MIRA INFORM
REPORT
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Report Date : |
25.01.2011 |
IDENTIFICATION DETAILS
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Name : |
CHOICE LINE TRADING EST |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
11.06.2003 |
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Com. Reg. No.: |
97028, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and retail
of readymade garments and footwear |
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 : CHOICE LINE TRADING EST
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 11th June 2003
Commercial Registration Number : 97028,
Trade Licence Number : 545788
Chamber Membership Number : 78428
Invested Capital : UAE Dh 200,000
Total Workforce : 5
Activities : Wholesale and retail of readymade garments and footwear
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
CHOICE LINE TRADING EST
company ADDRESS
Registered & Physical Address
Building :
Street :
Area : Murshid Bazaar
PO Box : 40370 & 41350
Town :
Country :
Telephone : (971-4) 2249911 / 2352345 / 2351260
Facsimile : (971-4) 2213910 / 2351320 / 2352346
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
·
Raj Kumar Chand Indian Proprietor
& General Manager
·
Fatima Abbas Karam Emirati Local
Sponsor
LEGAL FORM & OWNERS
Date of Establishment : 11th
June 2003
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 97028,
Trade Licence No. : 545788
(Expires 06/06/2011)
Chamber Member No. : 78428
Invested Capital
: UAE Dh 200,000
Mr Raj Kumar Chand is
the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of
readymade garments and footwear.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a workforce
of 5 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/08: Year
Ending 31/12/09:
Total Sales UAE Dh 6,300,000 UAE Dh 6,825,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Emirates
Bank International Ltd
Deira
PO Box: 2923
Tel: (971-4) 2256256 / 2256900
Fax: (971-4) 2268005 / 2267718
·
Habib
Bank AG
Trade Service Centre
Murshid Bazaar
PO Box: 888
Tel: (971-4) 2221281
Fax: (971-4) 2284631
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
business 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.45.58 |
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1 |
Rs.72.79 |
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Euro |
1 |
Rs.62.01 |
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.