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Report Date : |
24.09.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
NAJMAT |
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Registered Office : |
Ras Al Khor
Industrial Area No.3, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
25.08.2009 |
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Com. Reg. No.: |
1048006, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of canned and preserved foods, beverages, fruit and vegetables |
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No. of Employees : |
04 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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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 :
NAJMAT
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 25th August 2009
Commercial Registration Number : 1048006,
Trade Licence Number : 628561
Chamber Membership Number : 176549
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 4
Activities : Distributors of canned and preserved foods, beverages, fruit and
vegetables
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
NAJMAT
Registered &
Physical Address
Location : Ras Al Khor Industrial Area No.3
PO Box : 63018
Town :
Country :
Telephone : (971-4) 3207501
Facsimile : (971-4) 3207502
Email : najmatalmanal786@yahoo.com
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Industrial Area of Dubai.
Name Nationality Position
·
Shamsuddin
Abdul Subhan Indian Managing
Director
·
Adnan
Abdul Rahman Aqil Al Khaja Emirati Director
Date of Establishment : 25th
August 2009
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1048006,
Trade Licence No. : 628561
Chamber Member No. : 176549
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Adnan
Abdul Rahman Aqil Al Khaja 51%
·
Shamsuddin
Abdul Subhan 49%
Activities: Engaged in the import and distribution of
canned and preserved foods, beverages, fruit and vegetables.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a workforce
of 4 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 7,600,000 UAE Dh 8,350,000
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.
According to local
sources, subject meets its payment obligations in a timely manner and the
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.91 |
|
|
1 |
Rs.87.60 |
|
Euro |
1 |
Rs.70.01 |
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 |
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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 |
|
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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.