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Report Date : |
23.08.2012 |
IDENTIFICATION DETAILS
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Name : |
METHWANI TRADING LLC |
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Registered Office : |
Al Souq Al Kabir, Shop No. 3 Bur Dubai PO Box-45635 Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
06.03.2008 |
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Com. Reg. No.: |
1025037, Dubai |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Wholesale and retail of textiles and fabrics |
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No. of Employees : |
6 |
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 : |
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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UAE |
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 : METHWANI TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company – LLC
Registration Date : 6th March 2008
Commercial Registration Number : 1025037, Dubai
Trade Licence Number : 607817
Chamber Membership Number : 130304
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 6
Activities : Wholesale and retail of textiles and fabrics
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
METHWANI TRADING LLC
Location : Al Souq Al
Kabir, Shop No. 3
Area : Bur Dubai
PO Box : 45635
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 3540484
Facsimile : (971-4)
3539652
Mobile : (971-50)
3452391
Email : methwani@hotmail.com
/ methwanimk@hotmail.com
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
· Mahindra Methwani
Kanhayalal Indian Managing
Director
· Mahesh Methwani
Kanhayalal Indian Director
· Nasser Saif Ali
Saeed Al Kaabi Emirati Director
Date of
Establishment : 6th
March 2008
Legal Form : Limited Liability
Company – LLC
Commercial Reg.
No. : 1025037, Dubai
Trade Licence No. : 607817 (Expires 05/03/2013)
Chamber Member No. : 130304
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
· Nasser Saif Ali
Saeed Al Kaabi 51%
· Mahindra Methwani
Kanhayalal 25%
· Mahesh Methwani
Kanhayalal 24%
· Vintex Trading LLC
PO Box : 45635
Dubai
Tel: (971-4)
3539650
Fax: (971-4)
3539652
· Vintex Trading LLC
802-C Time Square
Building
Block C, Keqiao
Shaowing
Zhejiang
China
Tel: (575)
81181591
Fax: (575)
81181091
Activities: Engaged in the wholesale and retail of textiles and fabrics,
specialising in silk.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 6 employees.
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/10: Year Ending
31/12/11:
Total Sales UAE
Dh 15,600,000 UAE Dh
16,385,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
HSBC Bank Middle East
Deira Souk Branch
PO Box:
66
Dubai
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
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.55.18 |
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|
1 |
Rs.87.65 |
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Euro |
1 |
Rs.69.16 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
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.