MIRA
INFORM REPORT
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Report Date : |
17.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
SOUTH GOLD DUST GENERAL TRADING LLC |
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Registered Office : |
Lulu Centre
Building, Office No. 201, Deira, PO Box 122732, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
21.03.2006 |
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Com. Reg. No.: |
79507, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
General Traders |
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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Maximum Credit Limit : |
US$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : SOUTH GOLD DUST GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 21st March 2006
Commercial Registration Number : 79507, Dubai
Trade Licence Number : 579154
Chamber Membership Number : 105818
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 3
Activities : General traders
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 100,000
COMPANY NAME
SOUTH GOLD DUST
GENERAL TRADING LLC
ADDRESS
Registered & Physical Address
Building : Lulu Centre Building, Office No. 201
Area : Deira
PO Box : 122732
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
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Mano Gupta Indian Managing Director
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Hassan
Abdullah Hassan Majid Al Ali Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 21st
March 2006
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 79507, Dubai
Trade Licence No. : 579154
(Expires 20/03/2009)
Chamber Member No. : 105818
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Hassan
Abdullah Hassan Majid Al Ali 51%
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Mano Gupta 49%
AFFILIATED COMPANIES
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Red Dunes
General Trading LLC
Al Souk Street, Flat No. 101
Gold Souk
PO Box 37118 & 85183
Dubai
OPERATIONS
Activities: General traders specialising in jewellery.
Subject has a
workforce of 3 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
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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
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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%)