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Report Date : |
06.02.2014 |
IDENTIFICATION DETAILS
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Name : |
RATTI TRADING LLC |
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Registered Office : |
Hafeeza Ahmad Abdun
Nabei Building, Al Hisn Street, Al Souq Al Kabir, P O Box 51370, Dubai |
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Country : |
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Date of Incorporation : |
21.11.1991 |
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Com. Reg. No.: |
40176, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
wholesaler and retailer of readymade garments and
furnishing fabrics. |
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No. of Employees : |
60 |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
United Arab
Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 : RATTI TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 21st November 1991
Commercial Registration Number : 40176, Dubai
Trade Licence Number : 226429
Chamber Membership Number : 22531
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 60
Activities : Wholesale and retail of readymade garments and furnishing fabrics
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Thomas Zakaria, Public Relations Officer
RATTI TRADING LLC
Registered &
Physical Address
Building : Hafeeza Ahmad Abdun Nabei
Building
Street : Al Hisn Street
Area : Al Souq Al Kabir
PO Box : 51370
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3533099 / 3538143 / 3538168 /
3353114
Facsimile : (971-4) 3539928 / 3534588
Mobile : (971-50) 4572330
Email : ratti@emirates.net.ae
Premises
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 Offices
Location Description
·
Al Sayegh Building Showroom
premises
Bur Dubai
Dubai
Tel: (971-4)
3531144
·
Wasil Building Showroom
premises
Dubai
Tel: (971-4) 3535959
·
Deira Showroom
premises
Dubai
Name Nationality Position
·
Lal
Manghanmal Hiranand Ramchandani Indian Managing
Director
·
Ishwar
Lilaram Daswani Indian Director
·
Purshotam
Kishan Satwani Indian Director
·
Vinod
Motiram Datwani Indian Director
·
Abdul
Salam Ibrahim Mohamed Hussain Emirati Director
·
Umesh Chandanani - Financial
Controller
·
Thomas Zakaria - Public
Relations Officer
Date of Establishment : 21st
November 1991
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 40176, Dubai
Trade Licence No. : 226429
(Expires 17/11/2014)
Chamber Member No. : 22531
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder
(s) Percentage
·
Abdul
Salam Ibrahim Mohamed Hussain 51.0%
·
Lal
Manghanmal Hiranand Ramchandani 21.5%
·
Ishwar
Lilaram Daswani 17.5%
·
Purshotam
Kishan Satwani 7.5%
·
Vinod
Motiram Datwani 2.5%
Activities: Engaged in the wholesale and retail of
readymade garments and furnishing fabrics.
Import
Countries: France, Japan,
Indonesia and South Korea
International Suppliers:
·
Y Nishta Japan
·
Dentalle Merry France
·
Toray Indonesia
· Daewoo South
Korea
Subject has a
workforce of 60 employees.
Companies
registered in Dubai, United Arab Emirates are not legally required to make
their accounts public and no financial information was released by the company
or submitted by outside sources.
·
Emirates
National Bank of Dubai
Baniyas Street
PO Box: 777
Dubai
Tel: (971-4) 2222555
Fax: (971-4) 2221110
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.62.45 |
|
|
1 |
Rs.102.00 |
|
Euro |
1 |
Rs.84.35 |
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 |
|
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.