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Report Date : |
28.04.2012 |
IDENTIFICATION DETAILS
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Name : |
SANYA CHEMICALS TRADING LLC |
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Registered Office : |
Al Karama, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
13.10.2008 |
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Com. Reg. No.: |
1036093, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of acids, alkalines, construction chemicals, detergents, disinfectants, industrial solvents, paint, varnish, plastic & nylon raw materials, tannery and dyeing materials. |
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No. of Employees : |
05 |
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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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 – 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 : SANYA CHEMICALS TRADING LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 13th October 2008
Commercial Registration Number : 1036093,
Trade Licence Number : 617392
Chamber Membership Number : 154205
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 5
Activities : Distributors of acids, alkalines, construction chemicals, detergents,
disinfectants, industrial solvents, paint, varnish, plastic & nylon raw
materials, tannery and dyeing materials.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
SANYA CHEMICALS
TRADING LLC
Registered & Physical Address
Location : Al Karama
PO Box : 186321 & 96066
Town :
Country :
Telephone : (971-4) 2624400
Facsimile : (971-4) 2653523
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Nikunj
Kanakia Kirti Indian Managing
Director
·
Keerthinhai
Manmohan Das Kanakia Indian Director
·
Khalid
Abdullah Abdul Jabbar Mohamed Emirati Director
Date of Establishment : 13th October
2008
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1036093,
Trade Licence No. : 617392
(Expires 12/10/2012)
Chamber Member No. : 154205
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Khalid
Abdullah Abdul Jabbar Mohamed 51%
·
Nikunj
Kanakia Kirti 25%
·
Keerthinhai
Manmohan Das Kanakia 24%
Activities: Engaged in the import and distribution of
acids, alkalines, construction chemicals, detergents,
disinfectants, industrial solvents, paint, varnish, plastic and nylon
raw materials, tannery and dyeing
materials.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a
workforce of 5 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 8,375,000 UAE Dh 8,790,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
HSBC
Bank
Deira Souk Branch
PO Box: 66
Tel: (971-4) 2535000
No complaints
regarding subject’s payments have been reported.
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.52.68 |
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|
1 |
Rs.85.12 |
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Euro |
1 |
Rs.69.38 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.