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Report Date : |
23.01.2014 |
IDENTIFICATION DETAILS
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Name : |
K M TRADING CO LLC |
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Registered Office : |
Al |
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Country : |
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Date of Incorporation : |
22.09.1977 |
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Com. Reg. No.: |
11082, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is engaged in the operation of a chain of department
stores, retailing electronic products, household appliances, perfumes and
cosmetics and readymade garments. |
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No. of Employees : |
350 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
United Arab Emirates |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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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 :
K M TRADING CO LLC
Country of Origin :
Abu Dhabi, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
22nd September 1977
Commercial Registration Number :
11082, Abu Dhabi
Trade Licence Number :
1031295
Chamber Membership Number :
4825
Issued Capital : UAE Dh 200,000
Paid up Capital :
UAE Dh 200,000
Total Workforce :
350
Activities :
Operators of a chain of department stores
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
M B Hameed, Financial Controller
K M TRADING CO LLC
Registered &
Physical Address
Building : Al Fardous
Building, 8th Floor, Office No. 802/803
Street : Al Salam
Street
PO Box : 4530
Town : Abu Dhabi
Country : United Arab
Emirates
Telephone : (971-2) 6727900
/ 6324844
Facsimile : (971-2)
6744757
Email : kmtrdgco@emirates.net.ae
/ kmtgroup@kmt-group.com
/ venodan@kmt-group.com
Please note that the correct PO Box number is 4530, subject had no
knowledge of PO Box number 4510.
Premises
Subject operates from a large suite of offices that are rented and located
in the Central Business Area of Abu Dhabi.
Branch Office (s)
Location Description
Nasser Bin Mudakkar Building Showroom
premises
Sheikh Zayed Road
Abu Dhabi
Tel: (971-2) 6727900
Ibrahim Abdullah Al Mazrouie Building Showroom
premises
Salam Street
Abu Dhabi
Tel: (971-2) 6770330
Khalfan Jubharah Building Showroom
premises
Khalidiya Area
Abu Dhabi
Tel: (971-2) 6655755
Bur Dubai Showroom
premises
Dubai
Tel: (971-4) 3340804
Fax: (971-4) 3340805
Name Nationality Position
Korathe Mohamed Indian Managing Director
Nasser Ali Nasser Al Gaisi Emirati Director
Thomas Sunny - Finance
Manager
A V Venodan
- Assistant
General Manager
M B Hameed - Financial
Controller
Date of Establishment : 22nd September 1977
Legal Form : Limited Liability
Company - LLC
Commercial Reg. No. : 11082, Abu Dhabi
Trade Licence No. : 1031295
Chamber Member No. : 4825
Issued Capital UAE Dh 200,000
Paid up Capital : UAE Dh 200,000
Name of
Shareholder (s) Percentage
Nasser Ali Nasser Al Gaisi 51%
Korathe Mohamed 49%
K M Trading Shopping Centre LLC
Dubai
Al Safa Supermarkets LLC
Dubai
Activities: Engaged in the operation of
a chain of department stores, retailing electronic products, household
appliances, perfumes and cosmetics and readymade garments.
Import Countries: Europe
and the Far East
Subject has a workforce of approximately 350 employees.
Companies registered in Abu Dhabi, 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.
National Bank of Abu Dhabi
Sheikh Khalifa Street
PO Box: 4
Abu Dhabi
Tel: (971-2) 6345777 / 6327113 / 6335262
Fax: (971-2) 6336078
Commercial Bank of Dubai
Sheikh Khalifa Street
PO Box: 2466
Abu Dhabi
Tel: (971-2) 6324324
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.61.92 |
|
|
1 |
Rs.101.98 |
|
Euro |
1 |
Rs.83.93 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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 |
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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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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.