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Report Date : |
30.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
ATLAS HOME LINENS
TRADING LLC |
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|
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Registered Office : |
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|
|
Country : |
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|
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Date of Incorporation : |
05.05.2014 |
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Legal Form : |
Limited Liability Company - LLC |
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LINE OF BUSINESS : |
IMPORT AND
DISTRIBUTION OF HOME LINENS AND TOWELS. |
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No. of Employees : |
8 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
-- |
NB |
New Business |
-- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
|
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 : ATLAS HOME
LINENS TRADING LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 5th
May 2014
Trade Licence
Number : 709354
Chamber Membership
Number : 234179
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 8
Activities :
Distributors of home linens and towels
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
ATLAS HOME LINENS TRADING LLC
Building :
Area : Mushid Bazaar, Deira
PO Box : 64674
Town :
Country : United Arab Emirates
Telephone : (971-4) 2342400
Facsimile : (971-4) 2342500
Email : ishak@atlashomelinen.com / ashraf@atlashomelinen.com
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Ishak
Ibrahim Indian Managing
Director
·
Abbass
Abdullah Abbass Namat Al Farsi Emirati Director
·
Mohamed
Ashraf - Sales
Manager
Date of Establishment : 5th
May 2014
Legal Form :
Limited Liability Company -
LLC
Trade Licence No. : 709354
(Expires 04/05/2015)
Chamber Member No. : 234179
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Abbass
Abdullah Abbass Namat Al Farsi 51%
·
Ishak
Ibrahim 49%
Activities: Engaged
in the import and distribution of home linens and towels.
Import
Countries: Europe and the
Subject has a
workforce of 8 employees.
Subject is a newly formed
business and as a result financial information is not currently available.
·
HSBC
Bank
Deira Souk Branch
PO Box: 66
Tel: (971-4) 2535000
No complaints
regarding subject’s payments have been reported.
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of
subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.65 |
|
|
1 |
Rs.99.14 |
|
Euro |
1 |
Rs.77.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.