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Report Date : |
05.09.2013 |
IDENTIFICATION DETAILS
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Name : |
AL REDHA INTERNATIONAL GENERAL TRADING LLC |
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Registered Office : |
Mohamed Ismail Al
Afghani Building, Al Ras Street, Deira, P O Box 7203, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
25.12.2000 |
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Com. Reg. No.: |
1061317, Dubai |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
importer and
distributor of foodstuff and
beverages, including fruit and vegetables, spices and condiments, Thai
products and consumer goods, such as sprays, candles, sweets and towels |
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No. of Employees : |
15 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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) |
|
United Arab
Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
|
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 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 REDHA INTERNATIONAL GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company – LLC
Start Date : 25th December 2000
Registration Date : 23rd June 2010
Commercial Registration Number : 1061317, Dubai
Trade Licence Number : 641126
Chamber Membership Number : 184019
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 15
Activities : Import and distribution of foodstuff and beverages.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Vickas Swani, Sales Manager
AL REDHA INTERNATIONAL
GENERAL TRADING LLC
Registered &
Physical Address
Building : Mohamed Ismail Al Afghani
Building
Street : Al Ras Street
Area : Deira
PO Box : 7203
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2291406 / 2291407
Facsimile : (971-4) 2291408 / 3335394
Mobile : (971-50) 6563421 / 6777805 /
6538982
Email : alredhar@emirates.net.ae
Premises
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Dubai.
Branch Offices
Location Description
·
Al Awir
Industrial Area Warehouse
premises
Dubai
Tel: (971-4) 3335393
Fax: (971-4) 3335394
Name Nationality Position
·
Kishore
Rajwani Chandi Indian Managing
Director
·
Radha
Kishore Rajwani Chandi Indian Director
·
Musabeh
Mohamed Sultan Obaid Al Suwaidi Emirati Director
·
Nowshat
Abdulrahim - Administration
Manager
·
Vickas
Swani - Sales
Manager
·
Jay Raj - Financial
Controller
Date of Establishment : 25th
December 2000, however subject was registered on 23rd June 2010.
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1061317,
Dubai
Trade Licence No. : 641126
(Expires 16/06/2014)
Chamber Member No. : 184019
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Musabeh
Mohamed Sultan Obaid Al Suwaidi 51%
·
Kishore
Rajwani Chandi 40%
·
Radha
Kishore Rajwani Chandi 9%
Activities: Engaged in the import and distribution of
foodstuff and beverages, including fruit and vegetables, spices and condiments,
Thai products and consumer goods, such as sprays, candles, sweets and towels.
Import Countries: Austria, Thailand, China, India,
Hong Kong, Spain, and the United States of America
International
Suppliers:
·
NB
Value Link Co Ltd Thailand
·
Marsh United States
of America
·
Magic
Time United
States of America
·
Pfanner Austria
·
Lee Kum
Kee Hong Kong
·
Harvest
King Thailand
·
Aeroplane India
·
Surya
International India
Brand Names: COOL DRINKS and REAL FRESH
Operating Trend: Steady
Subject has a
workforce of 15 employees.
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/11: Year
Ending 31/12/12:
Total Revenue UAE Dh 27,400,000 UAE Dh 30,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Vickas Swani, Sales Manager
·
Union
National Bank
Baniyas Street
PO Box: 6811
Dubai
Tel: (971-4) 2211188
·
Habib
Bank Ltd
Murshid Bazaar
PO Box: 888
Dubai
Tel: (971-4) 2221281
Fax: (971-4) 2284631
·
National
Bank of Umm Al Quwain
Khalid Bin Al Waleed Street
PO Box: 9175
Dubai
Tel: (971-4) 3975382
Acc No. 0085184340
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.67.03 |
|
UK Pound |
1 |
Rs.104.32 |
|
Euro |
1 |
Rs.88.24 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
|
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 |
|
---- |
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.