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Report Date : |
09.11.2013 |
IDENTIFICATION DETAILS
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Name : |
SAPHIRE MARBLES
& BUILDING MATERIALS LLC |
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Registered Office : |
Plot No. 153,
Industrial Area No. 15, 32318 Sharjah |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
06.01.2004 |
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Com. Reg. No.: |
473018 Sharjah |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Engaged in the import
and distribution of marble and building materials. |
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No. of Employees : |
8 |
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 : |
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) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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 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
|
Source : CIA |
Company Name : SAPHIRE MARBLES &
BUILDING MATERIALS LLC
Country of Origin :
Legal Form :
Limited Liability Company - LLC
Registration Date : 6th
January 2004
Commercial
Registration Number : 473018,
Sharjah
Trade Licence
Number : 524933
Chamber Membership
Number : 61495
Issued Capital : UAE Dh
150,000
Paid up Capital : UAE Dh
150,000
Total Workforce : 8
Activities :
Distributors of marble and building materials
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
SAPHIRE MARBLES
& BUILDING MATERIALS LLC
Location : Plot No. 153
Area : Industrial Area No. 15
PO Box : 32318
Town : Sharjah
Country :
Telephone : (971-6) 5340790
Facsimile : (971-6) 5340791
Email : saphirem@emirates.net.ae
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Industrial Area of Sharjah.
Name Nationality Position
·
Surya Prakash Kabra Indian Managing
Director
·
Abdulrahim Mohamed Abdullah Emirati Director
·
Ashok
Kumar Sharma - Financial
Controller
·
Vishnu
Parasad - Administration
Executive
Date of Establishment : 6th
January 2004
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 473018
Trade Licence No. : 524933
Chamber Member No. : 61495
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
·
Abdulrahim Mohamed Abdullah 51%
·
Surya Prakash Kabra 49%
·
Goodwill
General Trading FZE
Activities: Engaged in the import and distribution of
marble and building materials.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a
workforce of 8 employees.
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/11: Year
Ending 31/12/12:
Total Sales UAE Dh 10,100,000 UAE Dh 10,600,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
National
Bank of Sharjah
PO Box: 4
Sharjah
Tel: (971-6) 5547747
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.62.73 |
|
|
1 |
Rs.100.92 |
|
Euro |
1 |
Rs.84.06 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
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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 |
|
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.