|
Report Date : |
24.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
SINGHI TRADING CO LLC |
|
|
|
|
Registered Office : |
Obaid Omer Mohamed Building, 1st Floor, Flat No.
106, Suq Al Kabir Street, Murshid
Bazaar, Deira, P O Box 42467, Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
20.09.2001 |
|
|
|
|
Com. Reg. No.: |
57480, Dubai |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Distributors of household utensils and stainless steel products. |
|
|
|
|
No. of Employees : |
04 employees |
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 |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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) |
|
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 |
Company Name : SINGHI TRADING CO LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 20th September 2001
Commercial Registration Number : 57480, Dubai
Trade Licence Number : 529207
Chamber Membership Number : 65137
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 4
Activities : Distributors of of household utensils and stainless steel products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Pandam Jodmani, Commercial Manager
SINGHI TRADING CO
LLC
Registered &
Physical Address
Building : Obaid Omer Mohamed Building, 1st
Floor, Flat No. 106
Street : Suq Al Kabir Street
Area : Murshid Bazaar, Deira
PO Box : 42467
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2350272
Facsimile : (971-4) 2350271
Mobile : (971-50) 6254497
Email : nksinghi@emirates.net.ae
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Naresh
Kumar Singhi Indian Managing Director
·
Sajan
Kumar Singhi Indian Director
·
Mohamed
Abdullah Abdul Karim Hussain Blooki Emirati Director
·
Pandam
Jodmani - Commercial
Manager
·
Jado
Manish Pardan - Sales Manager
Date of Establishment : 20th
September 2001
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 57480, Dubai
Trade Licence No. : 529207
(Expires 19/09/2013)
Chamber Member No. : 65137
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Mohamed
Abdullah Abdul Karim Hussain Blooki 51%
·
Naresh
Kumar Singhi 25%
·
Sajan
Kumar Singhi 24%
·
Dubai
Business Management Consultant
PO Box: 41191
Dubai
Tel: (971-4) 2288895
Fax: (971-4) 2288893
·
Indus International Trading LLC
Dubai
Activities: Engaged in the import and distribution of
household utensils and stainless steel products.
Import Countries: Europe and the Far East.
Brand Names: SKG, QUALITY and INDUS
Operating Trend: Steady
Subject has a
workforce of 4 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 7,400,000 UAE Dh 8,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Mashreq
Bank Plc
Deira Branch
PO Box: 1250
Dubai
Tel: (971-4) 2229131 / 2221134
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.55.19 |
|
UK Pound |
1 |
Rs.87.65 |
|
Euro |
1 |
Rs.69.16 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.