|
Report Date : |
22.05.2012 |
,
IDENTIFICATION DETAILS
|
Name : |
RELIANCE BEDDING INDUSTRY LLC |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
26.09.2007 |
|
|
|
|
Com. Reg. No.: |
1016763, |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturers of sprung mattresses and mattress components |
|
|
|
|
No. of Employees : |
53 |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company Name : RELIANCE BEDDING INDUSTRY LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 26th September 2007
Commercial Registration Number : 1016763,
Trade Licence Number : 601010
Chamber Membership Number : 124245
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 53
Activities : Manufacturers of sprung mattresses and mattress components.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Vivesk Sheel Handa, Managing Director
RELIANCE BEDDING
INDUSTRY LLC
Registered & Physical
Address
Location :
PO Box : 44459
Town :
Country :
Telephone : (971-4) 8856976
Facsimile : (971-4) 8856634
Email : rbidxb@eim.ae
Please note that
subject’s previous address was, Jebel Ali Free Zone,
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area Dubai.
Name Nationality Position
·
Vivesk
Sheel Handa Indian Managing
Director
·
Samir
Jawhar Lal Indian Director
·
Maryam
Abdullah Emirati Director
·
Ishwar
Vaid - General
Manager
·
Neem
Alam - Production
Manager
Date of Establishment : 26th
September 2007
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1016763,
Trade Licence No. : 601010
(Expires 27/09/2012)
Chamber Member No. : 124245
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Maryam
Abdullah 51%
·
Vivesk
Sheel Handa 25%
·
Samir
Jawhar Lal 24%
·
Al
Muqadimah Trading LLC
PO Box: 28582
Sharjah
Tel: (971-6) 5346562
Fax: (971-6) 5346568
Activities: Engaged in the manufacture of sprung
mattresses and mattress components, specialising in Bonnel
springs, M-springs and
M-Corners, as well as printed mattress ticking , TC fabrics, Jacquard fabrics,
polypropylene spun bonded non
-woven fabrics, mattress tape, polyester mattress tape and trim foam.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a
workforce of 53 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
13,600,000 UAE Dh
15,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Vivesk Sheel Handa, Managing Director
·
National
Bank of
PO Box: 777
Tel: (971-4) 2222241
No complaints regarding
subject’s payments have been reported.
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 and
the above credit figure is considered to be within subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.68 |
|
|
1 |
Rs.86.52 |
|
Euro |
1 |
Rs.69.86 |
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 |
|
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.