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Report Date : |
27.03.2012 |
IDENTIFICATION DETAILS
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Name : |
GULF GATE GENERAL TRADING 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 : |
21.12.2004 |
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Com. Reg. No.: |
71289, |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Distributors of sugar, rice, petroleum products, fertilizers and metals. |
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No. of Employees : |
3 |
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$ 500,000 |
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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) |
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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 : GULF GATE GENERAL TRADING LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 21st December 2004
Commercial Registration Number :
71289,
Trade Licence Number : 564025
Chamber Membership Number : 93159
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Total Workforce : 3
Activities : Distributors of sugar, rice, petroleum products, fertilizers and metals.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 500,000
Person Interviewed : Nasrin Hashemy, General Manager
GULF GATE GENERAL TRADING LLC
Building : Al
Street :
Area : Al Quoz Area
PO Box : 120558 &
120011
Town :
Country :
Telephone : (971-4) 3391434
Facsimile : (971-4)
3391432
Email : info@gulfgategeneraltrading.com
Please note that subject’s previous address was Al Quoz Building, Office
No. 202,
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
Name Nationality Position
· Chris M
Kulathooran Indian Managing
Director
· Ali Abdul Rahman
Mohamed Abdullah Emirati Director
· Nasrin Hashemy - General
Manager
Date of
Establishment : 21st December
2004
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 71289,
Trade Licence No. : 564025 (Expires 18/12/2012)
Chamber Member No. : 93159
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
· Ali Abdul Rahman
Mohamed Abdullah 51%
· Chris M
Kulathooran 49%
·
Activities: Engaged in the import and distribution of sugar, rice, petroleum
products like D2, oil bitumen, polymer bitumen, fertilizers - urea, rock
phosphate, sulphur, ferrous and non-ferrous metal ingots and scraps as per ISRI
specifications.
Import Countries: Europe and
International Suppliers:
· GRD International
Operating Trend: Steady
Subject has a workforce of 3 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 38,750,000 UAE Dh
45,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Nasrin Hashemy, General Manager
·
Mashreq Bank Plc
Deira Branch
PO Box: 1250
Tel: (971-4)
2229131 / 2221134
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.51.30 |
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|
1 |
Rs.81.36 |
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Euro |
1 |
Rs.67.97 |
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 |
-- |
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.