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Report Date : |
17.11.2012 |
IDENTIFICATION DETAILS
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Name : |
S S A
GENERAL TRADING LLC |
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Registered Office : |
210 HH |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
28.06.2007 |
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Com. Reg. No.: |
1012014,
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Legal Form : |
Limited Liability
Company - LLC |
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Line of Business : |
Import and
distribution of timber and wood. |
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No. of Employees : |
8 |
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 |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
United Arab Emirates - ECONOMIC OVERVIEW
The UAE has an open economy with a high per capita income
and a sizable annual trade surplus. Successful efforts at economic
diversification have reduced the portion of GDP based on oil and gas output to
25%. Since the discovery of oil in the UAE more than 30 years ago, the UAE has
undergone a profound transformation from an impoverished region of small desert
principalities to a modern state with a high standard of living. The government
has increased spending on job creation and infrastructure expansion and is
opening up utilities to greater private sector involvement. In April 2004, the
UAE signed a Trade and Investment Framework Agreement with
|
Source : CIA |
Company Name : S S A GENERAL TRADING LLC
Country of Origin :
Legal Form :
Limited Liability Company - LLC
Registration Date : 28th
June 2007
Commercial
Registration Number : 1012014,
Trade Licence
Number : 596968
Chamber Membership
Number : 120621
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 8
Activities :
Import and distribution of timber and wood.
Financial Condition : Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mr Arvind Kumar Jain, Managing Director
S S A
GENERAL TRADING LLC
Building : 210 HH Sheikha Mariam Building, 2nd
Floor
Street :
Area : Deira
PO Box : 118123
& 114931
Town :
Country :
Telephone : (971-4) 2347123 / 2340226 / 2281368
Facsimile : (971-4) 2347124 / 2340227
Email : info@ssadubai.com
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Dubai.
Name Nationality Position
·
Arvind Kumar Jain Indian Managing
Director
·
Abdul Amir Shamsi Emirati Director
·
Deepan Shu Kumar Jain - General
Manager
Date of Establishment : 28th
June 2007
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1012014,
Trade Licence No. : 596968 (Expires 27/06/2013)
Chamber Member No. : 120621
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Abdul Amir Shamsi 51%
·
Arvind Kumar Jain 49%
·
Sharda
Technology LLC
PO Box: 114931
Tel: (971-4) 2281368
Activities: Engaged in the import and distribution of
timber, electronic equipment and general foodstuff items.
Import
Countries:
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
741,000,000 UAE Dh
745,700,000
Local sources
consider subject’s financial condition to be Good.
The above financial
figures are based on estimations by our local sources.
·
Habib
Bank AG
PO Box: 3306
Tel: (971-4) 2214535
·
Standard
Chartered Bank
PO Box: 999
Tel: (971-4) 2520455
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.54.99 |
|
|
1 |
Rs.87.21 |
|
Euro |
1 |
Rs.70.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.