MIRA INFORM REPORT
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Report Date : |
31.10.2011 |
IDENTIFICATION DETAILS
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Name : |
TRIO ENTERPRISES
GENERAL TRADING LLC |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
03.08.2004 |
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Com. Reg. No.: |
69255, |
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Legal Form : |
Limited Liability
Company |
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Line of Business : |
Distributors of
Shredded |
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 : |
Usually correct |
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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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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 : TRIO ENTERPRISES GENERAL TRADING
LLC
Country of Origin :
Legal Form :
Limited Liability Company - LLC
Registration Date : 3rd
August 2004
Commercial
Registration Number : 69255,
Trade Licence
Number : 560128
Chamber Membership
Number : 89850
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 10
Activities :
Distributors of shredded tyre and metal scraps.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 150,000
COMPANY NAME
TRIO ENTERPRISES
GENERAL TRADING LLC
company ADDRESS
Registered & Physical Address
Building :
Area : Karama
PO Box : 49037
Town :
Country :
Telephone : (971-4) 3358722 / 3576651
Facsimile : (971-4) 3358733 / 3576652
Email : hemarani@eim.ae / exim@trio.ae
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
·
Rajesh
Vangano Indian Managing
Director
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Hemarani
Vashu Indian Director
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Noor
Hussain Abul Qassem Ameer Hussain Emirati Director
·
Mahendra
Dave - Commercial
Manager
·
Marcel
Rato - Financial
Controller
LEGAL FORM & OWNERS
Date of Establishment : 3rd
August 2004
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 69255,
Trade Licence No. : 560128
(Expires 02/08/2012)
Chamber Member No. : 89850
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
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Noor
Hussain Abul Qassem Ameer Hussain 51%
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Rajesh
Vangano 25%
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Hemarani
Vashu 24%
AFFILIATED COMPANIES
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ABC
Logistic LLC
PO Box: 49037
Tel: (971-4) 3576651
Fax: (971-4) 3576652
OPERATIONS
Activities: Engaged in the import and distribution of
shredded tyres and metal scraps, including aluminium, copper, brass, zinc and
reinforcing steel bars.
Subject also deals
in foodstuff products, including sugar, rice, beans, nuts, pulses and spices.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a
workforce of 10 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 8,710,000 UAE Dh 9,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
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HSBC
Bank
Deira Souk Branch
PO Box: 66
Tel: (971-4) 2535000
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
This rating
serves as a reference to assess credit risk and for setting the amount of
credit to be extended. It is calculated using information such as Financial
data, Operational size, Payment record, Ownership background and market trend.
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 |
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US Dollar |
1 |
Rs.48.82 |
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1 |
Rs.78.57 |
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Euro |
1 |
Rs.69.29 |
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.