MIRA INFORM REPORT
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Report Date : |
30.03.2012 |
IDENTIFICATION DETAILS
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Name : |
UNION STAR GENERAL TRADING LLC |
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Registered Office : |
Shop No. 12, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
26.07.2003 |
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Com. Reg. No.: |
97768, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of automotive spare parts, hardware, building and construction materials |
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No. of Employees
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07 |
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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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 : UNION STAR GENERAL TRADING LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 26th July 2003
Commercial Registration Number : 97768,
Trade Licence Number : 547408
Chamber Membership Number : 79617
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 7
Activities : Distributors of automotive spare parts, hardware, building and
construction materials.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 150,000
UNION STAR GENERAL
TRADING LLC
Registered & Physical
Address
Building : Shop No. 12,
Area : Deira
PO Box : 35690
Town :
Country :
Telephone : (971-4) 2231464
Facsimile : (971-4) 2237595
Email : syed02@emirates.net.ae / unions@eim.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.
Branch Office (s)
Location Description
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Shop
No. 1, Al Noor School Building Showroom
premises
Deira
Tel: (971-4) 2231434 / 2346239
Fax: (971-4) 22185052 / 2346247
Name Nationality Position
·
Sayed
Mohamed Yasser Indian Managing
Director
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Mohamed
Sofyan - Sales
Manager
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Gupo
Kumar - Accounts
Manager
Date of Establishment : 26th
July 2003
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 97768,
Trade Licence No. : 547408
(Expires 22/07/2012)
Chamber Member No. : 79617
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
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Sayed
Mohamed Yasser 51%
·
Members
of Mr Al Hadharem’s family 49%
Activities: Engaged in the import and distribution of
automotive spare parts and related accessories, hardware,
building and construction materials.
Import
Countries: Europe,
International
Suppliers:
·
Force
·
Prestar
·
Olfa
Operating Trend: Steady
Subject has a
workforce of 7 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
12,250,000 UAE Dh
12,910,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Habib
Bank Ltd
Murshid Bazaar
PO Box: 888
Tel: (971-4) 2221281
Fax: (971-4) 2284631
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.51.15 |
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1 |
Rs.81.41 |
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Euro |
1 |
Rs.68.22 |
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.