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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

508900

Report Date :

15.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

DYNATRADE LLC

 

 

Registered Office :

Wadi Al Rafisa Street, Industrial Area No. 17, 22842 Sharjah

 

 

Country :

United Arab Emirates

 

 

Date of Incorporation :

27.10.1990

 

 

Legal Form :

Limited Liability Company 

 

 

Line of Business :

·         Sale of cars and light motor vehicles

·         Sale of other motor vehicles

·         Maintenance and repair of motor vehicles

 

 

No. of Employees :

1,200 (Dynatrade Automotive Group)

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

Status :

Good

 

 

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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

United Arab Emirates

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

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 from the oil and gas sector to 30%.

Since the discovery of oil in the UAE nearly 60 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. The country's free trade zones - offering 100% foreign ownership and zero taxes - are helping to attract foreign investors.

The global financial crisis of 2008-09, tight international credit, and deflated asset prices constricted the economy in 2009. UAE authorities tried to blunt the crisis by increasing spending and boosting liquidity in the banking sector. The crisis hit Dubai hardest, as it was heavily exposed to depressed real estate prices. Dubai lacked sufficient cash to meet its debt obligations, prompting global concern about its solvency and ultimately a $20 billion bailout from the UAE Central Bank and Abu Dhabi Government that was refinanced in March 2014.

The UAE’s dependence on oil is a significant long-term challenge, although the UAE is one of the most diversified countries in the Gulf Cooperation Council. Low oil prices have prompted the UAE to cut expenditures, including on some social programs, but the UAE has sufficient assets in its sovereign investment funds to cover its deficits. The government reduced fuel subsidies in August 2015, and has announced plans to introduce excise and value-added taxes by January 1, 2018. The UAE's strategic plan for the next few years focuses on economic diversification, promoting the UAE as a global trade and tourism hub, developing industry, and creating more job opportunities for nationals through improved education and increased private sector employment.

 

Source : CIA

 

 

SUMMARY 

 

 

COMPANY NAME

Dynatrade LLC

 

ADDRESS

Building

Street

Area

PO Box

Dynatrade Building

Wadi Al Rafisa Street

Industrial Area No. 17, near to Safeer Market

22842

Sharjah

TEL/FAX 

Verified Phones: (+971 6) 513 2000 / (+971 6) 513 2950 / Fax: (+971 6) 542 2500

EMAIL/WEBSITE

Email: dynatrade@emirates.net.ae / Website: www.dynatrade-uae.com

ACTIVITY

 

NACE 4511 - Sale of cars and light motor vehicles; NACE 4519 - Sale of other motor vehicles; NACE 4520 - Maintenance and repair of motor vehicles;  

PRINCIPAL 

Sheikh Mohammed Saud Salim Abdullah Bahwan

Workforce 

Chairman

1,200  

LEGAL INFO 

 

Date Of Est.

Reg. No.

Legal Form

Status

27/10/1990

113846

LLC 

Active

CAPITAL

CURRENCY

AMOUNT

AED  

500,000

             

           

IDENTIFICATION

 

CO. NAME

Dynatrade LLC

ALSO KNOWN NAME (S)

Dynatrade Motors / DYNATRADE - L.L.C

BUILDING

Dynatrade Building

STREET

Wadi Al Rafisa Street

AREA

Industrial Area No. 17, near to Safeer Market

POSTAL ADDRESS

22842 Sharjah

CITY

Sharjah

COUNTRY

United Arab Emirates

TELEPHONE

(+971 6) 513 2000 / (+971 6) 513 2950 / (+971 6) 513 2050 / Mobile (+971 50) 497 1551

FAX

(+971 6) 542 2500 / (+971 6) 513 2386 / (+971 6) 534 3845

VERIFIED EMAIL

dynatrade@emirates.net.ae

WEBSITE

www.dynatrade-uae.com

BUSINESS HOURS

DAYS

OFFICE HOURS

BREAK TIME

Sun-Thu

08:00-17:30

13:30-14:00

REGISTERED ADDRESS

Wadi Al Rafisa Street, Industrial Area No. 17, 22842 Sharjah, United Arab Emirates

