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Report Date : |
31.07.2012 |
IDENTIFICATION DETAILS
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Name : |
ZEE PALACE FASHION LLC |
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Registered Office : |
Mohamed Ahmed
Capital Building, Al Faheidi
Street, Murshid Bazaar, P O Box 8044, 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 : |
16.02.1993 |
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Com. Reg. No.: |
53931, Dubai |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesale and retail of readymade garments, fashion accessories, textiles and fabrics |
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No. of Employees : |
14 |
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) |
|
United Arab
Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
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 : ZEE PALACE FASHION LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 16th February 1993
Commercial Registration Number : 53931, Dubai
Trade Licence Number : 230241
Chamber Membership Number : 26448
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 14
Activities : Wholesale and retail of readymade garments, fashion accessories,
textiles and fabrics
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
ZEE PALACE FASHION
LLC
Registered &
Physical Address
Building : Mohamed Ahmed Capital Building
Street : Al Faheidi Street
Area : Murshid Bazaar
PO Box : 8044
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3538131 / 3531951 / 3356199
Facsimile : (971-4) 3533267
Mobile : (971-50) 4527183
Email : mail@silkland.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
·
Manish
Delkush Doshi Indian Managing
Director
·
Ms Akansha Pilani Indian Director
·
Abdullah
Ali Ahmad Saleh Emirati Director
·
Dr
Sajay Gadev - General
Manager
·
Vijay
Narayan Tivari - Commercial
Manager
Date of Establishment : 16th
February 1993
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 53931, Dubai
Trade Licence No. : 230241
(Expires 15/02/2013)
Chamber Member No. : 26448
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Abdullah
Ali Ahmad Saleh 51%
·
Ms Akansha Pilani 25%
·
Manish
Delkush Doshi 24%
·
Silk
Land Trading LLC
Dubai
Tel: (971-4) 3233237
Email: mail@silkland.ae
Activities: Engaged in the wholesale and retail of
readymade garments, fashion accessories, textiles and fabrics.
Import
Countries: Pakistan,
Thailand, India and Europe.
Operating Trend: Steady
Subject has a
workforce of 14 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
13,400,000 UAE Dh
20,000,000
Local sources
consider subject’s financial condition to be Fair.
·
National
Bank of Ras Al Khaimah
Al Maktoum Street
PO Box: 1531
Dubai
Tel: (971-4) 2226291
Fax: (971-4) 2281312
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.55.44 |
|
UK Pound |
1 |
Rs.87.12 |
|
Euro |
1 |
Rs.68.15 |
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 |
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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 |
|
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 |
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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 |
|
<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.