MIRA
INFORM REPORT
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Report Date : |
04.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
TEX TREND TRADING LLC |
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Registered Office : |
Sharafa Building,
Ground Floor, Al Fahidi Street, Al Souq Al Kabir, Deira, PO Box 23581, 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 : |
10.09. 1991 |
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Com. Reg. No.: |
60354, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Retail of Textiles, Readymade Garments, Handbags and
Leather Products, Giftware, Perfumes and Cosmetics. |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : TEX TREND TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 10th September 1991
Commercial Registration Number : 60354, Dubai
Trade Licence Number : 225836
Chamber Membership Number : 21950
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 6
Activities : Retail of textiles, readymade garments, handbags and leather products,
giftware, perfumes and cosmetics.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
TEX TREND TRADING
LLC
ADDRESS
Registered & Physical Address
Building : Sharafa Building, Ground Floor
Street : Al Fahidi Street
Area : Al Souq Al Kabir, Deira
PO Box : 23581
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3531445 / 3538565 / 3535850
Facsimile : (971-4) 3539882 / 3532934
Email : textrend@emirates.net.ae
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
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Pradeep Kumar
Premjani Indian Managing
Director
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Amit Pradeep
Kumar Premjani Indian Director
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Khalid
Abdullah Hassan Eid Mubarak Al Balooshi Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 10th
September 1991
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 60354, Dubai
Trade Licence No. : 225836
(Expires 03/09/2008)
Chamber Member No. : 21950
Issued Capital : UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Name of Shareholder (s) Percentage
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Khalid
Abdullah Hassan Eid Mubarak Al Balooshi 51%
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Pradeep Kumar
Premjani 25%
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Amit Pradeep
Kumar Premjani 24%
OPERATIONS
Activities: Engaged in the retail of textiles,
readymade garments, handbags and leather products, giftware, perfumes and
cosmetics.
Import
Countries: Thailand, France
and India
Operating Trend: Steady
Subject has a
workforce of 6 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
12,800,000 UAE Dh
14,000,000
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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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 and the above credit figure is
within subject’s financial means.
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%)