MIRA INFORM REPORT
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Report Date : |
16.09.2011 |
IDENTIFICATION DETAILS
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Name : |
BUNTY FOODSTUFF TRADING CO LLC |
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Registered Office : |
Emirates Industrial
City, Warehouse No. 12-16, P O Box 33586, Sharjah |
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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 : |
08.0.2005 |
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Com. Reg. No.: |
44041, Sharjah |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Import and distribution
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$ 700,000 |
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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 |
SUMMARY
Company Name : BUNTY FOODSTUFF TRADING CO LLC
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 8th January 2005
Commercial Registration Number : 44041, Sharjah
Trade Licence Number : 518530
Chamber Membership Number : 57036
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 70
Activities : Import and distribution of general foodstuff products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 700,000
Person Interviewed : Suresh Kumar Thawani, Director
COMPANY NAME
BUNTY FOODSTUFF TRADING CO LLC
company ADDRESS
Registered &
Physical Address
Location : Emirates Industrial City,
Warehouse No. 12-16
PO Box : 33586
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5360580
Facsimile : (971-6) 5360590
Mobile : (971-50) 4993076 / 7294781
Email : buntytrd@eim.ae
Premises
Subject operates
from a medium sized suite of offices, a warehouse and a showroom that are
rented and located in the Industrial Area of Sharjah.
KEY PRINCIPALS
Name Nationality Position
·
Bunty Thawani Sirumal Indian Managing
Director
·
Suresh Kumar Thawani Indian Director
·
Faisal Khalifa Rashid Obaid Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 8th
January 2005
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 44041, Sharjah
Trade Licence No. : 518530
Chamber Member No. : 57036
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder
(s) Percentage
·
Faisal Khalifa Rashid Obaid 51%
·
Bunty Thawani Sirumal 25%
·
Suresh Kumar Thawani 24%
AFFILIATED COMPANIES
·
Bunty
Foodstuff Trading Co LLC
Dubai
Tel: (971-4) 2265165
OPERATIONS
Activities: Engaged in the import and distribution of
general foodstuff products.
Import
Countries: India, Sri
Lanka, China and Canada
Operating Trend: Steady
Subject has a
workforce of 70 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
118,000,000 UAE Dh
130,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Suresh Kumar Thawani, Director
BANKERS
·
Middle
East Bank Ltd
Al Boorj Avenue
PO Box: 5169
Sharjah
Tel: (971-6) 5356166
Fax: (971-6) 5356492
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 |
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US Dollar |
1 |
Rs.47.84 |
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UK Pound |
1 |
Rs.75.40 |
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Euro |
1 |
Rs.65.68 |
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.