MIRA INFORM REPORT
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Report Date : |
04.08.2011 |
IDENTIFICATION DETAILS
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Name : |
GILANI FURNITURE, INC. |
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Registered Office : |
8840 Memorial Dr., Houston, Tx 77024 |
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Country : |
United States |
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Date of Incorporation : |
05.01.2007 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Wholesale Furniture Dealers |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
Unknown |
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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 States |
a1 |
a1 |
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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 |
Comments on the rating: We suggest caution
GEOPOLITICS - UNITED STATES
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: USD |
IDENTIFICATION
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Ordered as: |
Gilani Furniture |
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Address in the order: |
8840 Memorial Drive Houston Texas 77024 |
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Legal Name: |
GILANI FURNITURE, INC. |
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Legal Address |
8840 MEMORIAL DR. HOUSTON, TX 77024, USA |
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Mailing Address |
P.O. Box 55469, Houston, Texas 77255-5469, USA |
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Telephone: |
(713) 263 - 9101 |
File Number : |
0800755835 |
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Fax: |
(713) 895 - 0189 |
Legal Form: |
Corporation for Profit |
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Email: |
info@gilanifurniture.com |
Registered in: |
Texas |
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Website: |
http://gilanifurniture.com |
Date Created: |
NA |
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Manager: |
Salman Gilani Principal |
Date Incorporated: |
January 5, 2007 |
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Staff: |
2 |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Wholesale Furniture Dealers |
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BANK
Name of the Bank Bank of America
BUSINESS
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HISTORY |
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Established in 2007, and based in Texas. |
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PRINCIPAL ACTIVITY |
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Furniture, Lighting,and Design. |
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Products/Services description: |
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BARS BEDS COPPER TOPS CEILING LIGHTS CONSOLES CANDLESTICKS COFFEE TABLES DRAPERY HARDWARE DINING TABLES ETAGERES FIREPLACE ACCESSORIES FLOOR LAMPS GLASS TOPS LAVATORY MIRRORS MOSAIC TOPS PEDESTALS PLANTERS PARQUETRY TOPS SCREENS SEATING SIDE TABLES TABLE LAMPS CAST STONE TOPS URNS WALL LIGHTS WRITING TABLES |
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Sales are: |
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Retail |
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Operations area: |
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National |
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Trade References: |
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Despite our efforts we were unable to confirm any trade reference. |
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The subject employs 2 employee(s) |
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PAYMENTS |
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regular |
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Comments on location: |
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Based in Texas, and a Show room in North Carolina. |
Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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The Gilani Family. |
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Management: |
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Salman Gilani Director Shah Gilani Chief Excecutive
Officer |
Financials - COMMERCIAL TRENDS AND FORECAST
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As a private company the subject does not publish any financial
statements. |
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However our financial sources could provide us with the following
data. Those figures are estimates provided by confidential banking and
financial institutions working with the company |
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Currency |
DATE |
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USD |
2010 |
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Turnover |
300,000 |
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Legal Fillings |
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There are no UCC** files listed with the Secretary
of State of Texas. There are no legal filings listed with the
District Court. The last annual report was filed on 2010. THE COMPANY IS NOT LISTED ON THE OFAC
LIST.* For information: * The Specially Designated Nationals (SDN)
List is a publication of OFAC which lists individuals and organizations with
whom United States citizens and permanent residents are prohibited from doing
business. ** The Uniform Commercial Code (UCC) is
one of a number of uniform acts that have been promulgated in conjunction
with efforts to harmonize the law of sales and other commercial transactions
in all 50 states within the United States of America. The UCC deals primarily with transactions
involving personal property (movable property), not real property (immovable
property). It allows a creditor to notify other
creditors about a debtor’s assets used as collateral for a secured
transaction by filing a public notice (financing statement) with a particular
filing office. The Uniform Commercial Code Bureau files
and maintains on financial obligations (including IRS liens) incurred by
individuals (in business as a sole proprietor), business entities and
corporations. |
Rating
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Local credit bureau gave a regular credit
rate. The
company is not in Good Standing. This means that some local and federal taxes
were not paid on due date. |
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Final Opinion |
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This is a small company with 2 employees and several years of
operation. This is a tiny business with small income. The company’s status is not in good standing in the secretary of state
despite a current activity. We suggest a follow up in six months to monitor the company status and
evaluate if it was updated. As of now, we suggest extreme caution.. |
SUMMARY
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Profitability |
LOW |
Public Records |
NO |
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Indebtedness |
CONTROLLED |
Payments |
TO BE MONITORED |
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Cash |
LOW |
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APPENDIX
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Comments |
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The person contacted confirmed that the company is operating. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.38 |
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UK Pound |
1 |
Rs.72.21 |
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Euro |
1 |
Rs.62.87 |
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.