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Report Date : |
09.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
JALEEL GENERAL TRADING LLC |
|
|
|
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Registered Office : |
Al Aweer Fruit
& Vegetable Market, Block No. 4, Shop No. 35A, Emirates Street, Ras Al Khor Area, P O Box 3262, Dubai |
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|
|
|
Country : |
United Arab Emirates |
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|
|
|
Financials (as on) : |
31.12.2011 |
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|
|
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Date of Incorporation : |
13.08.1981 |
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Com. Reg. No.: |
60022, Dubai |
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|
|
|
Legal Form : |
Limited Liability Company |
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|
|
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Line of Business : |
Distributors of general foodstuff products |
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|
|
|
No. of Employees : |
36 employees |
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 |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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) |
|
United Arab
Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
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 Washington and in November 2004 agreed to undertake negotiations toward a Free Trade Agreement with the US, however, those talks have not moved forward. The country's Free Trade Zones - offering 100% foreign ownership and zero taxes - are helping to attract foreign investors. The global financial crisis, tight international credit, and deflated asset prices constricted the economy in 2009. UAE authorities tried to blunt the crisis by increasing spending and boosting liquidity in the banking sector. The crisis hit Dubai hardest, as it was heavily exposed to depressed real estate prices. Dubai lacked sufficient cash to meet its debt obligations, prompting global concern about its solvency. The UAE Central Bank and Abu Dhabi-based banks bought the largest shares. In December 2009 Dubai received an additional $10 billion loan from the emirate of Abu Dhabi. The economy is expected to continue a slow rebound. Dependence on oil, a large expatriate workforce, and growing inflation pressures are significant long-term challenges. The UAE''s strategic plan for the next few years focuses on diversification and creating more opportunities for nationals through improved education and increased private sector employment.
|
Source : CIA |
Company Name : JALEEL GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 13th August 1981
Commercial Registration Number : 60022, Dubai
Trade Licence Number : 209175
Chamber Membership Number : 8284
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Total Workforce : 36
Activities : Distributors of general foodstuff products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
JALEEL GENERAL
TRADING LLC
Registered &
Physical Address
Building : Al Aweer Fruit & Vegetable
Market, Block No. 4, Shop No. 35A
Street : Emirates Street
Area : Ras Al Khor Area
PO Box : 3262
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3339191 / 3391933 / 2727127
Facsimile : (971-4) 3331415 / 2726363
Email : jaleel@emirates.net.ae / shyamnn@jaleelfmcg.com
Premises
Subject operates
from a medium sized suite of offices and a showroom that are rented and located
in the Industrial Area of Dubai.
Branch Offices
Location Description
·
Mussafah
Industrial Area Office
premises
Abu Dhabi
Tel: (971-4) 5503896
·
Sharjah Office
premises
Tel: (971-6) 5585899
·
Ajman Office
premises
Tel: (971-6) 7481178
Name Nationality Position
·
Sameer
Kunhu Mohamed Indian Managing
Director
·
Abdul
Gafoor Kunhu Mohamed Indian Director
·
Essa
Mohamed Saleh Abdulrahman Al Rais Emirati Director
·
Ahmed Kabeer - Commercial
Manager
·
Satish
Kumar - Sales
Manager
·
Manish
K Thayal - Finance
Manager
·
Jolly
Aldo - Financial
Controller
Date of Establishment : 13th
August 1981
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 60022, Dubai
Trade Licence No. : 209175 (Expires
07/08/2013)
Chamber Member No. : 8284
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Name of Shareholder
(s) Percentage
·
Essa
Mohamed Saleh Abdulrahman Al Rais 51%
·
Sameer
Kunhu Mohamed 25%
·
Abdul
Gafoor Kunhu Mohamed 24%
·
Jaleel
Traders LLC
·
Sameer
& Zakir Trading LLC
·
Obaid
& Sameer Trading LLC
·
Catalyst
Systems & Solutions
·
J Mart
Supermarket
·
Al
Jaleeb Trading Company
·
Ezee
Wrap LLC
Activities: Engaged in the import and distribution of
general foodstuff products.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 36 employees.
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales UAE Dh
16,835,000 UAE Dh
17,250,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Abu
Dhabi Commercial Bank
Al Rigga Road
PO Box: 5550
Dubai
Tel: (971-4) 2958888 / 3228141
Fax: (971-4) 2959310 / 3279632
No complaints
regarding subject’s payments have been reported.
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
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.52.21 |
|
UK Pound |
1 |
Rs.84.00 |
|
Euro |
1 |
Rs.67.75 |
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 |
|
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.