MIRA INFORM REPORT
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Report Date : |
09.03.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
AL ITTIZAN TRADING COMPANY LLC |
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Registered Office : |
Khyber Building,
Shop No. 9 & 10, Murshid Bazaar, Deira, P O Box 1294, 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 : |
30.06.1994 |
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Com. Reg. No.: |
59572, Dubai |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesale and retail of readymade garments, textiles and fabrics |
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No. of Employees
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06 |
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 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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United Arab Emirates |
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 ITTIZAN TRADING COMPANY LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 30th June 1994
Commercial Registration Number : 59572, Dubai
Trade Licence Number : 234913
Chamber Membership Number : 31071
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 6
Activities : Wholesale and retail of readymade garments, textiles and fabrics.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
ARIC Credit Rating : BB
Recommended Credit Limit : US$ 150,000
AL ITTIZAN TRADING COMPANY LLC
Registered &
Physical Address
Building : Khyber Building, Shop No. 9 &
10
Area : Murshid Bazaar, Deira
PO Box : 1294
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2268335
Facsimile : (971-4) 2267821
Mobile : (971-50) 5955809 / 6952938
Email : ittizan.trading@yahoo.com / parvezkk@hotmail.com
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
·
Kalsekar
Parvis Kassim Indian Managing
Director
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Kassim
Ismail Kalsekar Indian Director
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Abdullah Ali Ahmad Saleh Emirati Director
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Mohamed
Tanweer - Sales
Manager
Date of Establishment : 30th
June 1994
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 59572, Dubai
Trade Licence No. : 234913
(Expires 28/06/2012)
Chamber Member No. : 31071
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Abdullah
Ali Ahmad Saleh 51%
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Kalsekar
Parvis Kassim 25%
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Kasam Ismail
Kalsekar 24%
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Dream
Home Textile Trading
Dubai
Tel: (971-4) 2264333
Activities: Engaged in the wholesale and retail of
readymade garments, textiles and fabrics.
Import
Countries: Europe and the
Far East.
International
Suppliers:
·
Roma
Classic Pakistan
·
Sana
Textile Pakistan
Operating Trend: Steady
Subject has a
workforce of 6 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
12,500,000 UAE Dh
12,825,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Emirates
Bank International Ltd
Baniyas Road
Deira
PO Box: 2923
Dubai
Tel: (971-4) 3160316
Fax: (971-4) 2264302
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.57 |
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UK Pound |
1 |
Rs.79.57 |
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Euro |
1 |
Rs.66.50 |
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.