FORMER ADDRESS

Al Taawun Tower, 1st Floor, Office No. 118

Al Wahda Street

Sharjah

Telephone: (+971 6) 539 0990

Fax      : (+971 6) 539 0300

 

 

SENIOR PERSONNEL

 

MANAGEMENT

NAME

POSITION

Sheikh Mohammed Saud Salim Abdullah Bahwan

Chairman 

Saud Bin Mohammed Saud Salim Abdullah Bahwan

 

Bharath Kumar

 

Reghu Nandan

 

Mr. Shashi

Director

 

 

General Manager 

 

Finance Manager 

 

Commercial Manager

WORKFORCE

NO. OF EMPLOYEES

PERIOD

1,200 (Dynatrade Automotive Group)

05.2018

13,000 (Saud Bahwan Group)

01.2018

 

 

 

FINANCIAL SUMMARY

 

REVENUE  

31/12/2017

31/12/2018 (Projected)

USD 315,000,000

USD 320,000,000

NET PROFIT / (LOSS)

not given but stated to be 5% of the sales

STOCK/INVENTORIES   

AED 290,000,000 as of May 2018

NOTES 

The following information applies to the Saud Bahwan Group (latest available):

 

Sales Turnover   : US DLRS 4,500,000,000 – 2014

 

Net Profit       : not given

 

Financial year ends 31 December.

FISCAL YEAR-END

31 December 

 

 

LEGAL STATUS 

 

INCORPORATION

27/10/1990

REGISTRATION NO.       

C.R. NUMBER

ISSUED BY  

Trade License No.: 113846

(expiry date: 23/10/2018)

Sharjah Economic Development Department (SEDD)

OTHER REGISTRATION NO.     

SCCI Membership No.: 26202 (Chamber of Commerce)

AUTHORISED CAPITAL     

AMOUNT

CURRENCY

500,000

AED

PAID-UP CAPITAL  

AMOUNT

CURRENCY 

500,000

AED

LEGAL FORM 

Limited Liability Company 

BUSINESS HISTORY 

Subject was established in United Arab Emirates on 27 October 1990 as a Proprietorship business owned by Abdullah Bin Salem Al Qassimi (UAE national).

 

In late 2008, subject changed its legal status to a Limited Liability and shareholding structure changed to the present.

STATUS

Active

SHAREHOLDERS  

NAME  

PERCENTAGE

1. Sheikh Mohammed Saud Salim

   Abdullah Bahwan

   Nationality: Omani

 

2. Saud Bin Mohammed Saud Salim

   Abdullah Bahwan

   Nationality: Omani

 

Subject is 98% owned by Sheikh Mohammed Saud Salim Abdullah Bahwan, Chairman of Saud Bahwan Group, established by the Late Sheikh Saud Salim Abdullah Bahwan, who together with his brother Suhail used to own the important Suhail Bahwan Group (formerly known as Bahwan Group of Companies until they split in 2002), which comprises 15 companies with annual revenues exceeding US DLRS 4.5 billion and employing more than 13,000 people. The group members are involved in diversified field of activities such as distribution of passenger cars, motorcycles, commercial vehicles, machinery and equipment and spare parts; car rental services; freight forwarding services and air cargo handling; travel agents and tour operators; non-life insurance and reinsurance services; engineering consultancy services; automobile training services.

 

Subject is the flagship company for the Dynatrade Automotive Group, UAE, which comprises of 5 companies and employs more than 1,200 people.

