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Report Date : |
26.10.2013 |
IDENTIFICATION DETAILS
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Name : |
GOLDEN OSKAR TRADING CO LLC |
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Registered Office : |
Al Faheidi Street Al Souq Al Kabir 51253 |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
22.01.1990 |
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Com. Reg. No.: |
46396, |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Import and distribution of readymade garments and textiles. |
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No. of Employees : |
14 |
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) |
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UAE |
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 |
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 : GOLDEN OSKAR TRADING CO LLC
Country of Origin :
Legal Form : Limited Liability Company – LLC
Registration Date : 22nd January 1990
Commercial Registration Number : 46396,
Trade Licence Number : 221936
Chamber Membership Number : 18229
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 14
Activities : Distributors of readymade garments and textiles
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
GOLDEN OSKAR TRADING CO LLC
Street :
Area : Al Souq Al
Kabir
PO Box : 51253
Town :
Country :
Telephone : (971-4) 3538064
Facsimile : (971-4)
3530616
Email : goldenoskar_dxb@yahoo.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
· Doulat Ram Kalumal
Indian Managing
Director
· Govind Railwani
Seoomal Indian Director
· Saleh Karam
Mohamed Hassan Al Balooshi Emirati Director
Date of
Establishment : 22nd
January 1990
Legal Form : Limited Liability
Company – LLC
Commercial Reg.
No. : 46396,
Trade Licence No. : 221936 (Expires 21/01/2014)
Chamber Member No. : 18229
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
· Saleh Karam
Mohamed Hassan Al Balooshi 51%
· Doulat Ram Kalumal
]
] 49%
· Govind Railwani
Seoomal ]
Activities: Engaged in the import and distribution of readymade garments and
textiles.
Import Countries: Europe and the
Operating Trend: Steady
Subject has a workforce of 14 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 13,260,000 UAE Dh
13,425,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Standard Chartered Bank
PO Box: 999
Tel: (971-4)
2520455
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.63 |
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|
1 |
Rs.99.94 |
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Euro |
1 |
Rs.85.14 |
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 |
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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.