MIRA INFORM REPORT

Report No. :	510483
Report Date :	24.05.2018

IDENTIFICATION DETAILS

Name :	AHMAD ABDULLA SADEGH TRADING CO. (L.L.C.)
Registered Office :	Al Fajer Building, G Floor, Al Ahmadiya Street, Al Ras, Deira, 56032, Dubai
Country :	United Arab Emirates
Date of Incorporation :	07.02.1996
Com. Reg. No.:	240631
Legal Form :	Limited Liability Company
Line of Business :	· Agents involved in the sale of a variety of goods · Wholesale of coffee, tea, cocoa and spices
No. of Employees :	70 [2018]

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd 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 :	Regular
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	AHMAD ABDULLA SADEGH TRADING CO. (L.L.C.)
ADDRESS	Building	Street			Area			PO Box
	Al Fajer Building, G Floor	Al Ahmadiya Street			Al Ras, Deira			56032 Dubai
TEL/FAX	Verified Phones: (+971 4) 299 9444 / Fax: (+971 4) 299 9445
EMAIL/WEBSITE	Email: taleb@eim.ae / Website: N/A
ACTIVITY	NACE 4619 - Agents involved in the sale of a variety of goods; NACE 4637 - Wholesale of coffee, tea, cocoa and spices;
PRINCIPAL	Ahmed Abdullah Sadegh Fard					Workforce
	Managing Director					70
LEGAL INFO	Date Of Est.		Reg. No.	Legal Form			Status
	07/02/1996		240631	LLC			Active
CAPITAL	CURRENCY			AMOUNT
	AED			3,000,000

IDENTIFICATION
CO. NAME	AHMAD ABDULLA SADEGH TRADING CO. (L.L.C.)
ALSO KNOWN NAME (S)	Ahmed Abdulla Sadegh Trading Company LLC
BUILDING	Al Fajer Building, G Floor
STREET	Al Ahmadiya Street
AREA	Al Ras, Deira
POSTAL ADDRESS	56032 Dubai
CITY	Dubai
COUNTRY	United Arab Emirates
TELEPHONE	(+971 4) 299 9444 / (+971 4) 320 0440 / Mobile (+971 50) 450 0925
FAX	(+971 4) 299 9445
VERIFIED EMAIL	taleb@eim.ae / mohammed.ashar@yahoo.com
BUSINESS HOURS	DAYS	OFFICE HOURS	BREAK TIME
	Sun-Thu	09:00-17:00	13:00-13:30

SENIOR PERSONNEL
MANAGEMENT	NAME	POSITION
	Ahmed Abdullah Sadegh	Managing Director
	Mohammed Ashar Mustafa Mohsene	Finance Manager Accountant
WORKFORCE	NO. OF EMPLOYEES	PERIOD
	70	05.2018

FINANCIAL SUMMARY
REVENUE	31/12/2017	31/12/2018 (Projected)
	AED 250,000,000	AED 300,000,000
NET PROFIT / (LOSS)	31/12/2017	31/12/2018 (Projected)
	AED 20,000,000	AED 25,000,000
FISCAL YEAR-END	31 December

LEGAL STATUS
INCORPORATION	07/02/1996
REGISTRATION NO.	C.R. NUMBER		ISSUED BY
	Trade License No.: 240631 (expiry date: 06/02/2019)	Dubai Department of Economic Development
OTHER REGISTRATION NO.	DCCI Membership No.: 37129 (Chamber of Commerce Membership) / Registration No.: 46208
AUTHORISED CAPITAL	AMOUNT		CURRENCY
	3,000,000		AED
PAID-UP CAPITAL	AMOUNT		CURRENCY
	3,000,000		AED
BUSINESS HISTORY	The Company was incorporated in United Arab Emirates on 7 February 1996.
LEGAL FORM	Limited Liability Company
STATUS	Active
SHAREHOLDERS	NAME		PERCENTAGE
	1. Ahmad Abdulla Sadiq Nationality: Iranian 2. Sadiq Ahmad Sadiq Fard Nationality: Iranian 3. Ghulam Reza Zebihullah Veghar Fard Nationality: Iranian 4. Taleb Ahmad Sadiq Fard Nationality: Iranian 5. Ali Ghulam Abbas Al Ali * Nationality: Emirati * The local sponsor, according to UAE laws must hold a minimum of 51% of the capital, however, in practice and unofficially the sponsor gets a fixed annual percentage of the profit and a sponsorship fee without any investment in the company.		35.00% 5.00% 5.00% 4.00% 51.00%

OPERATION
BANKERS	1. Mashreq Bank Omar Bin Al Khattab Street P.O. Box : 1250 Deira, Dubai Telephone: (+971 4) 424 4444 Fax : (+971 4) 222 3333 2. Habib Bank AG Zurich Al Nasser Square PO Box 3306 Dubai Telephone: (+971 4) 260 7999 Fax : (+971 4) 228 4211 Subject previously had an account with HSBC Bank Middle East, Union National Bank and Emirates NBD Bank.
ACTIVITY CODE (NACE)	4619 - Agents involved in the sale of a variety of goods; 4637 - Wholesale of coffee, tea, cocoa and spices;
LINE OF BUSINESS	Trading as importers, wholesalers and distributors of dry food including pulses, nuts, spices, rice, tea as well as other foodstuff.
IMPORT FROM	worldwide mainly Turkey, China, Bolivia, Guatemala, India and USA.
EXPORT TO	GCC countries, Iran, Egypt, Jordan, Tunisia, Algeria and Libya.
TRADE REFERENCES	1. Foods Company SA Bolivia 2. Agronomicas de Guatemala S.A. Guatemala
FACILITIES	Leased premises comprising administrative offices, a wholesale outlet and storage facilities located at the heading address as well as one 10,000 sq. m. warehouse located elsewhere in a suburb of Dubai.
RELATED COMPANIES	Associates 1. Ahmed Sadegh Nuts Roasting Factory (L.L.C) Sheikh Hasher Building, Shop No. 7 Al Ras Area, Al Aweer P.O. Box No.: 65014 Dubai United Arab Emirates Telephone: (+971 4) 320 0440 Fax : (+971 4) 320 0441 Est.: 02/09/2001 Trade License No. : 528887 2. Ahmad Abdulla Sadegh Fard Trading (L.L.C) Office No. 204, Malik Qassem Al-Mubarak Al Ras Area Dubai Telephone: (+971 4) 225 2235 Est.: 21/02/2006 Trade License No. : 578107

SPECIAL REMARKS
INTERVIEWED	Mustafa Mohsene (Accountant).

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 68.21
UK Pound	1	INR 91.43
Euro	1	INR 80.24
UAE Dh	1	INR 18.61

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

INFORMATION DETAILS

Analysis Done by :	NIY
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)

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