MIRA INFORM REPORT

 

 

Report Date :           

29.09.2011

 

IDENTIFICATION DETAILS

 

Name :

INDO GULF STAR GENERAL TRADING LLC

 

 

Registered Office :

Al Mankhool Building (Medic Building), 1st Floor, Office No. 105, Khalid Ibn Al Walid Street (Bank Street), Bur Dubai, P O Box: 242328, Dubai

 

 

Country :

United Arab Emirates 

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

19.12.1998

 

 

Com. Reg. No.:

1042334, Dubai

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Distributors of general foodstuff products, ready made garments, textiles, toys, utensils and stationery

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 300,000

Status :

Satisfactory

Payment Behaviour :

Usually Correct 

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

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

United Arab Emirates 

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                         : INDO GULF STAR GENERAL TRADING LLC

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Limited Liability Company - LLC

Registration Date                                   : 19th December 1998

Commercial Registration Number            : 1042334, Dubai

Trade Licence Number                            : 509280

Chamber Membership Number                : 41401

Issued Capital                                        : UAE Dh 100,000

Paid up Capital                                      : UAE Dh 100,000

Total Workforce                                     : 12

Activities                                               : Distributors of general foodstuff products, ready made garments,

textiles, toys, utensils and stationery.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

Recommended Credit Limit                     : US$ 300,000

Person Interviewed                                 : Sourjeet Kumar Roy, Managing Director

 

 

 

COMPANY NAME

 

INDO GULF STAR GENERAL TRADING LLC

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Al Mankhool Building (Medic Building), 1st Floor, Office No. 105

Street               : Khalid Ibn Al Walid Street (Bank Street)

Area                 : Bur Dubai

PO Box             : 242328

Town                 : Dubai

Country             : United Arab Emirates

Telephone         : (971-4) 3277724 / 3275111 / 3275611

Facsimile          : (971-4) 3277725

Mobile               : (971-50) 9554323

Email                : indogulfdxb@gmail.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

 

·       Sourjeet Kumar Roy                                        Indian                          Managing Director

 

·       Obaid Saeed Rashid Khalifan Al Shamsi           Emirati                        Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 19th December 1998

 

Legal Form                  : Limited Liability Company - LLC

 

Commercial Reg. No.  : 1042334, Dubai

 

Trade Licence No.       : 509280 (Expires 11/12/2011)

 

Chamber Member No. : 41401

 

Issued Capital              : UAE Dh 100,000

 

Paid up Capital            : UAE Dh 100,000

 

Name of Shareholder (s)                                              Percentage

 

·       Obaid Saeed Rashid Khalifan Al Shamsi                           51%

 

·       Sourjeet Kumar Roy                                                        49%

 

 

AFFILIATED COMPANIES

 

·       World Wide Trading FZC

Dubai

Tel: (971-4) 3860220

Fax: (971-4) 3860221

 

·       Euroball Gifts Trading LLC

Dubai

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of general foodstuff products, ready made garments, textiles, toys,  utensils and stationery.

 

Import Countries: India

 

Operating Trend: Steady

 

Subject has a workforce of 12 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 51,600,000                   UAE Dh 55,000,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above figures were provided by Mr Sourjeet Kumar Roy, Managing Director

 

 

BANKERS

 

·       Mashreq Bank Plc

Deira Branch

PO Box: 1250

Dubai

Tel: (971-4) 2229131 / 2221134

Fax: (971-4) 2233784

 

·       Standard Chartered Bank

Al Abbas Building, 3rd Floor

Khalid Bin Waleed Street

PO Box: 999

Dubai

Tel: (971-4) 2520455

 

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.91

UK Pound

1

Rs.76.53

Euro

1

Rs.66.43

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.