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Report Date : |
15.09.2012 |
IDENTIFICATION DETAILS
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Name : |
HI CLASS TRADING
LLC |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
30.04.1998 |
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Com. Reg. No.: |
1025979, |
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Legal Form : |
Limited Liability
Company - LLC |
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Line of Business : |
Distributors of
readymade garments, textiles and footwear |
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No. of Employees : |
7 |
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 : HI CLASS TRADING LLC
Country of Origin :
Legal Form :
Limited Liability Company - LLC
Registration Date : 30th
April 1998
Commercial
Registration Number : 1025979,
Trade Licence
Number : 505292
Chamber Membership
Number : 49414
Issued Capital : UAE Dh
100,000
Paid up Capital : UAE Dh
100,000
Total Workforce : 7
Activities :
Distributors of readymade garments, textiles and footwear
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
HI CLASS TRADING
LLC
Building :
Area : Alsouq Alkabir
PO Box : 42919
Town :
Country :
Telephone : (971-4) 3537571 / 3535645
Facsimile : (971-4) 3531563
Email : tdh@emirates.net.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
·
Tawar
Das Hotwani Indian Managing Director
·
Ali
Butti Mohamed Butti Al Suwaidi Emirati Director
Date of Establishment : 30th
April 1998
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1025979,
Trade Licence No. : 505292
(Expires 29/04/2013)
Chamber Member No. : 49414
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
·
Ali
Butti Mohamed Butti Al Suwaidi 51%
·
Tawar
Das Hotwani 49%
Activities: Engaged in the import and distribution of
readymade garments, textiles and footwear.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a
workforce of 7 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 9,300,000 UAE Dh 10,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
PO Box: 1080
Tel: (971-4) 2953000
Fax: (971-4) 2954111
No complaints
regarding subject’s payments have been reported.
Local sources
report that subject meets its payments in a timely manner and is considered to
be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.72 |
|
|
1 |
Rs.88.60 |
|
Euro |
1 |
Rs.71.34 |
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 |
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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.