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Report Date : |
19.11.2012 |
IDENTIFICATION DETAILS
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Name : |
FREEDOM STAR
TRADING CO LLC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
09.01.1997 |
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Com. Reg. No.: |
48345, |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Distributors of
general foodstuffs and beverages |
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No. of Employees : |
8 |
RATING & COMMENTS
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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 |
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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 |
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 : FREEDOM STAR TRADING
CO LLC
Country of Origin :
Legal Form :
Limited Liability Company – LLC
Registration Date : 9th
January 1997
Commercial
Registration Number : 48345,
Trade Licence
Number : 244911
Chamber Membership
Number : 41962
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 8
Activities :
Distributors of general foodstuffs and beverages.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
FREEDOM STAR
TRADING CO LLC
Street :
Area :
Al Ras
PO Box : 33237
Town :
Country :
Telephone : (971-4) 2291765 / 2290881
Facsimile : (971-4) 2291356 / 2290871
Email : fredstar@emirates.net.ae
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
·
Mohamed
Reza Esfandyar Khademi Iranian Managing Director
·
Abbas
Mohamed Javad Abu Qedarah Iranian Director
·
Bahnam
Aziz Abu Qedarah Iranian Director
·
Mohamed
Hussain Esfandyar Iranian Director
·
Abbas
Mohamed Rustam Al Balooshi Emirati Director
Date of Establishment: 9th January 1997
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 48345,
Trade Licence No. : 244911
(Expires 08/01/2013)
Chamber Member No.: 41962
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Abbas
Mohamed Rustam Al Balooshi 51%
·
Mohamed
Reza Esfandyar Khademi 13%
·
Abbas
Mohamed Javad Abu Qedarah 12%
·
Bahnam
Aziz Abu Qedarah 12%
·
Mohamed
Hussain Esfandyar 12%
Activities: Engaged in the import and distribution of
general foodstuffs and beverages.
Import
Countries: Europe and the
Subject has a
workforce of 8 employees.
Companies
registered in
·
HSBC
Bank
Deira Souk Branch
PO Box: 66
Tel: (971-4) 2535000
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.