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Report Date : |
27.06.2012 |
IDENTIFICATION DETAILS
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Name : |
RED STAR GENERAL
TRADING LLC |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
17.01.1987 |
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Com. Reg. No.: |
999051, |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Wholesale and retail
of textiles, household linens, cosmetics and beauty products. |
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No. of Employees : |
9 |
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) |
|
|
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 : RED STAR GENERAL TRADING LLC
Country of Origin :
Legal Form :
Limited Liability Company - LLC
Registration Date : 17th
January 1987
Commercial
Registration Number : 999051,
Trade Licence
Number : 209376
Chamber Membership
Number : 12028
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 9
Activities :
Wholesale and retail of textiles, household linens, cosmetics and beauty
products.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Haresh
Dholuwani, Sales Manager
RED STAR GENERAL
TRADING LLC
Building :
Street :
PO Box : 12617
Town :
Country :
Telephone : (971-4) 2251105
Facsimile : (971-4) 2253424
Email : nareshchugani@hotmail.com
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
·
Kimo
Ditaram Ashok Indian Managing
Director
·
Naresh
Khimchand Choghani
Indian Director
·
Hareb
Hassan Ahmed Saeed
Emirati Director
·
Naresh
Tekwani - General
Manager
·
Haresh
Dholuwani - Sales
Manager
Date of Establishment : 17th
January 1987
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 999051,
Trade Licence No. : 209376
Chamber Member No. : 12028
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Hareb
Hassan Ahmed Saeed 51%
·
Kimo
Ditaram Ashok 25%
·
Naresh
Khimchand Choghani 24%
·
Navekala Textile LLC
Souq Al Kabir
Tel:
(971-4) 3530417
Activities: Engaged in the wholesale and retail of textiles,
household linens, cosmetics and beauty products.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a
workforce of 9 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 12,800,000 UAE Dh 13,650,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Commercial
Bank of
Deira
PO Box: 1709
Tel: (971-4) 2227121 / 2253222
Fax: (971-4) 2220943 / 2254565
·
Standard
Chartered Bank
Trade Services Centre
Al
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.57.07 |
|
|
1 |
Rs.88.95 |
|
Euro |
1 |
Rs.71.40 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
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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.