98.00%

 

 

 

 2.00% 

 

 

OPERATION 

 

BANKERS   

1.  Standard Chartered Bank

   Al Boorj Avenue

   P.O. Box : 5

   Sharjah

   Telephone: (+971 6) 335 7788

   Fax      : (+971 6) 354 3604

 

2. HSBC Bank Middle East

   King Faisal Road

   PO Box 25

   Sharjah

   Telephone: (+971 6) 537 0222

   Fax      : (+971 6) 537 0880

 

3. Emirates NBD (fmly Emirates Bank

   International)

   King Abdul Aziz Road 

   Al Qassimia Area

   PO Box 44470

   Sharjah

   Telephone: (+971 6) 573 3000

   Fax      : (+971 6) 573 3001

ACTIVITY CODE (NACE)    

4511 - Sale of cars and light motor vehicles; 4519 - Sale of other motor vehicles; 4520 - Maintenance and repair of motor vehicles;

LINE OF BUSINESS    

Trading as importers, exporters, wholesalers, retailers and distributors of auto spare parts, tyres, batteries, heavy duty equipment and machinery.

Pre-Owned Car dealers.

 

Subject also provides maintenance services.

 

Subject’s main products include the following :

 

- European Truck & Car Parts;

- Japanese & Korean Car Parts;

- Heavy Equipment Parts;

- Auto Service - Cars & Light Vehicles;

- Construction Equipment;

- Trucks & Construction Equipment Service;

- Auto Care Products;

- Tyres;

- Batteries.

 

Subject is an authorized Agent for the following:

 

- Toyota;

- Nissan;

- Mitsubishi;

- Mazda;

- Honda;

- Isuzu;

- Hyundai;

- Kia;

- Daewoo;

- Mercedes (including Actros, Atego & Axor);

- Volvo;

- Scania;

- MAN;

- Renault;

- Iveco;

- DAF trucks and trailers such as BPW, ROR, SAF, York.

IMPORT FROM  

Japan, South Korea, Turkey, USA, India and Europe

EXPORT TO 

GCC, African, CIS and Middle Eastern countries

FACILITIES

Owned premises comprising administrative offices and a showroom with storage facilities located at the heading address as well as branch offices located elsewhere in UAE.

RELATED COMPANIES

Subject is the flagship company for the Dynatrade Automotive Group, other members of the group include the following companies:

 

Associates

 

1. Dynatrade Automotive LLC

   PO Box 22842

   Sharjah

   Telephone: (+971 6) 543 3037

   Fax      : (+971 6) 543 3935

   Est. : 22 August 1991

   Chamber of Commerce Membership No. : 27587

   C.R. No. : 21512

   Trade License No. : 114338

 

2. Dynatrade Auto Services Center

   PO Box 22842

   Sharjah

   Telephone: (+971 6) 554 1995

   Fax      : (+971 6) 543 9353

 

3. Dyna Trade Motors LLC

   PO Box 20010

   Dubai

   Telephone: (+971 4) 282 0510

   Fax      : (+971 4) 282 0525

   C.R. No. : 1044966

   Trade License No. : 241945

 

4. Dynatrade Used Cars LLC

   PO Box 22842

   Sharjah

   Telephone: (+971 6) 543 3037

   Fax      : (+971 6) 534 3845

 

Subject is a member of the Saud Bahwan Group of Companies which includes the following companies :

 

1.  Mohammed Saud Bahwan Est LLC

    PO Box 840

    Muscat 100

    Telephone: (+968) 2457 9595 / 2457 8403

    Fax      : (+968) 2487 5711

 

2.  Arabian Car Marketing Co LLC

    166, A'Romelah Street

    Wattayah

    PO Box 1305

    Ruwi 112

    Telephone: (+968) 2456 1377

    Fax      : (+968) 2458 2089

    Established 1977.

 

3.  Arabian Engineering Services LLC

    126, A'Romelah Street

    Wattayah

    PO Box 3000

    Ruwi 112

    Telephone: (+968) 2456 1377

    Fax      : (+968) 2458 2089

    Established 1981

    Distributors for MAN trucks, parts and

    accessories.

    Provision of services.

