MIRA INFORM REPORT

 

 

Report Date :           

07.04.2011

 

IDENTIFICATION DETAILS

 

Name :

TRI LITE INTERNATIONAL (L.L.C)

 

 

Registered Office :

Benias Complex, 4th Floor, Office No. 404, 5th Square Street, Opposite to Deira Tower, B Block, P.O.Box No. 41362, Dubai

 

 

Country :

United Arab Emirates 

 

 

Date of Incorporation :

05.09.2000

 

 

Com. Reg. No.:

55191

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

importers and retailers of perfumes, fragrances, cosmetics and other beauty care products

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

Dh 100,000

Status :

Small Company 

Payment Behaviour :

No Complaints

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

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

United Arab Emirates 

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Company  NAME

 

Tri Lite International (L.L.C) (Correct)

TRILITE INTERNATIONAL (Requested)

 

 

Company ADDRESS

 

Building             : Benias Complex, 4th Floor, Office No. 404

Area                 : 5th Square Street, Opposite to Deira Tower, B Block,

P.O.Box No.      : 41362

Town                 : Dubai

Country             : United Arab Emirates

Telephone         : (971 4) 223 4478

Fax                   : (971 4) 223 3839

E-Mail               : smitha@triliteintl.com

Website            : www.triliteintl.com

 

Trading Style : Trilite

 

 

SENIOR COMPANY PERSONNEL

 

   Name                                   Position

 

1. Nitha Suresh Doshi                Managing Director                        

   (Indian national)

 

2. Smitha Dsouza                      Secretary

 

Total Employees : 22

 

 

PAYMENTS

 

No complaints have been heard regarding payments from local suppliers or banks.

 

We consider it is acceptable to deal with subject for SMALL amounts,

however in view of the lack of financial information we recommend international suppliers exercise a degree of caution.

 

Opinion on maximum credit : Dh 100,000 (higher amounts may be

                                    considered with full fiscal disclosure)

 

Trade risk assessment: Normal

 

 

PRINCIPAL BANKERS

 

Subject declined to name its bankers.

 

 

FINANCIAL INFORMATION

 

Private companies in United Arab Emirates are not required to publish or disclose balance sheets. Balance sheets are not available from other sources, and the subject interviewed declined to give any financial information, which the company regards as strictly confidential.

 

 

LEGAL STATUS AND HISTORY

 

Date Started : 5 September 2000

 

History : The subject company was established in Dubai on 5 September 2000 as a Limited Liability Company with the following shareholders :

Abdurrahman Mohammed Abdurrahman Bin Hafiz and Nitha Suresh Doshi. On 19 September 2010, Nitha Suresh Doshi sold his shares to Infiniti Ventures Limited and subject's shareholding structure changed to the present.

 

C.R. No. : 55191

 

Trade License No.: 520765 (expiry date: 04/09/2011)

 

DCCI Membership No.: 60206

 

Authorised Capital : Dh 300,000

 

Paid-Up Capital : Dh 300,000

 

Limited Liability Company with the following shareholders :

 

  Percentage

 

1. Infiniti Ventures Limited                                                           49%

   Jebel Ali

   United Arab Emirates

 

2. Abdurrahman Mohammed Abdurrahman Bin Hafiz *                   51%

   (UAE national)

 

* The local sponsor, according to UAE laws must hold a minimum of 51% of the capital, however, in practice and unofficially the sponsor gets a fixed annual percentage of the profit and a sponsorship fee without any investment in the company.                              

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Trading as importers and retailers of perfumes, fragrances, cosmetics and other beauty care products.

 

 

FACILITIES

 

The Company has the following facilities :

 

Administrative offices and storage facilities located at the heading address.

 

 

SPECIAL NOTE

 

You enquired on: TRILITE INTERNATIONAL. Please note that the correct name is as per heading.  

 

Interviewed: Smitha Dsouza (Secretary).

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.22

UK Pound

1

Rs.72.25

Euro

1

Rs.63.09

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<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%)

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.