MIRA
INFORM REPORT
|
Report Date : |
17.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
RED DUNES GENERAL TRADING LLC |
|
|
|
|
Registered Office : |
Al Souk Street,
Flat No. 101, Gold Souk, PO Box 37118
& 85183, Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Date of Incorporation : |
08.09.2003 |
|
|
|
|
Com. Reg. No.: |
1024541, Dubai |
|
|
|
|
Legal Form : |
Limited Liability Company - LLC |
|
|
|
|
Line of Business : |
Import and Distribution of General Merchandise |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 100,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : RED DUNES GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 8th September 2003
Commercial Registration Number : 1024541, Dubai
Trade Licence Number : 548600
Chamber Membership Number : 80695
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 4
Activities : Import and distribution of general merchandise
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 100,000
COMPANY NAME
RED DUNES GENERAL
TRADING LLC
ADDRESS
Registered & Physical Address
Street : Al Souk Street, Flat No. 101
Area : Gold Souk
PO Box : 37118 & 85183
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3488031
Facsimile : (971-4) 3488032
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Usha Kavita
Rajkumar Indian Managing Director
·
Hassan Abdullah
Hassan Majid Al Ali Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 8th
September 2003
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1024541,
Dubai
Trade Licence No. : 548600
(Expires 01/09/2008)
Chamber Member No. : 80695
Issued Capital : UAE Dh 300,000
Paid up Capita l : UAE Dh 300,000
Name of Shareholder (s) Percentage
·
Hassan
Abdullah Hassan Majid Al Ali 51%
·
Usha Kavita
Rajkumar 49%
AFFILIATED COMPANIES
·
South Gold Dust
General Trading LLC
Lulu Centre Building, Office
No. 201
Deira
PO Box 122732
Dubai
Tel: (971-4) 3488031
Fax: (971-4) 3488032
OPERATIONS
Activities: Engaged in the import and distribution of
general merchandise.
Subject has a workforce
of 4 employees.
FINANCIAL DATA
Companies
registered in Dubai, United Arab Emirates are not legally required to make
their accounts public and no financial information was released by the company
or submitted by outside sources.
BANKERS
·
Habib Bank AG
Zurich
Baniyas Road
PO Box 3306
Dubai
Tel: (971-4) 2214535
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.78 |
|
UK Pound |
1 |
Rs.85.51 |
|
Euro |
1 |
Rs.67.90 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)