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Report Date : |
28.03.2012 |
IDENTIFICATION DETAILS
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Name : |
LULU CENTRE LLC |
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Formerly Known As : |
LULU CENTRE
TRADING COMPANY |
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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 : |
11.01.1994 |
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Com. Reg. No.: |
26817, |
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Legal Form : |
Limited Liability
Company - LLC |
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Line of Business : |
Owners and
operators of a shopping centre |
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No. of Employees : |
400 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 1,500,000 |
|
Status : |
Good |
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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) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company Name : LULU CENTRE LLC
Also Known As
: LULU CENTRE TRADING COMPANY
Country of Origin :
Legal Form :
Limited Liability Company - LLC
Registration Date : 11th
January 1994
Commercial
Registration Number : 26817,
Trade Licence
Number :
1024852
Chamber Membership
Number : 16917
Issued Capital : UAE Dh
1,000,000
Paid up Capital : UAE Dh
1,000,000
Total Workforce : 400
Activities :
Owners and operators of a shopping centre.
Financial Condition : Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 1,500,000
Person Interviewed : Rafiq T Mahmoud, Finance Manager
LULU CENTRE LLC
ALSO KNOWN AS: LULU CENTRE TRADING COMPANY
Building :
Street :
PO Box : 4048
Town :
Country :
Telephone : (971-2) 6734348 / 6411200 / 6421800 /
6422877
Facsimile : (971-2) 6734345
Email : rafiq@ea.lulumea.com / luluexp@emirates.net.ae
Subject operates from
a large suite of offices and a shopping centre that are owned and located in
the Central Business Area of Abu Dhabi.
Branch Offices
Location Description
·
Tel: (971-2) 6421880 / 6272828
·
Name Nationality Position
·
M
K Abdullah Indian Managing Director
·
Yousef
Ali M A Amin Indian Director
·
Hamd
Rashid Al Daheri Emirati Director
·
V
A Saleem - General
Manager
·
Rafiq T Mahmoud - Finance
Manager
·
Mohamed Haneef - Assistant
Finance Manager
Date of Establishment : 11th
January 1994
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 26817,
Trade Licence No. : 1024852
Chamber Member No. : 16917
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
·
EMKE
Group
·
Hamd
Rashid Al Daheri
Subject is a member of the well known EMKE Group which has operations
dating back to 1966. It has diversified activities covering the department
store/supermarket and hypermarket business, as well as the import and distribution of food stuff and
consumer staple goods, garment manufacturing and also information technology
training.
Based in the
The EMKE Group consists of the following concerns:
·
EMKE
General Trading
Al Qusais
PO Box: 60188
Tel: (971-4) 2670077
Fax: (971-4) 2670088
·
Al
Tayeb Meat Est
Mina Free Zone
PO Box: 4048
Tel: (971-2) 6732141
Fax: (971-2) 6732144
·
Al
Tayeb Cold Stores LLC
Mina Free Port
PO Box: 4048
Tel: (971-2) 6731831 / 6730393
Fax: (971-2) 6731124
Email: altcs@emirates.net.ae
·
Gulf Star
Est
PO Box: 27608
Tel: (971-2) 4481200
Fax: (971-2) 4481718
·
Huda
Shipping International
Mina Zayed
PO Box: 4048
Tel: (971-2) 6224226
Fax: (971-2) 6224244
·
Syscoms
Information Technology
PO Box: 4048
Tel: (971-2) 6224226
Fax: (971-2) 6224244
·
Asif
Jewellery
PO Box: 4048
Tel: (971-2) 6331366
Fax: (971-2) 6334466
·
EMKE
Stores
Mina
PO Box: 4048
Tel: (971-2) 6732131
Fax: (971-2) 6732151
·
Emke
Commodities (
PO Box: 1556
Tel: (254-11) 434463
Fax: (254-11) 432390
·
EMKE
Tanzania Ltd
PO Box: 40652
Dar Ed Salaam
·
EMKE
Garments (
PO Box: 1556
Tel: (254-11) 432585
Fax: (254-11) 432390
·
Fair
Exports (
501 Madhava Bandra Kurla
Complex
Bandra (East)
Mumbai 400051
·
E K
Prima Exports Thailand Ltd
64/16 Sukhumvil Soi-20
·
E K
Prima Exports HongKong Ltd
Yu Cheong
Fotan
·
P.T.E.K.
Prima Ekspor
J1, Mangga Dua Raya
Block C 12
Tel: (62-21) 6128791/ 6128792
Fax: (62-21) 6019438
·
Y Tex
Fashions
Bajos 1, 08922
Santa Coloma Degramnet
Activities: Engaged as owners and operators of a
shopping centre, selling electronic
products, electrical appliances, computers, games, readymade garments and
textile.
Operating Trend: Steady
Subject has a workforce
of approximately 400 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 58,250,000 UAE Dh 62,000,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Rafiq T
Mahmoud, Finance Manager
·
ANZ
Grindlays Bank
PO Box: 1100
Near Clock Tower
Al Ain
Tel: (971-3) 643400
Fax: (971-3) 645121
No complaints
regarding subject’s payments have been reported.
Credit amount 150,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency
Established in
1994, subject belongs to the EMKE group of companies and is involved in the
operation of a shopping centre.
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 |
|
|
1 |
Rs.81.27 |
|
Euro |
1 |
Rs.67.98 |
RATING EXPLANATIONS
|
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 |
|
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 |
|
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 |
|
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.