MIRA INFORM
REPORT
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Report Date : |
01.08.2011 |
IDENTIFICATION DETAILS
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Name : |
BAASHIN STAR TRADING CO LLC |
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Registered Office : |
Ahmed Ramadhan Juma
Building, Suite No. 204, Al Suq Al Kabir Street, Al Bateen, Deira, P O Box
40422, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
12.08.2002 |
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Com. Reg. No.: |
60167, Dubai |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of household electrical appliances, kitchen utensils and house ware |
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$ 100,000 |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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United Arab Emirates |
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 |
Bottom of Form
SUMMARY
Company Name : BAASHIN STAR TRADING CO LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 12th August 2002
Commercial Registration Number : 60167, Dubai
Trade Licence Number : 536629
Chamber Membership Number : 70965
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 6
Activities : Distributors of household electrical appliances, kitchen utensils and
house ware.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 100,000
COMPANY NAME
BAASHIN STAR
TRADING CO LLC
company ADDRESS
Registered & Physical Address
Building : Ahmed Ramadhan Juma Building,
Suite No. 204
Street : Al Suq Al Kabir Street
Area : Al Bateen, Deira
PO Box : 40422
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2734250 / 2350464
Facsimile : (971-4) 2350624
Mobile : (971-50) 4505198
Email : bstc@hotmail.com / bstc@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
·
Navin
Kumar Jain Indian Managing Director
·
Sameer
Fahad Mohamed Barahim Baashin Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 12th
August 2002
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 60167, Dubai
Trade Licence No. : 536629
(Expires 11/08/2012)
Chamber Member No. : 70965
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Sameer
Fahad Mohamed Barahim Baashin 51%
·
Navin
Kumar Jain 49%
OPERATIONS
Activities: Engaged in the import and distribution of
household electrical appliances, kitchen utensils and house ware.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 6 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
·
Emirates
Bank International Ltd
Baniyas Road
Deira
PO Box: 2923
Dubai
Tel: (971-4) 3160316
Fax: (971-4) 2264302
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.44.16 |
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UK Pound |
1 |
Rs.72.10 |
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Euro |
1 |
Rs.63.10 |
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 |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.