|
Report Date : |
04.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHEEBA GENERAL TRADING CO LLC |
|
|
|
|
Registered Office : |
Al |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
06.05.1979 |
|
|
|
|
Com. Reg. No.: |
62881, |
|
|
|
|
Legal Form : |
Limited Liability Company - LLC |
|
|
|
|
Line of Business : |
Engaged in the wholesale and retail of electrical equipment, perfumes,
mobile telephones and video Cameras, as well as foodstuff commodities such as
Sugar, Spices, Dry Fruits, all types of Grains and various other commodities |
|
|
|
|
No of Employees : |
50 |
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 |
|
Payment Behaviour : |
No Complaints |
|
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 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
United Arab Emirates |
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 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 : SHEEBA GENERAL TRADING CO LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 6th May 1979
Commercial Registration Number : 62881, Dubai
Trade Licence Number : 204293
Chamber Membership Number : 5594
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Total Workforce : 50
Activities : Wholesalers and retailers of electrical equipment, perfumes, mobile
telephones and video cameras.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Gopal Goyale, Finance Manager
SHEEBA GENERAL TRADING CO LLC
Building : Al Fardan
Building
Street : Al Fahidi
Street
PO Box : 51305
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 3511211
/ 2254140
Facsimile : (971-4)
3525031
Mobile : (971-50) 1052341 / (971-55) 9565415
Email : sheebagt@eim.ae
/ sheeba@eim.ae
/ sheebagt@gmail.com
Subject operates from a medium sized suite of offices and a showroom that
are rented and located in the Central Business Area of Dubai.
Branch Office (s)
Location Description
· Al Ras Market Office
premises
Dubai
Tel: (971-4)
2254140
Name Nationality Position
· Babu Jethani
Jajumal Getani Indian Managing
Director
· Beena Jethani
Shankardas Indian Director
· Sheeba Jethani
Babu Jethani Indian Director
· Hassan Abdullah
Hussain Mohamed Emirati Director
· Naresh Balchandani - General
Manager
· Gopal Goyale - Finance Manager
· Lal Jethani - Procurement
Manager
Date of
Establishment : 6th
May 1979
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 62881, Dubai
Trade Licence No. : 204293 (Expires on 01/04/2015)
Chamber Member No. : 5594
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
· Hassan Abdullah
Hussain Mohamed 51%
· Babu Jethani
Jajumal Getani 24%
· Beena Jethani Shankardas 22%
· Sheeba Jethani
Babu Jethani 3%
· Gaybee Overseas LLC
Dubai
United
Arab Emirates
· Makers House LLC
Dubai
United Arab
Emirates
Activities: Engaged in the wholesale and retail of electrical equipment, perfumes,
mobile telephones and video
Cameras, as well as foodstuff commodities
such as Sugar, Spices, Dry Fruits, all types of Grains and
various other commodities
Import Countries: China, Japan and Europe.
International
Suppliers:
·
Axiom Electronics Japan
·
Eros Electronics Japan
Operating Trend: Steady
Subject has a workforce of 50 employees.
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/12: Year
Ending 31/12/13:
Total Sales UAE
Dh 195,000,000 UAE Dh
205,000,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Gopal Goyale,
Finance Manager
·
Bank Saderat Iran
Al Maktoum Street
PO Box: 4182
Dubai
Tel: (971-4)
2221161
Fax: (971-4)
2234460
No complaints regarding subject’s payments have been reported.
Credit amount 150,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
Sheeba General Trading Co LLC is very well established in the local market
with operations dating back to 1979. The company specialises in the import,
distribution and retail of electrical equipment and supplies.
