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Report Date : |
22.01.2014 |
IDENTIFICATION DETAILS
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Name : |
MONALISA LLC |
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Registered Office : |
New Sanaya Building, 2nd Floor New Industrial Area PO Box
941 Ajman |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
15.10.1981 |
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Com. Reg. No.: |
3635, Ajman |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Subject is engaged in the wholesale and retail of readymade garments, textiles
and toys |
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No. of Employees : |
45 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
UAE |
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 |
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 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 employmen
|
Source
: CIA |
Company Name : MONALISA LLC
Country of Origin : Ajman, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 15th October 1981
Commercial Registration Number : 3635, Ajman
File Number : 1336
Chamber Membership Number : 3740
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 45
Activities : Wholesalers and retailers of readymade garments, textiles and toys
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Ibrahim Zoeb Ali, Accounts Manager
MONALISA LLC
Building : New Sanaya
Building, 2nd Floor
Area : New
Industrial Area
PO Box : 941
Town : Ajman
Country : United Arab
Emirates
Telephone : (971-6) 7433996
/ 7428860
Facsimile : (971-6)
7432604
Email : info@monalisa-ae.com
Subject operates from a medium sized suite of offices that are rented
and located in the Industrial Area of Ajman.
Branch Office (s)
Location Description
· Al Ittihad Road Showroom
premises
Sharjah
Tel: (971-6)
5771270
· Al Wahda Street Showroom
premises
Sharjah
Tel: (971-6)
5532250
· Ajman City Centre Showroom
premises
Ajman
Tel: (971-6)
7431384
· Sheikh Rashid Bin
Humaid Al Nuaimi Street Showroom
premises
Ajman
Tel: (971-6)
7428860
· Al Bustan Center Showroom
premises
Qusais
Dubai
Tel: (971-4)
2617442
· Madina Hall Showroom
premises
Dubai
Tel: (971-4)
2558244
· Mohamed Bin Matar
Street Showroom
premises
Fujairah
Tel: (971-9)
2243801
· Al Dhait Showroom
premises
Ras Al Khaimah
Tel: (971-7)
2354901
· Al Qurum Complex Showroom
premises
Oman
Tel: (968)
24560852
· Muscat Grand Mall Showroom
premises
Oman
Tel:
(968) 24399996
Name Nationality Position
· Shabeer Sharif
Galwala Indian Managing
Director
· Salem Ali Rashed
Al Kiwani Al Alili Emirati Director
· Ibrahim Zoeb Ali - Accounts
Manager
· N Hemant - Operations
Manager
Date of
Establishment : 15th
October 1981
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 3635, Ajman
File No. : 1336
Chamber Member No. : 3740
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
· Salem Ali Rashed
Al Kiwani Al Alili 51%
· Shabeer Sharif Galwala 49%
Activities: Engaged in the wholesale and retail of readymade garments, textiles and
toys.
Import Countries: Europe and the Far East
Subject has a workforce of 45 employees.
Companies registered in Ajman, 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.
·
HSBC Bank Middle East
Main Branch
Ajman
Tel: (971-6)
5537222
Fax: (971-6)
5537880
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.61.54 |
|
|
1 |
Rs.101.08 |
|
Euro |
1 |
Rs.83.38 |
INFORMATION DETAILS
|
Report Prepared by
: |
NIS |
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.