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Report Date : |
23.05.2012 |
IDENTIFICATION DETAILS
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Name : |
TOSKA GENERAL TRADING LLC |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
21.12.2006 |
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Com. Reg. No.: |
1003276, |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and distribution of chemicals and raw materials. |
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No. of Employees : |
12 |
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) |
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UAE |
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 : TOSKA GENERAL TRADING LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 21st December 2006
Commercial Registration Number :
1003276,
Trade Licence Number : 589499
Chamber Membership Number : 113954
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Total Workforce : 12
Activities : Import and distribution of chemicals and raw materials.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Babu M Vachri, Commercial Manager
TOSKA GENERAL TRADING LLC
Building :
Street :
Area : Deira
PO Box : 184465
Town :
Country :
Telephone : (971-4) 2959863
Facsimile : (971-4)
2980894
Email : toskagt@emirates.net.ae
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
Name Nationality Position
· Parviz Moghadasi Iranian Managing
Director
· Ahmed Al Hashimi Emirati Director
· Babu M Vachri - Commercial
Manager
· Babu Sandana - Finance
Manager
· Rahi Mahmoud - Administration
Manager
Date of Establishment : 21st December 2006
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 1003276,
Trade Licence No. : 589499 (Expires 21/12/2012)
Chamber Member No. : 113954
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
· Ahmed Al Hashimi 51%
· Parviz Moghadasi 49%
Activities: Engaged in the import and distribution of chemicals and raw
materials.
Import Countries:
Operating Trend: Steady
Subject has a workforce of 12 employees.
Financial highlights provided by local sources are given below:
Currency:
Balance Sheet 31/12/10 31/12/09
Assets
Non-current assets
Vehicles and equipment 111,444 61,417
Current assets
Other receivables and prepayments 31,164,745 30,890,930
Due from related party - 7,813,152
Bank balances and cash 22,184,831 52,030,099
53,349,576 90,734181
Total assets 53,461,020 90,795,598
Equity and Liabilities
Equity
Share capital 3,000,000 3,000,000
Statutory reserve 1,051,613 560,185
Retained earnings 5,378,169 5,041,658
Total equity 9,429,782 8,601,843
Liabilities
Non-current liabilities
Employee’s end of service benefits 34,267 18,383
Current liabilities
Due to customers 43,938,971 82,124,152
Accrued expenses 58,000 51,220
43,996,971 82,175,372
Total liabilities 44,031,238 82,193,755
Total equity and liabilities 53,461,020 90,795,598
Statement of Income
Rendering of services 6,183,081 5,092,247
General and administrative expenses (1,219,595) (963,218)
Depreciation (49,208) (42,641)
Profit for the year 4,914,278 4,086,388
Local sources consider subject’s financial condition to be Good.
·
Bank Melli
Deira Branch
PO Box: 1894
Tel: (971-4) 2268207
Fax: (971-4) 2269157 / 2267096
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.88 |
|
|
1 |
Rs.86.84 |
|
Euro |
1 |
Rs.70.21 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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 |
-- |
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.