MIRA INFORM
REPORT
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Report Date : |
02.03.2011 |
IDENTIFICATION DETAILS
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Name : |
EPOCH TRADING LLC |
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Registered Office : |
Al Reem Tower, 10th
Floor, Suite 1001, Al Maktoum Street, Rigga Al Bateen, Deira, P O Box 172521,
Dubai |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
31.07.1999 |
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Com. Reg. No.: |
53202, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Import and distribution
of IT 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$ 200,000 |
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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
|
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 : EPOCH TRADING LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 31st July 1999
Commercial Registration Number : 53202,
Trade Licence Number : 513401
Chamber Membership Number : 55570
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Total Workforce : 12
Activities : Import and distribution of IT products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY
NAME
EPOCH TRADING LLC
company ADDRESS
Registered & Physical Address
Building : Al Reem Tower, 10th
Floor,
Street :
Area : Rigga Al Bateen, Deira
PO Box : 172521
Town :
Country :
Telephone : (971-4) 2272484 / 2236232
Facsimile : (971-4) 2227925 / 2248469
Email : epoch@emirates.net.ae / info@epochme.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Amir
Masood Taheri Iranian Managing
Director
·
Mohamed
Hussain Taheri Iranian Director
·
Abubaker
Abdullah Mohamed Zarra Emirati Director
·
Babak
Amin Waji - Sales
Manager
·
Joy
Bortini - Technical
Manager
·
LEGAL FORM & OWNERS
Date of Establishment : 31st
July 1999
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 53202,
Trade Licence No. : 513401
(Expires 30/07/2011)
Chamber Member No. : 55570
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Name of Shareholder
(s) Percentage
·
Abubaker
Abdullah Mohamed Zarra 51%
·
Amir
Masood Taheri 25%
·
Mohamed
Hussain Taheri 24%
OPERATIONS
Activities: Engaged in the import and distribution of
IT products such as data storage devices, floppy disk drives, CD ROM drives,
CD-Rewriters, DVD ROM Drives and DVD Rewriters, computer peripherals, toner
cartridges, and related requisites.
Import
Countries:
Brand Names: SAMSUNG and MITSUMI
Operating Trend: Steady
Subject has a
workforce of 12 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 12,675,000 UAE Dh 13,500,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Babak Amin
Waji, Sales Manager
BANKERS
·
Mashreq
Bank Plc
Deira Branch
PO Box: 1250
Tel: (971-4) 2229131 / 2221134
·
National
Bank of
PO Box: 2979
Tel: (971-4) 3971700 / 5078300
Fax: (971-4) 3979100 / 3973922
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction June
2005
Credit amount 188,760
Amount overdue 0
Payment terms 90
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Canadian
Dollars
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.12 |
|
|
1 |
Rs.73.43 |
|
Euro |
1 |
Rs.62.32 |
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.