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Report Date : |
28.11.2012 |
IDENTIFICATION DETAILS
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Name : |
SKYLIGHT ELECTRIC WARE TRADING LLC |
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Registered Office : |
Al |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
12.02.2007 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of electrical equipment |
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No. of Employees : |
8 |
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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 |
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 :
SKYLIGHT ELECTRIC WARE TRADING LLC
Country of Origin :
Legal Form :
Limited Liability Company - LLC
Registration Date :
12th February 2007
Trade Licence Number :
548968
Chamber Membership Number :
76791
Issued Capital :
UAE Dh 150,000
Paid up Capital :
UAE Dh 150,000
Total Workforce :
8
Activities :
Distributors of electrical equipment
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
SKYLIGHT ELECTRIC WARE TRADING LLC
Registered &
Physical Address
Building : Al
Street : Jamal
PO Box : 207 &
80255
Town : Sharjah
Country :
Telephone : (971-6) 55989948
Facsimile : (971-6) 55989949
Email : sklight@eim.ae
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Sharjah.
Name Nationality Position
Rajendar Vasumal Adwani Indian Managing Director
Saleh Salem Obaid Emirati Director
S K Sharma - General
Manager
Raju Jain - Sales
Manager
Parvin Chako - Accountant
Date of Establishment : 12th
February 2007
Legal Form : Limited Liability
Company - LLC
Trade Licence No. : 548968 (Expires
10/02/2013)
Chamber Member No. : 76791
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of
Shareholder (s) Percentage
Saleh Salem Obaid 51%
Rajendar Vasumal Adwani 49%
Activities: Engaged in the import and distribution of electrical equipment,
including cable glands, PVC wires, low
and high voltage cables, armoured cable and related accessories.
Import Countries: Europe and the
International Suppliers:
Raychem
CMP Cable Gland
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 8,760,000 UAE Dh
9,100,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
National Bank of Sharjah
PO Box: 4
Sharjah
Tel: (971-6) 5547747
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.70 |
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|
1 |
Rs.89.34 |
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Euro |
1 |
Rs.72.35 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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.