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Report Date : |
20.03.2013 |
IDENTIFICATION DETAILS
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Name : |
MOHSEN LINE GENERAL TRADING LLC |
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Registered Office : |
Twin Towers, 16th
Floor, Office No. 1601, Baniyas Street, P O Box 35151 & 182466, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
02.03.2005 |
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Com. Reg. No.: |
72629, Dubai |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of general foodstuff products |
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No. of Employees : |
18 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
Regular |
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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) |
|
United Arab
Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source : CIA |
Company Name : MOHSEN LINE GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 2nd March 2005
Commercial Registration Number : 72629, Dubai
Trade Licence Number : 566481
Chamber Membership Number : 95159
Issued Capital : UAE Dh 600,000
Paid up Capital : UAE Dh 600,000
Total Workforce : 18
Activities : Distributors of general foodstuff products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
MOHSEN LINE GENERAL
TRADING LLC
Registered &
Physical Address
Building : Twin Towers, 16th
Floor, Office No. 1601
Street : Baniyas Street
PO Box : 35151 & 182466
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2288499
Facsimile : (971-4) 2288733
Mobile : (971-50) 4641279
Email : mohsengt@emirates.net.ae / info@mohsen.ae
Please note that
subject’s previous address was, United Arab Agencies Building, Al Rigga, Deira,
Dubai.
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Dubai.
Name Nationality Position
·
Ahmed
Mohsen Sarrafan Chaharsoughi Iranian Managing Director
·
Mohamed
Mohsen Sarrafan Chaharsoughi Iranian Director
·
Ali
Mohsen Sarrafan Chaharsoughi Iranian Director
·
Abdulaziz
Abdullah Mohamed Abdullah Ahli Emirati Director
·
Azizullah
Kuladari - Commercial
Manager
Date of Establishment : 2nd
March 2005
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 72629, Dubai
Trade Licence No. : 566481
(Expires 01/03/2014)
Chamber Member No. : 95159
Issued Capital : UAE Dh 600,000
Paid up Capital : UAE Dh 600,000
Name of Shareholder
(s) Percentage
·
Abdulaziz
Abdullah Mohamed Abdullah Ahli 51%
·
Ahmed
Mohsen Sarrafan Chaharsoughi 17%
·
Mohamed
Mohsen Sarrafan Chaharsoughi 16%
·
Ali
Mohsen Sarrafan Chaharsoughi 16%
Activities: Engaged in the import and distribution of
general foodstuff products, including rice, tea and sugar.
Import
Countries: India and
Pakistan.
Operating Trend: Steady
Subject has a
workforce of 18 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 Sales UAE Dh 9,870,000 UAE Dh 10,300,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Bank
Saderat Iran
Al Maktoum
PO Box: 4182
Dubai
Tel: (971-4) 2221161
·
Emirates
National Bank of Dubai
Baniyas Street
PO
Box: 777
Dubai
Tel:
(971-4) 2222241
No complaints
regarding subject’s payments have been reported.
Established in
2005, subject is involved in the import and distribution of general foodstuff
products, including rice, tea and sugar.
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.54.26 |
|
UK Pound |
1 |
Rs.81.94 |
|
Euro |
1 |
Rs.70.21 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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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.