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Report Date : |
31.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
KAANE AMERICAN INTERNATIONAL
TOBACCO CO LLC |
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|
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Registered Office : |
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|
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Country : |
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|
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Date of Incorporation : |
19.11.2002 |
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Legal Form : |
Limited Liability
Company – LLC |
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|
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Line of Business : |
Manufacturers of
cigarettes |
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|
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No. of Employees : |
100 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
No complaints |
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|
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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 |
|
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
|
Source : CIA |
Company Name : KAANE AMERICAN INTERNATIONAL
TOBACCO CO LLC
Country of Origin :
Legal Form :
Limited Liability Company – LLC
Registration Date : 19th
November 2002
Trade Licence
Number : 3697
Chamber Membership
Number : 82713
Issued Capital : UAE Dh
183,500
Paid up Capital : UAE Dh
183,500
Total Workforce : 100
Activities :
Manufacturers of cigarettes
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
KAANE AMERICAN
INTERNATIONAL TOBACCO CO LLC
Street :
Area : Jebel Ali Free Zone
PO Box : 61021
Town :
Country :
Telephone : (971-4) 8830466
Facsimile : (971-4) 8830467
Email : kaane@emirates.net.ae / sales@kaane.ae
Subject operates
from a suite of offices and a factory covering 13,000 square metres that are
rented and located in the Jebel Ali Free Zone Area of Dubai.
Name Nationality Position
·
Gyanendra
Raj Mehta Indian Managing
Director
Date of Establishment : 19th
November 2002
Legal Form :
Limited Liability Company –
LLC
Trade Licence No. : 3674
(Expires 23/01/2014)
Chamber Member No. : 82713
Issued Capital : UAE Dh 183,500
Paid up Capital : UAE Dh 183,500
·
Kaane
American International Tobacco Co Ltd 100%
Activities: Engaged in the manufacture of cigarettes.
Import
Countries: Europe and the
Brand Names: SIR, GOLD MOUNT and KAANY
Subject has a
workforce of 100 employees.
Companies
registered in
·
Commercial
Bank of
Deira
PO Box: 1709
Tel: (971-4) 2227121 / 2253222
Fax: (971-4) 2220943 / 2254565
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.61.49 |
|
|
1 |
Rs.98.71 |
|
Euro |
1 |
Rs.84.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.