|
Report Date : |
04.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
BRAMPTON GARMENTS
TRADING LLC |
|
|
|
|
Registered Office : |
New Industrial
Area, 5341 Ajman |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Date of Incorporation : |
1995 |
|
|
|
|
Legal Form : |
Limited Liability
Company - LLC |
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|
|
|
Line of Business : |
Retailers of readymade garments, cloth and textiles for ladies, gents and children. |
|
|
|
|
No. of Employees : |
4 |
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 |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 : BRAMPTON GARMENTS
TRADING LLC
Country of Origin : Ajman, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 1995
Trade Licence Number :
36106
Chamber Membership
Number : 33031
Issued Capital : UAE Dh
150,000
Paid up Capital : UAE Dh
150,000
Total Workforce : 4
Activities :
Retailers of readymade garments, cloth and textiles
for ladies, gents and children.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
BRAMPTON GARMENTS
TRADING LLC
Location : New Industrial Area
PO Box : 5341
Town : Ajman
Country : United Arab Emirates
Telephone : (971-6) 7482670 / 7482645
Facsimile : (971-6) 7482671
/ 7439053
Email : brampton@eim.ae
Subject operates
from a small suite of offices, a warehouse and a showroom that are rented and
located in the Industrial Area of Ajman.
Name Nationality Position
·
Devan Muriledar Indian Managing
Director
·
Khalid Moustafa Emirati Director
·
M Venod - Sales
Manager
Date of Establishment : 1995
Legal Form :
Limited Liability Company -
LLC
Trade Licence No. : 36106 (Expired 12/05/2012)
Chamber Member No. : 33031
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
·
Khalid Moustafa 51%
·
Devan Muriledar 49%
Activities: Engaged as
retailers of readymade garments, cloth and textiles for ladies, gents and
children.
Import
Countries: Pakistan, China
and India.
Subject has a
workforce of 4 employees.
Companies
registered in Ajman, United Arab Emirates are not
legally required to make their accounts public and no financial information was
released by the company or submitted by outside sources.
·
HSBC
Bank Middle East
Main Branch
Ajman
Tel: (971-6) 5537222
Fax: (971-6) 5537880
·
Abu
Dhabi Commercial Bank
Karame
PO Box: 1843
Ajman
Tel: (971-6) 7443444
No complaints
regarding subject’s payments have been reported.
Please note that subject’s
trade licence number expired on 12th May
2012 and has not been renewed. We were unable to contact the subject directly
during our investigation.
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.55.45 |
|
|
1 |
Rs.87.98 |
|
Euro |
1 |
Rs.69.69 |
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.