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Report Date : |
17.01.2013 |
IDENTIFICATION DETAILS
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Name : |
GLOBAL FOOD GENERAL TRADING LLC |
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Registered Office : |
Al Zarooni Building, Shop No. 1, Ground Floor, Al Ras, Deira, PO Box
32034, DubaI |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
19.01.2008 |
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Com. Reg. No.: |
1022139, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Engaged in the wholesale and retail of general foodstuffs and
beverages, including biscuits and snacks. |
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No. of Employees : |
13 |
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 – June 30th,
2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
UAE |
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 :
GLOBAL FOOD GENERAL TRADING LLC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
19th January 2008
Commercial Registration Number :
1022139, Dubai
Trade Licence Number :
605434
Chamber Membership Number :
128247
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
13
Activities :
Wholesale and retail of general foodstuffs and beverages
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Dianand Godnani Tchmadas, Director
GLOBAL FOOD GENERAL TRADING LLC
Building : Al Zarooni
Building, Shop No. 1, Ground Floor
Area : Al Ras,
Deira
PO Box : 32034
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2356150
/ 2356151 / 3536113
Facsimile : (971-4)
2356152 / 3537900
Mobile : (971-50)
4965112
Email : globalfg@emirates.net.ae / gfgtdubai@gmail.com
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Dubai.
Branch Offices
Location Description
· Al Ras, Deira Office
premises
Dubai
Tel:
(971-4) 2202654
Fax:
(971-4) 2202653
Name Nationality Position
· Rajesh Naryandas
Pagarani Indian Managing Director
· Dianand Godnani
Tchmadas Indian Director
· Ali Rashed Hamed Emirati Director
Date of
Establishment : 19th
January 2008
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 1022139, Dubai
Trade Licence No. : 605434 (Expires 16/01/2013)
Chamber Member No. : 128247
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
· Ali Rashed Hamed 51%
· Rajesh Naryandas
Pagarani ]
] 49%
· Dianand Godnani
Tchmadas ]
· Global Energy Food
Industries Ltd
India
Activities: Engaged in the wholesale and retail of general foodstuffs and
beverages, including biscuits and snacks.
Import Countries: India and Europe
Subject has a workforce of 13 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.
·
National Bank of Ras Al Khaimah
Al Maktoum Street
PO Box: 1531
Dubai
Tel: (971-4) 2226291
Fax: (971-4) 2281312
Acc No.
0025214512061
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.54.82 |
|
UK Pound |
1 |
Rs.87.99 |
|
Euro |
1 |
Rs.72.82 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.