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Report Date : |
29.11.2012 |
IDENTIFICATION DETAILS
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Name : |
PAMCHAL FOODSTUFF TRADING LLC |
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Registered Office : |
Ayesha Abdullah Building, Ground Floor, Shop No. 1, Al Ras, Deira, P O
Box 86552, Dubai |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
07.05.2007 |
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Com. Reg. No.: |
1009454, |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Engaged in the wholesale and retail of general foodstuffs and
beverages |
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No. of Employees : |
5 Employees |
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
|
Country Name |
Previous Rating (31.03.2012) |
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 :
PAMCHAL FOODSTUFF TRADING LLC
Country of Origin :
Legal Form : Limited
Liability Company - LLC
Registration Date :
7th May 2007
Commercial Registration Number :
1009454,
Trade Licence Number :
594909
Chamber Membership Number :
118735
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
5
Activities :
Wholesale and retail of general foodstuffs and beverages
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
PAMCHAL FOODSTUFF TRADING LLC
Building :
Area : Al Ras,
Deira
PO Box : 86552
Town :
Country :
Telephone : (971-4) 2352161
Facsimile : (971-4)
2352162
Email : pamchal@eim.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
· Hossein Hamzeh Ali
Cholmaghani Iranian Managing
Director
· Twakol Mokhtar
Ferh Dagi Iranian Director
· Hassan Ali Azizi
Brogny Iranian Director
· Khadeja Mosa
Abdullah Alshmaly Emirati Director
Date of
Establishment : 7th May
2007
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 1009454,
Trade Licence No. : 594909 (Expires 05/05/2013)
Chamber Member No. : 118735
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
· Khadeja Mosa
Abdullah Alshmaly 51%
· Hossein Hamzeh Ali
Cholmaghani 20%
· Twakol Mokhtar
Ferh Dagi 15%
· Hassan Ali Azizi
Brogny 14%
Activities: Engaged in the wholesale and retail of general foodstuffs and
beverages.
Import Countries: Europe and the
Operating Trend: Steady
Subject has a workforce of 5 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 7,550,000 UAE Dh
8,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Citibank
Deira
PO Box: 749
Tel: (971-4) 5074121
Fax: (971-4) 2238922
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.55.70 |
|
|
1 |
Rs.89.34 |
|
Euro |
1 |
Rs.72.35 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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 |
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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.