MIRA INFORM
REPORT
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Report Date : |
02.04.2011 |
IDENTIFICATION DETAILS
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Name : |
APOLLO IMPEX GENERAL TRADING LLC |
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Formerly Known As : |
Lucky Home Trading LLC |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
26.09.2005 |
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Com. Reg. No.: |
76277, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesale and retail of readymade garments, electronic products, mobile phone accessories and toys. |
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 |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUMMARY
Company Name : APOLLO IMPEX GENERAL TRADING LLC
Previously Known As : LUCKY HOME TRADING LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 26th September 2005
Commercial Registration Number : 76277,
Trade Licence Number : 573435
Chamber Membership Number : 100292
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 7
Activities : Wholesale and retail of readymade garments, electronic products,
mobile phone accessories and toys.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
APOLLO IMPEX GENERAL
TRADING LLC
Previously Known As
LUCKY HOME TRADING
LLC
company address
Registered & Physical Address
Building :
Street :
Area : Al Daghaya, Deira
PO Box : 376977
Town :
Country :
Telephone : (971-4) 2270728
Facsimile : (971-4) 2731150
Email : lhome007@hotmail.com
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
·
Irfan
Razak Kashid Indian Managing Director
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Mohamed
Imran Razak Bangladeshi Director
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Mohamed
Farid Walid Khamis Bilal Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 26th
September 2005
History : Subject was originally called “Lucky Home
Trading LLC”. But on 8th August 2010 on the
introduction of Mr Mohamed Imran Razak as a
new shareholder, subject changed its name
to “Apollo Impex General Trading LLC”
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 76277,
Trade Licence No. : 573435
(Expires 25/09/2011)
Chamber Member No. : 100292
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
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Mohamed
Farid Walid Khamis Bilal 51%
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Irfan
Razak Kashid 25%
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Mohamed
Imran Razak 24%
OPERATIONS
Activities: Engaged in the wholesale and retail of
readymade garments, electronic products, mobile phone
accessories and toys.
Import
Countries:
Operating Trend: Steady
Subject has a
workforce of 7 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales UAE Dh 8,900,000 UAE Dh 9,450,000
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
Tel: (971-4) 2229131 / 2221134
Fax: (971-4) 2233784
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company is deemed a fair trade risk and
the above credit figure is considered to be within subject’s financial means.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.65 |
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1 |
Rs.71.93 |
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Euro |
1 |
Rs.63.24 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.