MIRA
INFORM REPORT
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Report Date : |
17.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
H P K INTERNATIONAL LLC |
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Registered Office : |
Abbas Juma
Kharram Building, Al Satwa Road, Al Satwa, PO Box 33996 & 113125, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
06.10. 2003 |
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Com. Reg. No.: |
98787, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Distributors of Copper Ore. |
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 : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : H P K INTERNATIONAL LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 6th October 2003
Commercial Registration Number : 98787, Dubai
Trade Licence Number : 549486
Chamber Membership Number : 81343
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 5
Activities : Distributors of copper ore.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
H P K INTERNATIONAL
LLC
ADDRESS
Registered & Physical Address
Building : Abbas Juma Kharram Building
Street : Al Satwa Road
Area : Al Satwa
PO Box : 33996 & 113125
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 5774610
Facsimile : (971-4) 5774610
Premises
Subject operates from
a small suite of offices and a warehouse that are rented and located in the
Suburban Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Hiran Pravol
Bhanoshali Indian Managing Director
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Ghuloom Hassan
Abdullah Ali Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 6th
October 2003
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 98787, Dubai
Trade Licence No. : 549486
Chamber Member No. : 81343
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Ghuloom Hassan
Abdullah Ali 51%
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Hiran Pravol
Bhanoshali 49%
OPERATIONS
Activities: Engaged in the import and distribution of
copper ore.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 5 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/06: Year Ending
31/12/07:
Total Sales UAE Dh 6,000,000 UAE Dh 6,720,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
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Standard
Chartered Bank
Khalid Bin Waleed Street
PO Box 999
Dubai
Tel: (971-4) 2520455
Acc No. 01423249601
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction March
2008
Credit amount 150,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
GENERAL COMMENTS
Established in
2003, subject is owned and managed by Mr Hiran Pravol Bhanoshali, an Indian
national who operates in Dubai under the local sponsorship of Mr Ghuloom Hassan
Abdullah Ali.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.33 |
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UK Pound |
1 |
Rs.73.92 |
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Euro |
1 |
Rs.66.69 |
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%)