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Report Date : |
04.07.2012 |
IDENTIFICATION DETAILS
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Name : |
AL JADEER TRADING LLC |
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Formerly Known As : |
Al Jadeer Trading
Est. |
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Registered Office : |
Sons of Majid
Lootah Building, Sikkat Al Khail Street, Deira, P O Box 40653, Dubai |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
17.08.1994 |
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Com. Reg. No.: |
31934, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesalers and retailers of textiles and readymade garments |
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No. of Employees : |
04 |
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 |
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 : AL JADEER TRADING LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 17th August 1994
Commercial Registration Number : 31934,
Trade Licence Number : 235432
Chamber Membership Number : 31664
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 4
Activities : Wholesalers and retailers of textiles and readymade garments.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
AL JADEER TRADING
LLC
Registered &
Physical Address
Building : Sons of
Street :
Area : Deira
PO Box : 40653
Town :
Country :
Telephone : (971-4) 2258936
Facsimile : (971-4) 2255714
Email : aljadeer@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
·
Asif Iqbal Khatri Indian Managing
Director
·
Atiq Mubarak Abdullah Al Eid Emirati Director
·
Khatri Imtiaz Mohamed Siddiq - Sales
Manager
·
Mohamed Hussain Abdullah Khatri - Finance
Manager
Date of Establishment : 17th
August 1994
History :
Subject began in 1994 as a
Sole Proprietorship under the name Al Jadeer Trading Est.
However in 2010 it changed legal form and
became and Limited Liability Company under the name Al Jadeer Trading LLC.
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 31934,
Trade Licence No. : 235432
(Expires 14/08/2012)
Chamber Member No. : 31664
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
·
Atiq Mubarak Abdullah Al Eid 51%
·
Asif Iqbal Khatri 49%
Activities: Engaged in the wholesale and retail of
textiles and readymade garments.
Import
Countries:
Operating Trend: Steady
Subject has a
workforce of 4 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 8,790,000 UAE Dh 9,340,000
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
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 |
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US Dollar |
1 |
Rs.54.81 |
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|
1 |
Rs.86.04 |
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Euro |
1 |
Rs.69.62 |
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.