MIRA INFORM REPORT

 

 

Report Date :

15.05.2012

 

IDENTIFICATION DETAILS

 

Name :

HAMOOD AL WAEEL HOUSEHOLD APPLIANCES TRADING LLC

 

 

Registered Office :

Al Mussabah Building Al Ras Street Deira PO Box 2673 & 50481 Dubai

 

 

Country :

United Arab Emirates

 

 

Date of Incorporation :

27.03.1994

 

 

Com. Reg. No.:

64765, Dubai

 

 

Legal Form :

Limited Liability Company - LLC

 

 

Line of Business :

Ceased trading.

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Subject Ceased

Payment Behaviour :

--

Litigation :

--

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

UAE

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : HAMOOD AL WAEEL HOUSEHOLD APPLIANCES TRADING LLC

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Limited Liability Company - LLC

Registration Date                                   : 27th March 1994

Commercial Registration Number            : 64765, Dubai

Trade Licence Number                            : 233755

Chamber Membership Number                : 29972

Issued Capital                                        : UAE Dh 300,000

Paid up Capital                                      : UAE Dh 300,000

Activities                                               : Ceased trading.

Payments                                             : Nothing detrimental uncovered

Person Interviewed                                 : Hamood Ahmed Naji Al Waeel, Director

 

 

 

COMPANY NAME

 

HAMOOD AL WAEEL HOUSEHOLD APPLIANCES TRADING LLC

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : Al Mussabah Building

Street               : Al Ras Street

Area                 : Deira

 

PO Box             : 2673 & 50481

 

Town                 : Dubai

Country             : United Arab Emirates

 

Telephone         : (971-4) 2250422

Facsimile          : (971-4) 2640812 / 2269366

Mobile               : (971-50) 6528475

 

 

KEY PRINCIPALS

 

     Name                                                           Nationality                                 Position

 

·       Jitendra Chantilal Motwani                              Indian                                        Managing Director

 

·       Rajesh Jitendra Motwani                                Indian                                        Director

 

·       Hamood Ahmed Naji Al Waeel                       Emirati                                      Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 27th March 1994

 

Legal Form                  : Limited Liability Company - LLC

 

Commercial Reg. No.  : 64765, Dubai

 

Trade Licence No.       : 233755

 

Chamber Member No. : 29972

 

Issued Capital              : UAE Dh 300,000

 

Paid up Capital            : UAE Dh 300,000

 

Name of Shareholder (s)                                                         Percentage

 

·       Hamood Ahmed Naji Al Waeel                                               51%

 

·       Jitendra Chantilal Motwani                                                      25%

 

·       Rajesh Jitendra Motwani                                                        24%

 

 

OPERATIONS

 

Activities: Subject ceased trading on 25th March 2012. Prior to that it was engaged in the import and distribution of household appliances and kitchen equipment.

 

 

BANKERS

 

·       National Bank of Dubai

Baniyas Street

     PO Box: 777

     Dubai

     Tel: (971-4) 2222241

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Please note that Mr Hamood Ahmed Naji Al Waeel, Director, confirmed that the subject ceased trading on 25th March 2012.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.71

UK Pound

1

Rs.86.34

Euro

1

Rs.69.22

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.