MIRA
INFORM REPORT
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Report Date : |
30.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
HOME CENTRE INTERNATIONAL LLC |
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Registered Office : |
Jebel Ali
Industrial Area, Plot No. 599 – 419, PO
Box 54052 & 25030 & 34426, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
31.03.1999 |
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Com. Reg. No.: |
52529, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Retail of Household Goods |
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$ 1,000,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : HOME CENTRE INTERNATIONAL LLC
Also Known As : HOME CENTRE
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 31st March 1999
Commercial Registration Number : 52529, Dubai
Trade Licence Number : 510868
Chamber Membership Number : 53757
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 2,000
Activities : Retail of household goods
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 1,000,000
COMPANY NAME
HOME CENTRE
INTERNATIONAL LLC
ALSO KNOWN AS
HOME CENTRE
ADDRESS
Registered & Physical Address
Location : Jebel Ali Industrial Area, Plot No. 599 - 419
PO Box : 54052 & 25030 & 34426
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8095000
/ 8095100
Facsimile : (971-4) 8095050
/ 8095151
Email : david@landmarkgroupco.com
Premises
Subject operates
from a large suite of offices and a warehouse that are rented and located in
the Industrial Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Sheikh Faisal
Bin Khalid Sultan Al Qassimi Emirati Managing Director
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Mukesh
Wadhumal Jagtiani Indian Director
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Jonathan
William Jagtiani British Director
LEGAL FORM & OWNERS
Date of Establishment : 31st
March 1999
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 52529, Dubai
Trade Licence No. : 510868
(Expires 14/03/2009)
Chamber Member No. : 53757
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
·
Sheikh Faisal
Bin Khalid Sultan Al Qassimi 51%
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Mukesh
Wadhumal Jagtiani 39%
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Jonathan
William Jagtiani 10%
AFFILIATED COMPANIES
·
Landmark Group United
Arab Emirates
·
Shoemart LLC United
Arab Emirates
·
Baby Shop LLC United
Arab Emirates
·
Splash LLC United
Arab Emirates
·
Life Style LLC United
Arab Emirates
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Al Bandar
House of International Trading United
Arab Emirates
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Max Fashion United
Arab Emirates
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Landmark
Central Market WLL Kuwait
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Dorrat Al Wadi
Trading Co Saudi
Arabia
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Mothercare BSC Bahrain
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Baby Shop LLC Oman
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Home Centre
WLL Qatar
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Landmark
Infotech Systems India
·
Lifestyle
International Pvt Ltd India
OPERATIONS
Activities: Subject operates 50 stores located
throughout the Middle East specialising in the retail of household
furniture and furnishings, as well as household products such as kitchen
utensils, ceramic and chinaware.
Import
Countries: Europe and Asia
Subject has a
workforce of approximately 2,000 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. However it is believed the Landmark Group has a
turnover in excess of US$ 2.5 billion.
BANKERS
·
Standard
Chartered Bank
Khalid Bin Waleed Street
PO Box : 999
Dubai
Tel
: (971-4) 2520455
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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
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HSBC Bank
Middle East
Deira Souk Branch
PO Box : 66
Dubai
Tel : (971-4) 2535000
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Abu
Dhabi Commercial Bank
Al
Rigga Road
PO Box : 5550
Dubai
Tel : (971-4) 2958888 / 3228141
Fax : (971-4) 2959310 / 3279632
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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
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.42.47 |
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UK Pound |
1 |
Rs.84.00 |
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Euro |
1 |
Rs.66.14 |
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%)