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Report Date : |
16.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
DHALUMAL
INTERNATIONAL TRADING LLC |
|
|
|
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Registered Office : |
Al Zarooni
Building, 7th Floor, Office No. 702, Creek Road, Deira 38, Dubai |
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|
|
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Country : |
United Arab Emirates |
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|
|
|
Financials (as on) : |
31.12.2012 |
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|
|
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Date of Incorporation : |
22.08.1976 |
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|
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Com. Reg. No.: |
41826, Dubai |
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|
|
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Legal Form : |
Limited Liability
Company - LLC |
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|
|
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Line of Business : |
Subject’s operations
are performed through the following divisions ·
Electronics Division ·
Hardware Division ·
Dhalumal Timber Division ·
Textile Division |
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|
|
|
No. of Employees : |
112 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
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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) |
|
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 : DHALUMAL
INTERNATIONAL TRADING LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 22nd
August 1976
Commercial
Registration Number : 41826,
Dubai
Trade Licence
Number : 203481
Chamber Membership
Number : 2480
Issued Capital : UAE Dh
3,000,000
Paid up Capital : UAE Dh
3,000,000
Total Workforce : 112
Activities :
Subject operates several divisions (see below for details)
Financial Condition : Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Takkur
Fatnani, General Manager
DHALUMAL
INTERNATIONAL TRADING LLC
Building : Al Zarooni Building, 7th
Floor, Office No. 702
Street : Creek Road
Area : Deira
PO Box : 38
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2263635 / 2267772
Facsimile : (971-4) 2266198 / 2253985
Mobile : (971-50) 6469050 / 6944909
Email : dhalumal@emirates.net.ae
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Branch Offices
Location Description
·
Shorafa
Building, Ground Floor Office
premises
Juma Masjid Road
Bur Dubai
Dubai
Tel: (971-4) 3530374
Fax: (971-4) 3538303
·
Fekhri
Market Office
premises
Murshid Bazaar
Deira
Dubai
Tel: (971-4) 2264880
Fax: (971-4) 2252070
·
Deira Office
premises
Dubai
Tel: (971-4) 2242266
·
Al Awir Storage
facilities
Dubai
Name Nationality Position
·
Gopal
Dhalumal Shroff Indian Managing Director
·
Pavan
Gopal Shroff Indian Director
·
Abdul
Salam Ibrahim Mohamed Hussain Emirati Director
·
Takkur
Fatnani - General
Manager
·
Bhagwan
Manwani - Commercial
Manager
·
Mostafa
Rahi - Finance
Manager
·
Harish
Tilokani - Sales
Manager – Textiles Division
·
Rajesh
Bajaj - Sales
Manager – Electronics Division
Date of Establishment : 22nd
August 1976
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 41826, Dubai
Trade Licence No. : 203481
(Expires 07/04/2016)
Chamber Member No. : 2480
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
·
Abdul
Salam Ibrahim Mohamed Hussain 51%
·
Gopal
Dhalumal Shroff 25%
·
Pavan
Gopal Shrouf 24%
·
Dhamulal Trading Co LLC
Dubai
·
Dhamulal Gold DMCC
Dubai
·
Dhalumal
Jethanand Trading LLC
Dubai
Tel: (971-4) 2265290
Fax: (971-4) 2251336
·
Dhalumal
Exchange (Al Mussabah Exchange)
Dubai
Tel: (971-4) 3535809
Fax: (971-4) 3531597
·
Dhalumal
Jewellery
Dubai
Tel: (971-4) 2267772
Fax: (971-4) 2266198
·
Dhalumal
Electronics
Moscow
Russia
Tel: (7095) 1089724
Fax: (7095) 1089724
·
DJS
Sarl
Abidjan
Ivory Coast
Tel: (225) 21247560
Fax: (225) 21247421
·
Shine
Trading LLC (Gifts & Novelties)
Dubai
Tel: (971-4) 2258748
Fax: (971-4) 2255348
·
Edris
Al Awazi Trading Establishment
Dubai
Tel: (971-4) 2265256
Fax: (971-4) 2266198
Activities: Subject’s operations are performed through
the following divisions:
·
Textile
Division
Wholesalers and retailers of textiles
and fabrics.
·
Electronics
Division
Wholesalers
and retailers of electronic and electrical products. is the sole distributor
of Technikka brand of consumer
electronics and also deals in various other brands such as Sony, Panasonic,
National , Sharp, Sanyo, Hitachi, Aiwa, Samsung, LG, Pioneer, Yamaha, Moulinex,
Braun and Philips.
·
Hardware
Division
Distributors of hardware products and equipment.
·
Dhalumal
Timber Division
Deals in all kinds of timber products such as Burma teak, Romanian white
wood, Chilean white wood, Canadian white wood, door flush doors, African
mahogany and African teak (Iroko), commercial and WBP plywood, hard boards and
block boards, red meranti and red wood, American hardwood such as red oak,
white oak, cherry, walnut, ash, soft and hard maple.
Import
Countries: Burma, Romania,
Malaysia, Chile, Canada and Africa.
Operating Trend: Steady
Subject has a
workforce of approximately 112 employees.
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/11: Year Ending
31/12/12:
Total Sales UAE Dh
205,000,000 UAE Dh
201,500,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Takkur Fatnani, General Manager
·
Commercial
Bank of Dubai
Baniyas Street
Deira
PO Box: 1709
Dubai
Tel: (971-4) 2227121 / 2253222
Fax: (971-4) 2220943 / 2254565
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.54.62 |
|
|
1 |
Rs.83.69 |
|
Euro |
1 |
Rs.71.41 |
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.