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Report Date : |
19.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
AL ASEEL TRADING LLC |
|
|
|
|
Registered Office : |
Al Zarooni Building, Office No. 311, Al Qusais Road (Damascus Road),
Deira, PO Box : 235129,
Dubai |
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|
|
|
Country : |
United Arab Emirates |
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|
|
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Date of Incorporation : |
16.06.2013 |
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|
|
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Com. Reg. No.: |
1117270, Dubai |
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|
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Legal Form : |
Limited Liability Company |
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|
|
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Line of Business : |
Subject is engaged in the wholesale and retail of Arabic dress,
including kaftans |
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|
|
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No. of Employees : |
2 |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
---- |
NB |
New Business |
---- |
|
Status : |
New company |
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Payment Behaviour : |
Unknown |
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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 |
|
Restricted |
C2 |
|
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 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 :
AL ASEEL TRADING LLC
Country of Origin : Dubai, United Arab
Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
16th June 2013
Commercial Registration Number :
1117270, Dubai
Trade Licence Number :
690473
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
2
Activities :
Wholesale and retail of Arabic dress.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
AL ASEEL TRADING
LLC
Registered &
Physical Address
Building : Al Zarooni
Building, Office No. 311
Street : Al Qusais
Road (Damascus Road)
Area : Deira
PO Box : 235129
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2645233
Facsimile : (971-4)
2645231
Mobile : (971-55)
4356138
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
Sahil Tariq Indian Managing
Director
Faisal Al Khayyal Emirati Director
Date of Establishment : 16th
June 2013
Legal Form :
Limited
Liability Company - LLC
Commercial Reg. No. : 1117270, Dubai
Trade Licence No. : 690473
Issued Capital : UAE Dh 300,000
Paid up Capital :
UAE
Dh 300,000
Name of
Shareholder (s) Percentage
Faisal Al Khayyal 51%
Sahil Tariq 49%
Activities : Engaged in the
wholesale and retail of Arabic dress, including kaftans.
Import Countries : Europe and the
Far East
International Suppliers:
·
New Kashmiri Dijoo Art India
Subject has a workforce of 2 employees.
Subject is a newly formed business and as a result financial information
is not currently available.
National Bank of Ras Al Khaimah
PO Box: 1531
Dubai
Tel : (971-4) 2226291
Fax : (971-4) 2281312
No complaints regarding subject’s payments have been reported.
In view of subject’s infancy, extensive payment and financial are not available,
therefore dealings are recommended to be on secured terms, and a close
monitoring of subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.63 |
|
|
1 |
Rs.101.06 |
|
Euro |
1 |
Rs.84.56 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.