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Report Date : |
14.06.2012 |
IDENTIFICATION DETAILS
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Name : |
SHEEBA GENERAL TRADING CO LLC |
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Registered Office : |
Al |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
06.05.1979 |
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Com. Reg. No.: |
62881, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesalers and retailers of electrical equipment, perfumes, mobile telephones and video cameras |
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No. of Employees : |
50 |
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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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 : SHEEBA GENERAL TRADING CO LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 6th May 1979
Commercial Registration Number : 62881,
Trade Licence Number : 204293
Chamber Membership Number : 5594
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Total Workforce : 50
Activities : Wholesalers and retailers of electrical equipment, perfumes, mobile
telephones and video cameras.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Gopal Goyale, Finance Manager
SHEEBA GENERAL
TRADING CO LLC
Registered &
Physical Address
Building : Al
Street :
PO Box : 51305
Town :
Country :
Telephone : (971-4) 3511211
Facsimile : (971-4) 3525031
Email : sheebagt@eim.ae
Premises
Subject operates
from a medium sized suite of offices and a showroom that are rented and located
in the Central Business Area of Dubai.
Name Nationality Position
·
Babu
Jethani Jajumal Getani
Indian Managing
Director
·
Beena
Jethani Shankardas Indian Director
·
Sheeba
Jethani Babu Jethani
Indian Director
·
Hassan
Abdullah Hussain Mohamed Emirati Director
·
Naresh Balchandani - General
Manager
·
Gopal Goyale - Finance
Manager
Date of Establishment : 6th
May 1979
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 62881,
Trade Licence No. : 204293
(Expires on 01/04/2013)
Chamber Member No. : 5594
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Name of Shareholder
(s) Percentage
·
Hassan
Abdullah Hussain Mohamed 51%
·
Babu
Jethani Jajumal Getani 24%
·
Beena
Jethani Shankardas 22%
·
Sheeba
Jethani Babu Jethani 3%
·
Gaybee Overseas LLC
·
Makers House LLC
Activities: Engaged in the wholesale and retail of
electrical equipment, perfumes, mobile telephones and video
cameras.
Import
Countries:
Operating Trend: Steady
Subject has a
workforce of 50 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
78,600,000 UAE Dh
85,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Gopal Goyale, Finance Manager
·
Bank
Saderat
PO Box: 4182
Tel: (971-4) 2221161
Fax: (971-4) 2234460
No complaints
regarding subject’s payments have been reported.
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency
Sheeba General
Trading Co LLC is very well established in the local market with operations
dating back to 1979. The company specialises in the import, distribution and
retail of electrical equipment and supplies.
During the course
of this investigation nothing detrimental was uncovered regarding the manner in
which payment obligations are fulfilled. The operating history is clear and the
financial situation is satisfactory. As such we are of the opinion that the
subject is a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.85 |
|
|
1 |
Rs.86.88 |
|
Euro |
1 |
Rs.69.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.