MIRA INFORM REPORT
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Report Date : |
15.03.2012 |
IDENTIFICATION DETAILS
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Name : |
KAVITEX TRADING LLC |
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Registered Office : |
Zinal Star Building,
Shop No. 1, Ground Floor, Al Faheidi Street, Al Souq Al Kabir, Bur Dubai, P O
Box 43573, 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 : |
19.12.2000 |
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Com. Reg. No.: |
55749, Dubai |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesale and
retail of textiles and readymade garments |
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No. of Employees
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10 |
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 – 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 : KAVITEX TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 19th December 2000
Commercial Registration Number : 55749, Dubai
Trade Licence Number : 523106
Chamber Membership
Number : 61570
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 10
Activities :
Wholesale and retail of textiles and readymade garments.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Benu Simon
Abraham, Sales Manager
KAVITEX TRADING LLC
Registered &
Physical Address
Building : Zinal Star Building, Shop No. 1,
Ground Floor
Street : Al Faheidi Street
Area : Al Souq Al Kabir, Bur Dubai
PO Box : 43573
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3538677
Facsimile : (971-4) 3533648
Mobile : (971-50) 5015145
Email : kavitex@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
·
Dayal
Jashanmal Samnani Indian Managing Director
·
Satyam
Dayal Samnani Indian Director
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Matar
Khalifa Kishan Al Matar Emirati Director
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Gope Samnani Indian Finance Manager
·
Benu
Simon Abraham - Sales
Manager
Date of Establishment : 19th
December 2000
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 55749, Dubai
Trade Licence No. : 523106
(Expires 18/12/2013)
Chamber Member No. : 61570
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Matar
Khalifa Kishan Al Matar
51%
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Dayal
Jashanmal Samnani 25%
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Satyam
Dayal Samnani 24%
Activities: Engaged in the wholesale and retail of
textiles and readymade garments.
Import
Countries: India, Pakistan,
China and Europe.
Operating Trend: Steady
Subject has a
workforce of 10 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
18,200,000 UAE Dh
19,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Benu Simon Abraham, Sales Manager
·
Habib
Bank AG Zurich
Baniyas Road
Deira
PO Box: 3306
Dubai
Tel: (971-4) 2214535
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.49.90 |
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UK Pound |
1 |
Rs.78.15 |
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Euro |
1 |
Rs.65.09 |
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.