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Report Date : |
02.08.2013 |
IDENTIFICATION DETAILS
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Name : |
WHITE CRESCENT
TRADING LLC |
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|
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Registered Office : |
Hamad Fadhal Alhamli
Building, Al Daghaya Street, Al Daghaya, 65102, Dubai |
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Country : |
United Arab
Emirates |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
07.05.2001 |
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Com. Reg. No.: |
63728, Dubai |
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Legal Form : |
Limited Liability
Company - LLC |
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Line of Business : |
Subject operates a general trade licence, and is engaged in the import
and distribution of general merchandise including crystal products, watches
and spare parts. |
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No. of Employees : |
7 |
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 |
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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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
UAE |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
UAE - 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 country 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. 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 :
WHITE CRESCENT TRADING LLC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
7th May 2001
Commercial Registration Number :
63728, Dubai
Trade Licence Number :
526197
Chamber Membership Number :
64037
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
7
Activities :
Subject operates a general trade licence
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
WHITE CRESCENT TRADING LLC
Building : Hamad Fadhal
Alhamli Building
Street : Al Daghaya
Street
Area : Al Daghaya
PO Box : 65102
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2351036
Facsimile : (971-4)
2351037
Mobile : (971-50)
3499037
Email : bsgoldcraft@gmail.com
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
Name Nationality Position
· Haji Mohamed Fazal
Mohamed Pakistani Managing
Director
· Mohamed Azam
Mohamed Iqbal Pakistani Director
· Sultan Hilal
Humaid Al Suwaidi Emirati Director
Date of
Establishment : 7th
May 2001
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 63728, Dubai
Trade Licence No. : 526197 (Expires 06/05/2014)
Chamber Member No. : 64037
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
· Sultan Hilal
Humaid Al Suwaidi 51%
· Haji Mohamed Fazal
Mohamed 25%
· Mohamed Azam
Mohamed Iqbal 24%
Activities: Subject operates a general trade licence, and is engaged in the import
and distribution of general
merchandise including crystal products, watches and spare parts.
Import Countries: Europe and India
Operating Trend: Steady
Subject has a workforce of 7 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 8,350,000 UAE Dh
8,800,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Arab Bank for Investment & Foreign Trade
PO Box: 5549
Dubai
Tel: (971-4)
2220151
Fax: (971-4)
2223431
No complaints regarding subject’s payments have been reported.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.74 |
|
|
1 |
Rs.92.05 |
|
Euro |
1 |
Rs.80.60 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
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.