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Report Date : |
12.11.2013 |
IDENTIFICATION DETAILS
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Name : |
FRONT LINE
TRADING LLC |
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Registered Office : |
Obaid Bin Thani
Building, Shop No. 1, Al Khor Street, Al Ras, Deira, P O Box 30649, Dubai |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
16.07.1995 |
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Com. Reg. No.: |
51225, |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Distributors of
General Foodstuffs and Beverages |
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No. of Employees : |
7 |
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 |
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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 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 : FRONT LINE TRADING LLC
Country of Origin :
Legal Form :
Limited Liability Company - LLC
Registration Date : 16th
July 1995
Commercial
Registration Number : 51225,
Trade Licence
Number : 238516
Chamber Membership
Number : 34732
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 7
Activities :
Distributors of general foodstuffs and beverages
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
FRONT LINE TRADING
LLC
Building :
Street :
Area : Al Ras, Deira
PO Box : 30649
Town :
Country :
Telephone : (971-4) 2291593 / 2263617
Facsimile : (971-4) 2291594
Email : frontline@emirates.net.ae / frontlinetrading@hotmail.com
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
·
Rakesh
Kumar Goel Indian Managing
Director
·
Nasser
Abdullah Ahmad Al Dabal Emirati Director
Date of Establishment : 16th
July 1995
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 51225,
Trade Licence No. : 238516
(Expires 15/07/2014)
Chamber Member No. : 34732
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Nasser
Abdullah Ahmad Al Dabal 51%
·
Rakesh
Kumar Goel 49%
Activities: Engaged in the import and distribution of
general foodstuffs and beverages.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a
workforce of 7 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 9,200,000 UAE Dh 9,850,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Emirates
National Bank of
PO Box: 777
Tel: (971-4) 2222241
No complaints
regarding subject’s payments have been reported.
According to local sources,
subject meets its payment obligations in a timely manner and the company is
considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.30 |
|
|
1 |
Rs.101.36 |
|
Euro |
1 |
Rs.84.60 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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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.