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Report Date : |
18.07.2013 |
IDENTIFICATION DETAILS
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Name : |
KAPADIA TRADING CO LLC |
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Registered Office : |
Al Maktoum
Street, Rigga Al Bateen, P O Box 62364, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
20.01.1998 |
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Com. Reg. No.: |
51869, Dubai |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
import and distribution of fuels, basic industrial
chemicals, petrochemicals and related raw materials |
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No. of Employees : |
18 |
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) |
|
United Arab
Emirates |
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 : KAPADIA TRADING CO LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company – LLC
Registration Date : 20th January 1998
Commercial Registration Number : 51869, Dubai
Trade Licence Number : 503516
Chamber Membership Number : 47854
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 18
Activities : Distributors of fuels, basic industrial chemicals, petrochemicals and
related raw materials
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Operating Trend : Steady
KAPADIA TRADING CO
LLC
Registered &
Physical Address
Street : Al Maktoum Street
Area : Rigga Al Bateen
PO Box : 62364
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2224486
Facsimile : (971-4) 2224496
Email : atc@alrahim.com / info@kapadiatrading.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Mohamed
Anas Kapadia Pakistani Managing
Director
·
Haroon
Haji Habib Haji Habib Pakistani Director
·
Essa
Obaid Khalfan Al Radha Emirati Director
Date of Establishment : 20th
January 1998
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 51869, Dubai
Trade Licence No. : 503516
(Expires 19/01/2014)
Chamber Member No. : 47854
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Essa
Obaid Khalfan Al Radha 51%
·
Haroon
Haji Habib Haji Habib 25%
·
Mohamed
Anas Kapadia 24%
Activities: Engaged in the import and distribution of
fuels, basic industrial chemicals, petrochemicals and related raw materials.
Import
Countries: Europe, the Far
East and the United States of America.
Clients:
·
Shell
Pakistan
·
BASF
·
Pakistan
State Oil
·
Nimir
Chemicals
·
Qaiser
LG Petrochemical
·
Super
Chemicals
·
Al
Abbas Sugar Mills
·
Shell
International
·
Agar
International
·
Shams
Petrochemicals
·
Universal
Footwear
·
Faiz
Chemicals
·
Mobile
Askari
·
Shaffi
Chemicals
·
ATS
Synthetics
·
Standard
Board
Subject has a
workforce of 18 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.
·
Commercial
Bank of Dubai
Baniyas Street
Deira
PO Box: 1709
Dubai
Tel: (971-4) 2227121 / 2253222
Fax: (971-4) 2220943 / 2254565
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.59.36 |
|
UK Pound |
1 |
Rs.89.69 |
|
Euro |
1 |
Rs.77.99 |
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.