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MIRA INFORM REPORT
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Report Date : |
07.07.2011 |
IDENTIFICATION DETAILS
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Name : |
SLCL OVERSEAS (FZC) |
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Registered Office : |
SAIF Zone, P.O.Box No.120651,
Sharjah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
05.04.2008 |
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Legal Form : |
Free Zone Limited Liability Company |
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Line of Business : |
importers, wholesalers
and retailers of textiles,
garments and towels |
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 : |
Dh 2,000,000 |
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Status : |
Good |
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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 |
company NAME
SLCL Overseas (FZC)
Company
ADDRESS
Area : SAIF Zone
P.O.Box No. : 120651
Town : Sharjah
Country : United Arab Emirates
Telephone : (971 4) 353 3534 / Mobile (971 50) 735 8334
Fax : (971 4) 353 3234
E-Mail : taruny2k@gmail.com
SENIOR
COMPANY PERSONNEL
Name
Position
1. M. D. Agrawal
Managing Director
2. Stenon Daryani
Accountant
Total Employees : 6
PAYMENTS
No complaints have been heard regarding payments from local suppliers or
banks.
Subject is a member of the Indian based Shri Lakshmi Group. The group is
a USD$ 400 million group of seven companies which are diversified in different
directions so as to fulfil each and every demand of our worldwide customers.
We consider it is acceptable to deal with subject for LARGE amounts.
Opinion on maximum credit : Dh 2,000,000
Trade risk assessment: Normal
PRINCIPAL BANKERS
NAME :
NATIONAL BANK OF FUJAIRAH
Branch :
Al Buheira Corniche
PO
Box :
1416
Town :
Sharjah
Telephone : (971 6) 556 1100
Fax :
(971 6) 556 1010
FINANCIAL INFORMATION
Private companies in United Arab Emirates are not required to publish or
disclose balance sheets. However, the subject interviewed offered
the following information :
Sales Turnover : IN Rs 1,027,000,000 - 2009 - exact
: IN Rs 1,530,000,000 -
2010 – exact
Net Profit : not
given
Financial year ends 30 June.
LEGAL STATUS AND HISTORY
Date Started : 5 April 2008
History : The subject company was established in Sharjah on 5 April
2008.
Trade License No.: 51927 (expiry date: 04/04/2012)
Authorised Capital : Dh 150,000
Paid-Up Capital : Dh
150,000
Free Zone Limited Liability
Company with the following sole shareholder :
Shri Lakshmi Cotsyn Limited 100%
19/X-1, Krishnapuram, G.T. Road,
Uttar Pradesh,
Kanpur – 208007
India
Telephone : (91 512) 240 1492 / 240 2893 / 240 2733
Fax : (91 512) 240 2339
*
According to Sharjah Airport International Free Zone (SAIF-Zone),
established
in 1995, a legally capable person natural or juridical
can
register a Free Zone Establishment (FZE) which must have only one
owner
(shareholder).To operate from within the SAIF-Zone, a Free Zone
Company
(FZC) has to be incorporated with two or more legally capable
persons
natural or juridical. In normal cases the maximum number of
shareholders
is up to 5 and if approved by the SAIF-Zone management
the
maximum number of shareholders can go up to 7 shareholders. The
minimum
amount of capital required for both FZEs and FZCs is Dh
150,000/-
or its equivalent in US Dollars. Liability shall be limited
to
the FZE's share capital.
ACTIVITIES
The
Company is involved in the following activities :
Trading
as importers, wholesalers and retailers of textiles, garments and towels.
Imports
from India, China and South Korea.
Exports
to GCC countries, Africa, Pakistan and Yemen.
FACILITIES
The
Company has the following facilities :
Administrative
offices and storage facilities
located at the heading.
SPECIAL NOTE
Interviewed:
Stenon Daryani (Accountant)
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.71.24 |
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Euro |
1 |
Rs.64.16 |
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.