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Report Date : |
25.10.2013 |
IDENTIFICATION DETAILS
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Name : |
SNK COMMODITIES DMCC |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
15.08.2011 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of general foodstuff products and agricultural commodities. |
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No. of Employees : |
4 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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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 :
SNK COMMODITIES DMCC
Country of Origin :
Legal Form :
Limited Liability Company
Registration Date :
15th August 2011
DMCC Number :
2798
Trade Licence Number :
31807
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
4
Activities :
Distributors of general foodstuff products and agricultural commodities.
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Person Interviewed : Muhamed Shahid, Public Relations
Manager
SNK COMMODITIES DMCC
Registered &
Physical Address
Location :
PO Box : 126920
Town :
Country :
Telephone : (971-4) 3929941
Facsimile : (971-4)
3929941
Email : xpertsline@hotmail.com
Premises
Subject operates from a small suite of offices that are rented and located
in the Central Business Area of Dubai.
Name Position
Samaram Girish Ganadhya Managing
Director
Pradeep Kumar Mehta Director
Muhamed Shahid Public
Relations Manager
Date of Establishment : 15th
August 2011
Legal Form : Limited Liability
Company
DMCC No. : 2798
Trade Licence No. : 31807
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of
Shareholder (s)
Samaram Girish Ganadhya
Pradeep Kumar Mehta
Activities: Engaged in the import and distribution of general foodstuff products
and agricultural commodities, including dry hibiscus flower, sesame seeds, raw
cashew nuts, gum and dry split ginger.
Import Countries: Europe and the
Subject has a workforce of 4 employees.
Financial highlights provided by local sources are given below:
Currency:
Year Ending 31/12/12:
Total Sales UAE
Dh 85,500,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Muhamed Shahid, Public Relations
Manager
Emirates National Bank of
PO Box: 777
Tel: (971-4) 2222241
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.61.41 |
|
|
1 |
Rs.99.53 |
|
Euro |
1 |
Rs.84.82 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
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 |
|
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 |
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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 |
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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.