MIRA INFORM
REPORT
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Report Date : |
01.07.2011 |
IDENTIFICATION DETAILS
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Name : |
HARYANA TRADING CO LLC |
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Registered Office : |
Shop No. 2, Al Ras
Street, Al Ras, Deira, P O Box 64989, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
09.12.2007 |
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Com. Reg. No.: |
1020267, Dubai |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesale and retail of general foodstuff products |
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 : HARYANA TRADING CO LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 9th December 2007
Commercial Registration Number : 1020267, Dubai
Trade Licence Number : 603872
Chamber Membership Number : 126886
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 10
Activities : Wholesale and retail of general foodstuff products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 100,000
COMPANY NAME
HARYANA TRADING CO
LLC
company ADDRESS
Registered & Physical Address
Building : Shop No. 2
Street : Al Ras Street
Area : Al Ras, Deira
PO Box : 64989
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2350358 / 2351563
Facsimile : (971-4) 2350359 / 2351593
Mobile : (971-50) 1756402
Email : dubaihtc@eim.ae
/ dxbhtc@gmail.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
·
Niahar Mittal Indian Managing
Director
·
Kushal Mittal Indian Director
·
Baldev Kumar Ghanshyamdas Indian Director
·
Faisal
Khalifa Rashid Obaid Al Mashwi Al Suwaidi Emirati General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 9th
December 2007
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1020267,
Dubai
Trade Licence No. : 603872
(Expires 05/12/2011)
Chamber Member No. : 126886
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s)
·
Niahar Mittal
·
Kushal Mittal
·
Baldev Kumar Ghanshyamdas
AFFILIATED COMPANIES
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Grainwell FZE
Al Ras Building, Shop No. 2
Al Ras Street
Deira
PO Box: 64989
Dubai
Tel: (971-4) 2350358 / 2351563
Fax: (971-4) 2350359 / 8856939
OPERATIONS
Activities: Engaged in the wholesale and retail of
general foodstuff products, specialising in rice, grain and dried
foods.
Import
Countries: India
Subject has a
workforce of 10 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales UAE Dh 6,620,000 UAE Dh 7,050,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Mashreq
Bank Plc
Deira Branch
PO Box: 1250
Dubai
Tel: (971-4) 2229131 / 2221134
Fax: (971-4) 2233784
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
According to local
sources subject is making steady progress in the local business market and
nothing detrimental has been reported regarding 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.44.72 |
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UK Pound |
1 |
Rs.71.96 |
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Euro |
1 |
Rs.64.79 |
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.