MIRA INFORM REPORT

 

 

Report Date :           

09.08.2011

 

 

 

Tel. No.:

02-4485313

Fax No.:

02 4485314

 

IDENTIFICATION DETAILS

 

Name :

TALISMAN GENERAL TRADING LLC 

 

 

Registered Office :

M1, Deira House, Abu Bakr Siddique Road, Deira, P.O.Box No. 114390, Dubai

 

 

Country :

United Arab Emirates 

 

 

Date of Incorporation :

04.02.2004

 

 

Com. Reg. No.:

65891

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Hospitality consultancy

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Trade Licensed Expired

 

 

Payment Behaviour :

----

 

 

Litigation :

----

 

 

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

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

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

 

Talisman General Trading LLC

 

 

Company ADDRESS

 

Building             : M1, Deira House

Street               : Abu Bakr Siddique Road

Area                 : Deira

P.O.Box No.      : 114390

Town                 : Dubai

Country             : United Arab Emirates

Telephone         : (971 4) 297 1515 (unattended)

Fax                   : (971 4) 297 1716 (unattended)

E-Mail               : info@talisman.ae

Website            : www.talisman.ae

 

 

SENIOR COMPANY PERSONNEL

 

   Name                                                Position

 

1. Basantani Suresh Shainarai   Managing Director

 

2. Fahim Uddin Khan                  Director

 

 

PAYMENTS

 

Current trade experience of payments has not been traced.

 

Our sources could not contact the company and obtain a direct

interview. According to our subject’s telephone and fax numbers were as above. These numbers are continuously unattended. No other telephone numbers are listed for the subject at the local telephone directory.

 

According to the local companies registry subject's trade license hasn’t been renewed since 03/02/2010.

 

Information in this report was obtained from third party sources.

 

Opinion on maximum credit : In the circumstances we recommend

                            international suppliers deal on a

                            strictly cash or prepaid basis.

 

 

Trade risk assessment : No classification (see above comments)

 

PRINCIPAL BANKERS

 

Details of subject's bankers could not be learnt.

 

 

FINANCIAL INFORMATION

 

Balance sheets are not available and no financial information could be obtained from third party sources.

 

 

LEGAL STATUS AND HISTORY

 

Date Started                  : 4 February 2004

 

History                          : The subject company was established in Dubai on 4 February 2004.

 

C.R. No.                        : 65891

 

Trade License No.          : 553190 (expired on: 03/02/2010)

 

Authorised Capital          : Dh 300,000

 

Paid-Up Capital : Dh 300,000

 

Limited Liability Company with the following shareholders :

 

                                                                        Percentage

 

1. Basantani Suresh Shainarai                 25%

   (Indian national)

 

2. Fahim Uddin Khan                                24%

   (Indian national)

 

3. Bahjat Mohammed Mansour *              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 :

 

Hospitality consultancy

 

Trading in hotel interiors and food & beverages.

 

Subject supplies local hotels.

 

Subject's main products include the following :

 

Bed linen, bath linen, housekeeping operating equipment & cleaning supplies, guest amenities, hotel service equipment, guestroom safe, front desk lockers, hotel strong room and vaults, table linen, crockery, cutlery, glassware and kitchen small ware.

 

 

FACILITIES

 

The Company has the following facilities :

 

Administrative office located at the heading address as well as one branch office located elsewhere in Abu Dhabi (see 'Branch Offices' below).

 

 

BRANCH OFFICES

 

M2, E-17 / 28

Sheikha Moosa Al Suwaidi Building

Muroor Street

PO Box 46055

Abu Dhabi

Telephone         : (971 2) 448 5313 (unattended)

Fax                   : (971 2) 448 5314 (unattended)

 

 

SPECIAL NOTE

 

The address given by you: Abu Dhabi applies to subject's branch office address. Please note that subject’s correct administrative office address is as per heading.

 

The telephone and fax numbers given by you: (971 2) 448 5313 and (971 2) 448 5314 respectively are unattended and apply to subject's branch office telephone and fax numbers. Please note that subject’s correct telephone and fax numbers are as per heading.

 

Interviewed: Third party sources.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.96

UK Pound

1

Rs.73.94

Euro

1

Rs.64.56

 

 

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

----

NB

New Business

----

 

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.