MIRA INFORM
REPORT
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Report Date : |
20.01.2011 |
IDENTIFICATION DETAILS
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Name : |
TRENDS CREATION LLC |
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Registered Office : |
Al |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
24.05.2006 |
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Com. Reg. No.: |
81029, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesalers and retailers of Indian and Arabic outfits |
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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 : TRENDS CREATION LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 24th May 2006
Commercial Registration Number : 81029,
Trade Licence Number : 581703
Chamber Membership Number : 107811
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 8
Activities : Wholesalers and retailers of Indian and Arabic outfits.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
TRENDS CREATION LLC
company ADDRESS
Registered & Physical Address
Building : Al
Area : Meena Bazaar
PO Box : 114239 & 47151
Town :
Country :
Telephone : (971-4) 3599661 / 3597818 / 3597848
Facsimile : (971-4) 3597848
Email : info@trendscreations.com
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
·
Veena
Narendra Sujapal Indian Managing
Director
·
Barat
Naraindas Sujapal Indian Director
·
Keslan
Madhflan Barmar Indian Director
·
Wali
Mohamed Adam Sulaiman Kenyan Director
·
Adel
Mohamed Abdulla Mohamed Baqer Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 24th
May 2006
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 81029,
Trade Licence No. : 581703
(Expires 23rd May 2011)
Chamber Member No. : 107811
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s)
·
Adel
Mohamed Abdulla Mohamed Baqer
·
Veena
Narendra Sujapal
·
Barat
Naraindas Sujapal
·
Keslan
Madhflan Barmar
·
Wali
Mohamed Adam Sulaiman
OPERATIONS
Activities: Engaged in the wholesale and retail of
Indian and Arabic outfits, including Indian Salwar Kameez, Bridal Ghagara,
Sarees, Tunics, Kurtis and children’s wear as well as Arabic Jalebia and
Panchos.
Import
Countries:
Operating Trend: Steady
Subject has a
workforce of 8 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
10,800,000 UAE Dh
11,500,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Arab
Bank Plc
PO Box: 11364
Tel: (971-4) 2228845
Fax: (971-4) 2285974 / 2940847
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.45.38 |
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|
1 |
Rs.72.71 |
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Euro |
1 |
Rs.61.15 |
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.