MIRA INFORM REPORT
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Report Date : |
14.10.2011 |
IDENTIFICATION DETAILS
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Name : |
DREAMS CLOSET TRADING LLC |
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Registered Office : |
Sons of Rashid Measam
Juma Building, Sikhat Al Khail Street, Murshid Bazaar, Al Bateen, P O Box
43427, 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 : |
10.05.2000 |
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Com. Reg. No.: |
54535, Dubai |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesale and retail of linens, readymade garments, gifts, perfumes, handbags, toys, watches and shoes |
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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
SUMMARY
Company Name : DREAMS CLOSET TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 10th May 2000
Commercial Registration Number : 54535, Dubai
Trade Licence Number : 518416
Chamber Membership Number : 55421
Issued Capital : UAE Dh 600,000
Paid up Capital : UAE Dh 600,000
Total Workforce : 5
Activities : Wholesale and retail of linens, readymade garments, gifts, perfumes,
handbags, toys, watches and shoes.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
DREAMS CLOSET TRADING LLC
COMPANY ADDRESS
Registered &
Physical Address
Building : Sons of Rashid Measam Juma
Building
Street : Sikhat Al Khail Street
Area : Murshid Bazaar, Al Bateen
PO Box : 43427
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2253231
Facsimile : (971-4) 2250511
Mobile : (971-50) 5646950
Email : closet@emirates.net.ae
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
·
Rajesh
Kumar Sood Indian Managing
Director
·
Sahil
Sood Rajesh Kumar Sood Indian Director
·
Ali
Abdulwahab Mohamed Abdulwahab Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 10th May
2000
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 54535, Dubai
Trade Licence No. : 518416
(Expires 09/05/2012)
Chamber Member No. : 55421
Issued Capital : UAE Dh 600,000
Paid up Capital : UAE Dh 600,000
Name of Shareholder
(s) Percentage
·
Ali
Abdulwahab Mohamed Abdulwahab 51%
·
Rajesh
Kumar Sood 37%
·
Sahil
Sood Rajesh Kumar Sood 12%
OPERATIONS
Activities: Engaged in the wholesale and retail of
blankets, towels, linens, readymade garments, shoes, handbags, jewellery, perfumes, cosmetics, watches and
toys. Subject also provides embroidery services.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 5 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 7,340,000 UAE Dh 7,800,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Commercial
Bank of Dubai
Mankhool Street
PO Box: 2668
Dubai
Tel: (971-4) 3523355
Fax: (971-4) 3527655 / 2524796
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 |
|
US Dollar |
1 |
Rs.49.02 |
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UK Pound |
1 |
Rs.77.13 |
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Euro |
1 |
Rs.67.56 |
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.