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Report Date : |
06.08.2014 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Office No. M1-328, Plot No. 312-44, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
24.12.2012 |
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Com. Reg. No.: |
1107036 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the Import and Distribution
of Textiles, Readymade Garments, Perfumes and Cosmetics |
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No of Employees : |
4 |
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 – June 01, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 : NEW ORCHID TRADING CO LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 24th December 2012
Commercial Registration Number : 1107036,
Trade Licence Number : 680851
Chamber Membership Number : 212860
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 4
Activities : Distributors of textiles, readymade garments, perfumes and cosmetics
Financial Condition : Fair
Payments : Nothing detrimental uncovered
NEW ORCHID TRADING
CO LLC
Building : Office No. M1-328, Plot No.
312-44
Street :
Area : Bur
PO Box : 97608
Town :
Country :
Telephone : (971-4) 7589969
Facsimile : (971-4) 7589969
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Tejashkumar
Arvindkumar Desai Desai Arvindkumar Chhaganlal Indian Managing Director
·
Satish
Ramesh Poojary Poojary Ramesh Venkatesh Indian Director
·
Marwan
Abdulwahab Sulaman Arab Emirati Director
Date of Establishment : 24th
December 2012
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1107036,
Trade Licence No. : 680851
(Expires 23/12/2014)
Chamber Member No. : 212860
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Marwan
Abdulwahab Sulaman Arab 51%
·
Tejashkumar
Arvindkumar Desai Desai Arvindkumar Chhaganlal 25%
·
Satish
Ramesh Poojary Poojary Ramesh Venkatesh 24%
Activities: Engaged
in the import and distribution of textiles, readymade garments, perfumes and
cosmetics.
Import
Countries: Europe and the
Subject has a
workforce of 4 employees.
Financial
highlights provided by local sources are given below:
Currency:
Year Ending 31/12/13:
Total Sales UAE
Dh 5,700,000
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.
According to local sources,
subject meets its payment obligations in a timely manner and 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 |
|
US Dollar |
1 |
Rs. 60.86 |
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|
1 |
Rs. 102.67 |
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Euro |
1 |
Rs. 81.69 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
PDT |
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.