 

4.  National Travel and Tourism

    40 NW, A'Romelah Street, Plot No 180

    Wattayah

    P.O. Box 962 Ruwi 113

    Oman

    Telephone : (+968) 2456 6046

    Fax       : (+968) 2456 6125

    Established 1991

    Travel agents, airline representatives,

    air cargo services and tour operators.

    Car hire rental and leasing.

 

5.  Saud Bahwan Automotive LLC

    Saud Bahwan Group Building

    Al Romelah Street 134

    Wattayah Area

    P.O. Box 3168

    Ruwi 112

    Oman

    Telephone: (+968) 2457 8000 / 2457 8410 

    Fax      : (+968) 2457 8484

    E-Mail   :  sbgsba@omantel.net.om  

 

6.  Saud Bahwan Projects and Equipment Llc

    (formerly Bahwan Engineering Co Llc)

    Ghala

    P.O. Box 3168 Ruwi 112

    Oman

    Telephone : (+968) 2459 4702

    Fax       : (+968) 2456 1631

    Established 1977.

    Dealers for agricultural machinery, heavy 

    equipment, water well drills, road marking  

    machinery, crushing plants, trenching  

    equipment.   

 

7.  Saud Bahwan Training Center

    Muscat        

 

8.  Al Tejara Al Nasheta (Dynatrade)

    PO Box 1368 Rwui 112

    Established on 10 April 1991

    C.R No : 1/31878/0

    Capital: RO 251,000

    This company is understood to be rather 

    inactive at the moment.

 

9.  Oman Tourism and Travel Agencies

    Ruwi High Street

    PO Box 2246

    Seeb 111

    Telephone: (+968) 2456 6046

    Established 1994

    Travel agents, airline representatives,

    air cargo services and tour operators.

 

10. International Automobile & Parts Co LLC

    Building No. 118

    Al Romelah Street

    Wattayah Area

    P.O.Box 1258 PC 111

    Seeb

    Oman, Sultanate of

    Telephone  : (+968) 2457 8000

    Fax        : (+968) 2456 1631

 

11. Dynatrade Auto Service Center

    PO Box 22842

    Sharjah

    United Arab Emirates

    Telephone: (+971 6) 532 6424

    Fax      : (+971 6) 539 0300

 

12. Dynatrade Electronics Co.L.L.C

    PO Box 22842

    Sharjah

    United Arab Emirates

    Telephone: (+971 6) 533 8937

    Fax      : (+971 6) 543 3935

 

13. Dynatrade Used Cars

    PO Box 22842

    Sharjah

    United Arab Emirates

    Telephone: (+971 6) 533 3227

    Fax      : (+971 6) 532 3530

 

14. Dynatrade Automotive LLC

    Dynatrade Building

    Al Wasit Road

    Industrial Area II

    P.O. Box 22842

    Sharjah

    United Arab Emirates

    Telephone: (+971 6) 543 3037 / 513 2000

    Fax      : (+971 6) 543 3935

    E-Mail   :  dynatrade@emirates.net.ae

 

15. Middle East Automobile & Parts Centre LLC

    PO Box 1905 PC 114

    Muscat

    Oman, Sultanate of

    Telephone: (+968) 2457 9595 / 2457 8403  

    Fax      : (+968) 2487 5711

    E-Mail   : autonet@omantel.net.om

 

16. Saud Bahwan Automotive L.L.C.

    Saud Bahwan Group Building (Toyota Building)

    Al Romelah Street 134

    Wattayah Area, Near Khoula Hospital

    PO Box 3168 Ruwi 112

    Muscat

    Telephone: (+968) 2457 8000

 

 

 

 

SPECIAL REMARKS 

 

INTERVIEWED   

Reghu Nandan (Finance Manager).

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 67.32

UK Pound

1

INR 91.25

Euro

1

INR 80.51

UAE Dh

1

INR 18.42

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

VAR

 

 

Report Prepared by :

SYL

                                                


 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

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 are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

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.