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Report Date : |
19.05.2012 |
IDENTIFICATION DETAILS
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Name : |
NAZRANA TRADING LLC |
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|
|
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Registered Office : |
Ash Shurafaa
Store Building, Shop No. 4, Al Faheidi Street, Al Suq Al Kabir, P O Box 51321
& 32618, Dubai |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
22.09.1991 |
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Com. Reg. No.: |
44863, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesale and retail
of ladies readymade garments and textiles |
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No. of Employees : |
08 |
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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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company Name : NAZRANA TRADING LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 22nd September 1991
Commercial Registration Number : 44863,
Trade Licence Number : 225918
Chamber Membership Number : 22044
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 8
Activities : Wholesale and retail of ladies readymade garments and textiles
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Ashok Kumar Thakwani, Managing Director
NAZRANA TRADING LLC
Registered &
Physical Address
Building :
Street :
Area : Al Suq Al Kabir
PO Box : 51321 & 32618
Town :
Country :
Telephone : (971-4) 3538349
Facsimile : (971-4) 3355674 / 3533057 / 3530830
/ 3332342 / 3530839
Email : ashokkt@hotmail.com
/ sunder@emirates.net.ae / nazranatrading@hotmail.com
Premises
Subject operates from
a small suite of offices and a showroom that are rented and located in the
Central Business Area of Dubai.
Name Nationality Position
·
Ashok
Kumar Thakwani Indian Managing
Director
·
Raj
Kumar Thakwani Indian Director
·
Abbas
Namat Abbas Mohamed Al Farsi Emirati Director
·
Murali Dhar - Commercial
Manager
Date of Establishment : 22nd
September 1991
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 44863,
Trade Licence No. : 225918
Chamber Member No. : 22044
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Abbas
Namat Abbas Mohamed Al Farsi 51%
·
Raj
Kumar Thakwani 25%
·
Ashok
Kumar Thakwani 24%
·
Kerala
Silk House LLC
Ash Shorafa Store
Al Suq Al Kabir
PO Box: 32618 & 51321
Tel: (971-4) 3538349 / 3534041
Fax: (971-4) 3530830
Mob: (971-50)
6243146
Activities: Engaged in the wholesale and retail of
ladies readymade garments and textiles.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a
workforce of 8 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 9,250,000 UAE Dh 10,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr Ashok Kumar Thakwani, Managing Director
·
Middle
East Bank Ltd
PO Box: 5547
Tel: (971-4) 2220121
No complaints
regarding subject’s payments have been reported.
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency
Established in 1991,
subject is involved in the import and distribution of ladies readymade garments
and textiles.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.88 |
|
|
1 |
Rs.86.46 |
|
Euro |
1 |
Rs.69.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
|
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 |
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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.