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Report Date : |
15.02.2014 |
IDENTIFICATION DETAILS
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Name : |
FATMA ABDULLAH GENERAL TRADING LLC |
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Registered Office : |
Murshid Bazaar, Deira 4035 Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
30.10.2013 |
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Com. Reg. No.: |
1124166, Dubai |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Subject holds a general trade licence, enabling it to distribute
general merchandise. |
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No of Employees : |
4 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
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 – 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 |
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Low |
A2 |
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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 : FATMA ABDULLAH GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company – LLC
Registration Date : 30th October 2013
Commercial Registration Number : 1124166, Dubai
Trade Licence Number : 697441
Chamber Membership Number : 225206
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 4
Activities : General trade licence
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
FATMA ABDULLAH
GENERAL TRADING LLC
Street : Murshid
Bazaar
Area : Deira
PO Box : 4035
Town : Dubai
Country : United Arab Emirates
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
Name Nationality Position
· Abdul Rahuf Kunhi
Kandy Mammootty Thayil Puthiya Purayil Indian Managing Director
· Abdullah Mohamed
Noor Al Haj Naser Abdullah Emirati Director
Date of
Establishment : 30th
October 2013
Legal Form : Limited Liability
Company – LLC
Commercial Reg.
No. : 1124166, Dubai
Trade Licence No. : 697441 (Expires 29/10/2014)
Chamber Member No. : 225206
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
· Abdullah Mohamed
Noor Al Haj Naser Abdullah 51%
· Abdul Rahuf Kunhi
Kandy Mammootty Thayil Puthiya Purayil 49%
Activities: Subject holds a general trade licence, enabling it to distribute
general merchandise.
Import Countries: Europe and the Far East.
Subject has a workforce of 4 employees.
Subject is a newly formed business and as a result financial information
is not currently available.
·
Commercial Bank of Dubai
Baniyas Street
Deira
PO Box: 1709
Dubai
Tel: (971-4)
2227121 / 2253222
Fax: (971-4)
2220943 / 2254565
No complaints regarding subject’s payments have been reported.
Please note that we were unable to contact the subject directly during
our investigation.
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. 62.27 |
|
|
1 |
Rs. 103.66 |
|
Euro |
1 |
Rs. 85.17 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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 |
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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.