During the course of this investigation nothing detrimental was
uncovered regarding the manner in which payment obligations are fulfilled. The
operating history is clear and the financial situation is satisfactory. As such
we are of the opinion that the subject is a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.89 |
|
|
1 |
Rs.96.83 |
|
Euro |
1 |
Rs.76.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
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%)
|
Report Date : |
04.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHEEBA GENERAL TRADING CO LLC |
|
|
|
|
Registered Office : |
Al Fardan Building, Al Fahidi Street, 51305, Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
06.05.1979 |
|
|
|
|
Com. Reg. No.: |
62881, Dubai |
|
|
|
|
Legal Form : |
Limited Liability Company - LLC |
|
|
|
|
Line of Business : |
Engaged in the wholesale and retail of electrical equipment, perfumes,
mobile telephones and video Cameras, as well as foodstuff commodities such as
Sugar, Spices, Dry Fruits, all types of Grains and various other commodities |
|
|
|
|
No of Employees : |
50 |
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 |
|
Payment Behaviour : |
No Complaints |
|
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 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
United Arab Emirates |
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 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 : SHEEBA GENERAL TRADING CO LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 6th May 1979
Commercial Registration Number : 62881, Dubai
Trade Licence Number : 204293
Chamber Membership Number : 5594
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Total Workforce : 50
Activities : Wholesalers and retailers of electrical equipment, perfumes, mobile
telephones and video cameras.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Gopal Goyale, Finance Manager
SHEEBA GENERAL TRADING CO LLC
Building : Al Fardan
Building
Street : Al Fahidi
Street
PO Box : 51305
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 3511211
/ 2254140
Facsimile : (971-4)
3525031
Mobile : (971-50) 1052341 / (971-55) 9565415
Email : sheebagt@eim.ae
/ sheeba@eim.ae
/ sheebagt@gmail.com
Subject operates from a medium sized suite of offices and a showroom
that are rented and located in the Central Business Area of Dubai.
Branch Office (s)
Location Description
· Al Ras Market Office
premises
Dubai
Tel: (971-4)
2254140
Name Nationality Position
· Babu Jethani
Jajumal Getani Indian Managing
Director
· Beena Jethani
Shankardas Indian Director
· Sheeba Jethani
Babu Jethani Indian Director
· Hassan Abdullah
Hussain Mohamed Emirati Director
· Naresh Balchandani - General
Manager
· Gopal Goyale - Finance
Manager
· Lal Jethani - Procurement
Manager
Date of
Establishment : 6th
May 1979
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 62881, Dubai
Trade Licence No. : 204293 (Expires on 01/04/2015)
Chamber Member No. : 5594
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
· Hassan Abdullah
Hussain Mohamed 51%
· Babu Jethani
Jajumal Getani 24%
· Beena Jethani
Shankardas 22%
· Sheeba Jethani
Babu Jethani 3%
· Gaybee Overseas LLC
Dubai
United
Arab Emirates
· Makers House LLC
Dubai
United Arab
Emirates
Activities: Engaged in the wholesale and retail of electrical equipment, perfumes,
mobile telephones and video
Cameras, as well as foodstuff commodities such
as Sugar, Spices, Dry Fruits, all types of Grains and
various other commodities
Import Countries: China, Japan and Europe.
International
Suppliers:
·
Axiom Electronics Japan
·
Eros Electronics Japan
Operating Trend: Steady
Subject has a workforce of 50 employees.
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/12: Year
Ending 31/12/13:
Total Sales UAE
Dh 195,000,000 UAE Dh 205,000,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Gopal Goyale,
Finance Manager
·
Bank Saderat Iran
Al Maktoum Street
PO Box: 4182
Dubai
Tel: (971-4)
2221161
Fax: (971-4)
2234460
No complaints regarding subject’s payments have been reported.
Credit amount 150,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
Sheeba General Trading Co LLC is very well established in the local
market with operations dating back to 1979. The company specialises in the
import, distribution and retail of electrical equipment and supplies.
During the course of this investigation nothing detrimental was
uncovered regarding the manner in which payment obligations are fulfilled. The
operating history is clear and the financial situation is satisfactory. As such
we are of the opinion that the subject is a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.89 |
|
|
1 |
Rs.96.83 |
|
Euro |
1 |
Rs.76.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
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%)