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Report Date : |
29.08.2013 |
IDENTIFICATION DETAILS
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Name : |
OKI GENERAL TRADING LLC |
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Registered Office : |
Dubai Pearl Building, 9th Floor, Office No. 902 Nasser
Square Deira PO Box 252150 Duba |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
05.03.2006 |
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Com. Reg. No.: |
79106, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and distribution of building materials, hardware, computer
equipment, drilling and earth moving machinery, general foodstuffs, medical
products, office equipment, tools and emergency equipment. |
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No. of Employees : |
25 |
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 : OKI GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 5th March 2006
Commercial Registration Number : 79106, Dubai
Trade Licence Number : 578464
Chamber Membership Number : 105226
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 25
Activities : Distributors of building materials, hardware, computer equipment, drilling and earth moving machinery, general foodstuffs, medical products, office equipment, tools and emergency equipment
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
OKI GENERAL TRADING LLC
Building : Dubai Pearl
Building, 9th Floor, Office No. 902
Street : Nasser
Square
Area : Deira
PO Box : 252150
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2349250
/ 2349211
Facsimile : (971-4)
2349251
Mobile : (971-50)
6327026
Email : sttsuae@eim.ae / okitrading@yahoo.com
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Dubai.
Name Nationality Position
· Anil Chandirani
Gopindram Chandir Indian Managing
Director
· Berkash Lal
Shandanee Indian Director
· Mohamed Abdullah
Ali Mardood Emirati Director
· Abhay Chopra - Chief
Executive Officer
· Saurabh Sood - Operations
Manager
Date of
Establishment : 5th
March 2006
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 79106, Dubai
Trade Licence No. : 578464
Chamber Member No. : 105226
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
· Mohamed Abdullah
Ali Mardood 51%
· Anil Chandirani
Gopindram Chandir 25%
· Berkash Lal
Shandanee 24%
Activities: Engaged in the import and distribution of building materials, hardware,
computer equipment, drilling and earth moving machinery, general foodstuffs,
medical products, office equipment, tools and emergency equipment.
Import Countries: Europe and the Far East
International
Clients:
· United
Nations Assistance Mission in Afghanistan (UNAMA)
·
United Nations
Mission in Sudan (UNMIS)
·
United Nations
Operation in Core de Ivoire (UNOCI)
·
United Nations
Mine Office in Sudan (UNMAO)
·
United Nations
Office for Project Services (UNOPS)
·
World Food
Programme
·
Amec Spie
·
Advanced
Engineering Associates International (AEAI)
·
Dyncorp
International
·
Hawk International
·
Contrack International
Subject has a workforce of 25 employees.
Companies registered in Dubai, 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
Deira Souk Branch
PO Box:
66
Dubai
Tel: (971-4) 2535000
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. 68.36 |
|
|
1 |
Rs. 106.03 |
|
Euro |
1 |
Rs. 91.47 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.