MIRA
INFORM REPORT
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Report Date : |
26.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
GLOBCOM GENERAL TRADING LLC |
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Registered Office : |
Talib Jasim Al
Hawai Building, Khalid Ibn Al Waleed,
Al Mankhool, PO Box 27971,
Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
17.05.2003 |
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Com. Reg. No.: |
73501, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Provision of Trade Finance and Commodities Trading |
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 : GLOBCOM GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 17th May 2003
Commercial Registration Number : 73501, Dubai
Trade Licence Number : 539265
Chamber Membership Number : 76994
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 5
Activities : Provision of trade finance and commodities trading
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 200,000
COMPANY NAME
GLOBCOM GENERAL
TRADING LLC
ADDRESS
Registered & Physical
Address
Building : Talib Jasim Al Hawai Building
Street : Khalid Ibn Al Waleed
Area : Al Mankhool
PO Box : 27971
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3523285
Facsimile : (971-4) 3523241
Email : globcom@globcom.ae
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
KEY PRINCIPALS
Name Position
·
Jean Bellumat Managing
Director
·
Rajeev Sharma Finance
Manager
·
Ms Rowena
Cuadrante Administration
Manager
LEGAL FORM & OWNERS
Date of Establishment : 17th
May 2003
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 73501, Dubai
Trade Licence No. : 539265
(Expires 03/11/2008)
Chamber Member No. : 76994
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
·
Ahmad Saeed
Abdullah Saeed Al Marzooqi 51%
·
Globcom Co 49%
Mauritius
OPERATIONS
Activities: Engage in the provision of trade finance
and commodities trading.
Subject has a
workforce of 5 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
·
Dubai Islamic
Bank
PO Box : 1080
Dubai
Tel : (971-4) 2953000
Fax : (971-4) 2954111
·
Commercial
Bank of Dubai
Mankhool Street
PO Box : 2668
Dubai
Tel : (971-4) 3523355
Fax : (971-4) 3527655 / 2524796
·
The Standard
Chartered Bank
Khalid Bin Waleed Street
Mankhool Branch
PO Box : 999
Dubai
Tel : (971-4) 2520455
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.42.79 |
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UK Pound |
1 |
Rs.85.04 |
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Euro |
1 |
Rs.67.39 |
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%)