|
Report Date : |
03.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
AL MISK TRADING
AND TAILORS LLC |
|
|
|
|
Registered Office : |
Cosmos Lane, Meena Bazaar, Bur Dubai, PO Box 46972,
Dubai |
|
|
|
|
Country : |
United Arab
Emirates |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
14.11.1981 |
|
|
|
|
Com. Reg. No.: |
1048102 |
|
|
|
|
Legal Form : |
Limited Liability
Company |
|
|
|
|
Line of Business : |
Providers of
tailoring and embroidery services |
|
|
|
|
No. of Employees : |
12 |
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 |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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 : AL MISK TRADING AND
TAILORS LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 14th
November 1981
Commercial
Registration Number : 1048102,
Dubai
Trade Licence
Number : 102857
Chamber Membership
Number : 176338
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 12
Activities :
Providers of tailoring and embroidery services
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
AL MISK TRADING AND
TAILORS LLC
Registered & Physical Address
Street : Cosmos Lane
Area : Meena Bazaar, Bur Dubai
PO Box : 46972
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3525109 / 3598570
Facsimile : (971-4) 3536787
Premises
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Dubai.
Name Nationality Position
Prejlal Vashudev
Bhagachandani Indian Managing
Director
Priyanka
Bhagachandani Indian Director
Mohamed Maaghsad
Obaid Ali Emirati Director
Date of
Establishment : 14th November 1981
Legal Form : Limited Liability Company - LLC
Commercial Reg.
No. : 1048102, Dubai
Trade Licence
No. : 102857 (Expires 06/11/2013)
Chamber Member
No. : 176338
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
Mohamed Maaghsad
Obaid Ali 51%
Prejlal Vashudev
Bhagachandani 25%
Priyanka
Bhagachandani 24%
Activities: Engaged in the provision of tailoring and
embroidery services for ladies wear and textiles.
Operating Trend: Steady
Subject has a
workforce of 12 employees.
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year Ending 31/12/10: Year Ending 31/12/11:
Total Sales UAE Dh
10,400,000 UAE Dh
10,925,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
Middle East Bank
Ltd
Arbift Tower
Baniyas Street
PO Box: 5547
Dubai
Tel: (971-4)
2220121
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.54.39 |
|
UK Pound |
1 |
Rs.88.76 |
|
Euro |
1 |
Rs.72.19 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.