MIRA
INFORM REPORT
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Report Date : |
28.11.2008 |
IDENTIFICATION DETAILS
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Name : |
RIGI TRADING CO LLC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
30.01.2008 |
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Com. Reg. No.: |
1022630, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Import and distribution of general foodstuffs and beverages |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 50,000 |
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Status : |
New and Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : RIGI TRADING CO LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 30th January 2008
Commercial Registration Number :
1022630,
Trade Licence Number : 605876
Chamber Membership Number : 128691
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 3
Activities : Import and distribution of general foodstuffs and beverages
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 50,000
COMPANY NAME
RIGI TRADING CO LLC
ADDRESS
Registered &
Physical Address
Building :
Area : Al Ras Area, Deira
PO Box : 185217 & 64625
Town :
Country :
Telephone : (971-4) 2356045 / 2267026
Facsimile : (971-4) 2356046 / 2351978
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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Mohamed
Nabi Abdoul Rigi Iranian Managing Director
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Ayoub
Mohamed Nabi Rigi Iranian Director
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Ismail
Mohamed Essa Al Balooshi Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 30th
January 2008
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1022630,
Trade Licence No. : 605876
(Expires 27/01/2009)
Chamber Member No. : 128691
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Ismail
Mohamed Essa Al Balooshi 51%
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Mohamed
Nabi Abdoul Rigi 25%
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Ayoub
Mohamed Nabi Rigi 24%
OPERATIONS
Activities: Engaged in the import and distribution of
general foodstuffs and beverages.
Import
Countries:
Subject has a workforce
of 3 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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Bank
Saderat
Tel: (971-4) 2221161
Fax: (971-4) 2234460
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Investigations
undertaken in Dubai did not reveal any sign of payment defaults or delays
during initial trading stages, and subject is believed to meet its payment
obligations in a timely manner, nevertheless, and in view of the company’s
infancy and the lack of a more consistent payment and financial record, a
measure of caution is advisable and a close monitoring of subject’s business
development is recommended.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.84 |
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1 |
Rs.76.81 |
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Euro |
1 |
Rs.64.38 |
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%)