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Report Date : |
23.10.2013 |
IDENTIFICATION DETAILS
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Name : |
PRITHVVI TRADING LLC |
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Registered Office : |
Al |
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Country : |
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Date of Incorporation : |
15.03.2012 |
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Com. Reg. No.: |
1091905, |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Wholesalers and retailers of textiles and readymade garments. |
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No. of Employees : |
04 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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) |
|
UAE |
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 |
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
Source
: CIA
Company Name : PRITHVVI TRADING LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 15th March 2012
Commercial Registration Number : 1091905,
Trade Licence Number : 667257
Chamber Membership Number : 203065
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 4
Activities : Wholesalers and retailers of textiles and readymade garments
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Millon Ashok Kumar, Director
PRITHVVI TRADING LLC
Building : Al Shamsi Building, Office No. 2
Area : Murshid
Bazaar, Deira
PO Box : 44452
Town :
Country :
Telephone : (971-4) 2518414
Facsimile : (971-4)
2518415
Email : prithvvi@eim.ae
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
· Girish Baghwani
Prasad Indian Managing
Director
· Kardar Bhallaj Indian Director
· Millon Ashok Kumar Indian Director
· Mohamed Najib
Abdul Rahman Shafial Abbas Emirati Director
Date of
Establishment : 15th
March 2012
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 1091905,
Trade Licence No. : 667257 (Expires 14/03/2014)
Chamber Member No. : 203065
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
· Mohamed Najib
Abdul Rahman Shafial Abbas 51%
· Girish Baghwani
Prasad ]
]
· Kardar Bhallaj ]
49%
]
· Millon Ashok Kumar ]
Activities: Engaged in the wholesale and retail of textiles and readymade garments.
Import Countries: Europe and
International
Suppliers:
·
Shree Textile
Subject has a workforce of 4 employees.
Subject is a newly formed business and as a result financial information
is not currently available.
·
Habib Bank AG
Bur
Tel: (971-4)
3534545
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.61.78 |
|
|
1 |
Rs.99.66 |
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Euro |
1 |
Rs.84.49 |
INFORMATION DETAILS
|
Report
Prepared by : |
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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 |
|
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.