MIRA
INFORM REPORT
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Report Date : |
05.01.2012 |
IDENTIFICATION DETAILS
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Name : |
PENORAMIC INTERNATIONAL GENERAL TRADING LLC |
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Registered Office : |
Shangri Office Tower, Level 6 Sheikh Zayed Road Za’abeel 1st
PO Box 118365 Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
24.08.2004 |
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Com. Reg. No.: |
69403, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Distributors of hospitality products, hotel equipment, rice, sugar, cement, medicine and petroleum products. |
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No. of Employees : |
12 |
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$ 150,000 |
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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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
SUMMARY
Company Name : PENORAMIC INTERNATIONAL GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 24th August 2004
Commercial Registration Number : 69403, Dubai
Trade Licence Number : 560432
Chamber Membership Number : 90369
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Total Workforce : 12
Activities : Distributors of hospitality products, hotel equipment, rice, sugar, cement, medicine and petroleum products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
PENORAMIC INTERNATIONAL GENERAL TRADING LLC
ADDRESS
Registered & Physical Address
Building : Shangri
Office Tower, Level 6
Street : Sheikh Zayed
Road
Area : Za’abeel 1st
PO Box : 118365
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 4461800
/ 3304445
Facsimile : (971-4)
3304446
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
· Mansoor Akbar Ali Pakistani Managing
Director
· Shakir Abu Bakar Pakistani Director
· Altaf Noor Ali Ali
Mohamed Hussain Rashid Emirati Director
LEGAL FORM & OWNERS
Date of
Establishment : 24th
August 2004
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 69403, Dubai
Trade Licence No. : 560432 (Expires 13/08/2012)
Chamber Member No. : 90369
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Name of Shareholder (s) Percentage
· Altaf Noor Ali Ali
Mohamed Hussain Rashid 51%
· Mansoor Akbar Ali 25%
· Shakir Abu Bakar 24%
OPERATIONS
Activities: Engaged in the import and distribution of hospitality products, hotel
equipment, rice, sugar, cement,
medicines and petroleum products.
Import Countries: Europe and the Far East.
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 11,725,000 UAE Dh
12,400,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
National Bank of Dubai
Baniyas Street
PO Box:
777
Dubai
Tel:
(971-4) 2222241
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.14 |
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1 |
Rs.83.08 |
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Euro |
1 |
Rs.69.25 |
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.