - Showroom
Manager
·
Sayed
Hashem - Sales
Executive
Date of Establishment : 9th
December 1997
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 50191,
Trade Licence No. : 502382
(Expires 15/11/2013)
Chamber Member No. : 46472
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
·
Mohamed
Obaid
·
Mohamed
Ali Akbar Ali Mohamed Ali Dhalla 17%
·
Akbar
Ali Mohamed Ali Dhalla 16%
·
Sukaina
Akbar Ali Mohamed 16%
Activities: Engaged in the import and distribution of
automotive spare parts and related accessories specialising in Japanese brands.
Import Countries: Europe and
International
Suppliers:
·
HKT
·
JMB
Export Countries: Subject exports to
Brand Name: AK
Operating Trend: Steady
Subject has a
workforce of 10 employees.
Financial highlights
provided by local sources are given below:
Currency:
Year
Ending 31/12/11: Year
Ending 31/12/12:
Total Sales UAE Dh 6,750,000 UAE Dh 7,180,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
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.
Established in
1997, subject is involved in the import and distribution of automotive spare
parts and related accessories.
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
company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.49 |
|
|
1 |
Rs.98.71 |
|
Euro |
1 |
Rs.84.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.