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Report Date : |
19.04.2012 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Al Shorafa Building, Shop No.
9, Al Fahidi Street, Wholesale Textile Market, PO Box 45866, Dubai |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
09.11.1993 |
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Com. Reg. No.: |
53899 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesale and retail
of textiles and fabrics. |
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No. of Employees : |
07 |
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$ 250,000 |
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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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
Company Name :
Country of Origin :
Legal Form :
Limited Liability Company - LLC
Registration Date :
9th November 1993
Commercial Registration Number : 53899,
Trade Licence Number :
232523
Chamber Membership Number :
28718
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
7
Activities :
Wholesale and retail of textiles and fabrics.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit :
US$ 250,000
Person Interviewed :
Bhaven Chand, Finance Manager
Registered
& Physical Address
Building : Al Shorafa Building, Shop No. 9
Street :
Area :
Wholesale Textile Market
PO Box : 45866
Town :
Country : United Arab
Emirates
Telephone :
(971-4) 3537890
Facsimile :
(971-4) 3533952
Email : malawitrading@gmail.com
/ malawi@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.
Name Nationality Position
Jagdesh Bhawandas Amarnani Indian Managing Director
Paresh Kumar Amarnani Indian Director
Abdullah Ali Asghar Abdullah Alabdulla Emirati Director
Bhaven Chand - Finance
Manager
Samir Gaja - Sales
Manager
Date of Establishment : 9th
November 1993
Legal Form : Limited Liability Company - LLC
Commercial Reg. No. :
53899,
Trade Licence No. :
232523 (Expires 08/11/2012)
Chamber Member No. : 28718
Issued Capital : UAE
Dh 300,000
Paid up Capital : UAE Dh 300,000
Name
of Shareholder (s) Percentage
Abdullah Ali Asghar Abdullah Alabdulla 51%
Jagdesh Bhawandas Amarnani 25%
Paresh Kumar Amarnani 24%
Malabar Textile Trading Co LLC
PO Box: 51718
Tel:
(971-4) 3533581
Fax:
(971-4) 3537824
Activities:
Engaged in the wholesale and retail of textiles and fabrics.
Import Countries:
Europe and the
Operating Trend:
Steady
Subject has a workforce of 7 employees.
Financial highlights provided by local sources are given
below:
Currency:
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales UAE
Dh 27,000,000 UAE Dh
22,000,000
Local sources consider subject’s financial condition to be
Fair.
The above figures were provided by Mr Bhaven Chand, Finance
Manager
Habib Bank Ltd
Murshid Bazaar
PO Box: 888
Tel: (971-4) 2221281
Fax: (971-4) 2284631
Emirates Bank International Ltd
Deira
PO Box: 2923
Tel: (971-4) 2256256 / 2256900
Fax: (971-4) 2268005 / 2267718
Acc No.
004401633500
No complaints regarding subject’s payments have been
reported.
Date of transaction April
2008
Credit amount 150,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency
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.51.50 |
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|
1 |
Rs.81.99 |
|
Euro |
1 |
Rs.67.54 |
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 |
---- |
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.