MIRA
INFORM REPORT
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Report Date : |
17.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHRI HARI TRADING LLC |
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Registered Office : |
Al Owais
Building, Qusais Area, PO Box 231480,
Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
24.01.2007 |
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Com. Reg. No.: |
1003058, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of Construction Equipment and Piling 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 Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : SHRI HARI TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 24th January 2007
Commercial Registration Number : 1003058, Dubai
Trade Licence Number : 589306
Chamber Membership Number : 113777
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 12
Activities : Import and distribution of construction equipment and piling equipment
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 75,000
COMPANY NAME
SHRI HARI TRADING
LLC
ADDRESS
Registered &
Physical Address
Building : Al Owais Building
Area : Qusais Area
PO Box : 231480
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2584610 / 2584611
Facsimile : (971-4) 2586710 / 2584611
Premises
Subject operates
from a small suite of offices that are rented and located in the Industrial
Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Bahat
Kirthikumar Madhavilal Indian Managing Director
·
Majed Hussain
Mahmood Salem Al Raeisi Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 24th
January 2007
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1003058,
Dubai
Trade Licence No. : 589306
(Expires 17/12/2011)
Chamber Member No. : 113777
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Majed Hussain
Mahmood Salem Al Raeisi 51%
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Bahat Kirthikumar
Madhavilal 49%
OPERATIONS
Activities: Engaged in the import and distribution of
construction equipment and piling equipment.
Import
Countries: India and Japan
Subject has a
workforce of 12 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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Mashreq Bank
Plc
Deira Branch
PO Box : 1250
Dubai
Tel : (971-4) 2229131 / 2221134
Fax : (971-4) 2233784
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.78 |
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UK Pound |
1 |
Rs.85.51 |
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Euro |
1 |
Rs.67.90 |
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%)