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Report Date : |
24.11.2012 |
IDENTIFICATION DETAILS
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Name : |
ROYAL STEP FOODSTUFF TRADING LLC |
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Registered Office : |
Deira, |
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Country : |
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Date of Incorporation : |
25.04.2012 |
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Com. Reg. No.: |
1094456, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Import and Distribution of General Foodstuffs and Beverages |
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No. of Employees : |
03 employees |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
-- |
NB |
New Business |
-- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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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) |
|
UAE |
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 :
ROYAL STEP FOODSTUFF TRADING LLC
Country of Origin :
Legal Form :
Limited Liability Company – LLC
Registration Date :
25th April 2012
Commercial Registration Number :
1094456,
Trade Licence Number : 669553
Chamber Membership Number :
204785
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
3
Activities :
Distributors of general foodstuffs and beverages
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
ROYAL STEP FOODSTUFF TRADING LLC
Location : Deira
PO Box : 81569
Town :
Country :
Telephone : (971-4) 3798710
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
Name Nationality Position
· Mohamed Saeed
Mohamed Shafeeq Pakistani Managing Director
· Eyaz Ahmed Azhar
Ahmed Pakistani Director
· Eftekhar Hamdan
Habib Sajwani Emirati Director
Date of
Establishment : 25th
April 2012
Legal Form : Limited Liability
Company – LLC
Commercial Reg.
No. : 1094456,
Trade Licence No. : 669553 (Expires 24/04/2013)
Chamber Member No. : 204785
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
· Eftekhar Hamdan
Habib Sajwani 51%
· Mohamed Saeed
Mohamed Shafeeq 25%
· Eyaz Ahmed Azhar
Ahmed 24%
Activities: Engaged in the import and distribution of general foodstuffs and
beverages.
Import Countries: Europe and the
Subject has a workforce of 3 employees.
Subject is a newly formed business and as a result financial information
is not currently available.
·
Standard Chartered Bank
PO Box: 999
Tel: (971-4)
2520455
No complaints regarding subject’s payments have been reported.
In view of subject’s infancy, extensive payment and financial are not
available, therefore dealings are recommended to be on secured terms, and a
close monitoring of subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.34 |
|
|
1 |
Rs.88.30 |
|
Euro |
1 |
Rs.71.37 |
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 |
|
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.