MIRA
INFORM REPORT
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Report Date : |
08.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
LALWANI TRADING CO LLC |
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Registered Office : |
Heirs of Nasser
Ali Khamis Building, Al Suq Street, Al Souq Al Kabir, PO Box 863, 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 : |
28.05.1997 |
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Com. Reg. No.: |
49084, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of Ready Made Garments, Footwear, Watches, Jewellery, 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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : LALWANI TRADING CO LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 28th May 1997
Commercial Registration Number : 49084, Dubai
Trade Licence Number : 246665
Chamber Membership Number : 43853
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 9
Activities : Import and distribution of ready made garments, footwear, watches,
jewellery, perfumes and cosmetics
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
LALWANI TRADING CO
LLC
ADDRESS
Registered & Physical Address
Building : Heirs of Nasser Ali Khamis
Building
Street : Al Suq Street
Area : Al Souq Al Kabir
PO Box : 863
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3535722
Facsimile : (971-4) 3535212
Email : lalwani@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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Bhagwan
Lalwani Indian Managing Director
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Leelu Bhagwan
Lalwani Indian Director
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Jassim Mohamed
Darwish Sanqoor Emirati Director
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Manoj Segnani - General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 28th
May 1997
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 49084, Dubai
Trade Licence No. : 246665
(Expires 27/05/2009)
Chamber Member No. : 43853
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Jassim Mohamed
Darwish Sanqoor 51%
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Bhagwan
Lalwani 25%
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Leelu Bhagwan
Lalwani 24%
OPERATIONS
Activities: Engaged in the import and distribution of
ready made garments, footwear, watches, jewellery, perfumes and cosmetics.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 9 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 8,400,000 UAE Dh 9,500,000
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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HSBC Bank
Middle East
Deira Souk Branch
PO Box : 66
Dubai
Tel : (971-4) 2535000
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Bank of Baroda
PO Box : 3162
Dubai
Tel : (971-4) 5531955
Fax : (971-4) 5536962
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1997,
subject is involved in the import and distribution of ready made garments,
footwear, watches, jewellery, perfumes and cosmetics.
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.48.74 |
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UK Pound |
1 |
Rs.85.19 |
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Euro |
1 |
Rs.66.12 |
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%)