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Report Date : |
24.03.2012 |
IDENTIFICATION DETAILS
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Name : |
GOLDLINE WORLDWIDE INC |
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Registered Office : |
Suite C-3-31/07 Saif Zone |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
26.12.2001 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Wholesale and retail of general building materials, tools
and scrap metal. |
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No. of Employees : |
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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Maximum Credit Limit : |
US$ 125,000 |
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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 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
UAE |
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 : GOLDLINE WORLDWIDE INC
Country of Origin :
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 26th December 2001
Trade Licence Number : 01-03-01164
Total Workforce : 10
Activities : Wholesale and retail of general building materials, tools and scrap metal.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 125,000
GOLDLINE WORLDWIDE INC
Building : Suite
C-3-31/07
Area : Saif Zone
PO Box : 8443
Town : Sharjah
Country :
Telephone : (971-6) 5473718 / 5570056
Facsimile : (971-6) 5473718 / 5421053
Email : mass2002@eim.ae
Subject operates from a small suite of offices that are rented and
located in the Saif Zone Area of Sharjah.
Name Position
· Jasmine Kaurr
Anand Managing Director
· Rezwan Ali Assistant
General Manager
· Raheel Ahmed Administration
Manager
· Raja Naido Operations
Manager
· Shailesh Jasani Finance
Manager
Date of
Establishment : 26th
December 2001
Legal Form : Subject is the United
Arab Emirates registered branch of Goldline Worldwide Inc, a Limited
Liability Company
incorporated in the
Goldline Worldwide Inc in the
Registered
Corporation.
A Branch
of a Foreign Registered Corporation is not a legal entity in its own right.
Responsibility for payments lays in the hands of the company where it is
originally
registered.
Under these circumstances, we strongly advise that any international
trade credit should
only
be written under the name of the main company where the subject holds its
registered
office, in this case the
Trade Licence No. : 01-03-01164
· Goldline Contracting LLC
Umm
Karama Area
PO Box: 1973
Tel: (971-4) 3334481
Fax: (971-4) 3334448
Activities: Engaged in the wholesale and retail of general building materials,
tools and scrap metal.
Import Countries: Europe and the
Operating Trend: Steady
Subject has a workforce of 10 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 8,300,000 UAE Dh
8,825,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Mashreq Bank Plc
PO Box: 9271
Tel: (971-4)
2229131 / 2221134
No complaints regarding subject’s payments have been reported.
Goldline Worldwide Inc was established in the Saif Zone, Sharjah during
December 2001 and is a foreign registered
branch of Goldline Worldwide Inc, a company incorporated in the
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.50.90 |
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|
1 |
Rs.80.77 |
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Euro |
1 |
Rs.67.40 |
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 |
|
<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.