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Report Date : |
15.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
CENTEX INTERNATIONAL TRADING LLC |
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|
|
|
Registered Office : |
Al Fardan Building,
Ground Floor, Shop No. 6, Juma Masjid Road, Textile Market, Bur Dubai, P O
Box 966, Dubai |
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|
|
|
Country : |
United Arab Emirates |
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|
|
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Financials (as on) : |
31.12.2012 |
|
|
|
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Date of Incorporation : |
11.03.1979 |
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|
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Com. Reg. No.: |
52130, Dubai |
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|
|
Legal Form : |
Limited Liability Company |
|
|
|
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Line of Business : |
importer and
distributor of textiles and readymade garments. |
|
|
|
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No. of Employees : |
15 |
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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 |
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 : CENTEX INTERNATIONAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 11th March 1979
Commercial Registration Number : 52130, Dubai
Trade Licence Number : 203822
Chamber Membership Number : 5323
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Total Workforce : 15
Activities : Distributors of textiles and readymade garments
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Abdul Majeed, Financial Controller
CENTEX
INTERNATIONAL TRADING LLC
Registered &
Physical Address
Building : Al Fardan Building, Ground Floor,
Shop No. 6
Street : Juma Masjid Road
Area : Textile Market, Bur Dubai
PO Box : 966
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3536874 / 3535265
Facsimile : (971-4) 3532364 / 2223284
Mobile : (971-50) 6751815 / 8403265
Email : centex@emirates.net.ae
Premises
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Dubai.
Name Nationality Position
·
Pallikere
Abdullah Ibrahim Indian Managing Director
·
Mohamed
Hussain Mohamed Ali Mohamed Al Shamali Emirati Director
·
Abdul
Raouf Mahin - Sales
Manager
·
Abdul
Majeed - Financial
Controller
Date of Establishment : 11th
March 1979
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 52130, Dubai
Trade Licence No. : 203822
(Expires 13/02/2014)
Chamber Member No. : 5323
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Name of Shareholder
(s) Percentage
·
Mohamed
Hussain Mohamed Ali Mohamed Al Shamali 51%
·
Pallikere
Abdullah Ibrahim 49%
·
Al
Mayyad Auto Parts LLC
PO Box: 5387
Dubai
Tel: (971-4) 2215035
·
Indus
Auto Parts LLC
PO Box: 5387
Dubai
Tel: (971-4) 2215035
·
Imperial
Auto Spare Parts LLC
PO Box: 5387
Dubai
Tel: (971-4) 2215035
·
Century
Auto Spare Parts
PO Box: 4669
Dubai
Tel: (971-4) 2215035
·
Grand
Auto Spare Parts LLC
PO Box: 5387
Dubai
Tel: (971-4) 2215035
·
Century
Trading LLC
Dubai
Tel: (971-4) 3536323
Activities: Engaged in the import and distribution of
textiles and readymade garments.
Import
Countries: India, Thailand
and Japan.
International Suppliers:
·
Dinesh
Suiting India
·
Lucky
Tex Thailand
·
Hisofy Japan
Operating Trend: Steady
Subject has a
workforce of 15 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 Revenue UAE Dh 6,050,000 UAE Dh 6,546,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Abdul Majeed, Financial Controller
·
HSBC
Bank Middle East
Deira Souk Branch
PO Box: 66
Dubai
Tel: (971-4) 2535000
·
National
Bank of Umm Al Quwain
PO Box: 9175
Dubai
Tel: (971-4) 7655440
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.59.89 |
|
UK Pound |
1 |
Rs.90.88 |
|
Euro |
1 |
Rs.78.32 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.