MIRA
INFORM REPORT
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Report Date : |
03.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
LAXMI TRADING LLC |
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Registered Office : |
Sabkha Road PO Box 43766, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
31.03.2007 |
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Com. Reg. No.: |
1007654, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of Calculators, Photographic
Equipment, Watches, Air Conditioning Units, Telecommunication Equipment,
Light Fittings, Electrical Appliances and Audio Visual Equipment. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Maximum Credit Limit : |
US$ 75,000 |
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Status : |
New and Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : LAXMI TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 31st March 2007
Commercial Registration Number : 1007654, Dubai
Trade Licence Number : 593286
Chamber Membership Number : 117280
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 5
Activities : Import and distribution of calculators, photographic equipment, watches, air conditioning units, telecommunication equipment, light fittings, electrical appliances and audio visual equipment.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 75,000
COMPANY NAME
LAXMI TRADING LLC
ADDRESS
Registered & Physical Address
Location : Sabkha Road
PO Box : 43766
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2298198
Facsimile : (971-4)
2298178
Email : laxmitrd@eim.ae
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
· Naresh
Kumar Madani Indian Managing
Director
· Satish
Madani Indian Director
· Neten
Kheskani Indian Director
· Rabia Mohamed Noor
Bin Hendi Emirati Director
· Navin
Kujani - Sales
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 31st
March 2007
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 1007654, Dubai
Trade Licence No. : 593286
Chamber Member No. : 117280
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Rabia Mohamed Noor
Bin Hendi 51%
· Naresh
Kumar Madani ]
]
· Satish
Madani ] 49%
]
· Neten
Kheskani ]
OPERATIONS
Activities: Engaged in the import and distribution of calculators, photographic
equipment, watches, air conditioning units, telecommunication equipment, light
fittings, electrical appliances and audio visual equipment.
Import Countries: India, Japan, United Kingdom and Italy.
Subject has a workforce of 5 employees.
FINANCIAL DATA
Subject is a newly formed business and as a result financial information
is not currently available.
BANKERS
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Emirates Bank International Ltd
Beniyas Road
Deira
PO Box : 2923
Dubai
Tel : (971-4) 2256256
/ 2256900
Fax : (971-4)
2268005 / 2267718
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
Investigations undertaken in Dubai did not reveal any sign of payment
defaults or delays during initial trading stages, and subject is believed to
meet its payment obligations in a timely manner, nevertheless, and in view of
the company’s infancy and the lack of a more consistent payment and financial
record, a measure of caution is advisable and a close monitoring of subject’s
business development is recommended.
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)