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Report Date : |
29.01.2014 |
IDENTIFICATION DETAILS
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Name : |
KAHRAMAN DUBAI GENERAL TRADING CO LLC |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
27.12.1990 |
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Com. Reg. No.: |
40085, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is engaged in the import and distribution of
general foodstuff products, including coffee and cardamom, black pepper,
chickpeas, clove stem, galangal root, light red kidney beans, pulses
yellow-split-pea, pimento, white kidney beans, popcorn, white pepper, long
pepper, nuts-peanuts-blanched-ns, coconut powder, cassia, citric acid, black
cardamoms, mustard seeds, fennel seeds, pay leaves, black eye beans, cumin
seeds. |
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No. of Employees : |
11 |
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) |
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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.
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Source
: CIA |
Company Name :
KAHRAMAN DUBAI GENERAL TRADING CO LLC
Country of Origin :
Legal Form :
Limited Liability Company – LLC
Registration Date :
27th December 1990
Commercial Registration Number :
40085, Dubai
Trade Licence Number :
224056
Chamber Membership Number :
20316
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
11
Activities :
Distributors of general foodstuff products
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Ahmed Taher Al Qari, Director
KAHRAMAN DUBAI
GENERAL TRADING CO LLC
Registered &
Physical Address
Building : Alahmadiya
Building
Street : Al Ras
Street
Area : Al Ras,
Deira
PO Box : 3746
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2251048
Facsimile : (971-4)
2251051
Email : info@kahramandubai.com
/ kahraman@eim.ae
/ kahraman@emirates.net.ae
Premises
Subject operates from a medium sized suite of offices and a showroom
with storage facilities that are rented and located in the Central Business
Area of Dubai.
Name Nationality Position
Taher Sami Al Qari Syrian Managing
Director
Ahmed Taher Al Qari Syrian Director
Nedhal Taher Al Qari Syrian Director
Ghofran Taher Al Qari Syrian Director
Faisal Younis Zainal Abdeen Alkhaja Emirati Director
Khalid Mohamed - Sales
Executive
Date of Establishment : 27th December 1990
Legal Form : Limited Liability
Company – LLC
Commercial Reg. No. : 40085, Dubai
Trade Licence No. : 224056 (Expires 24/12/2014)
Chamber Member No. : 20316
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of
Shareholder (s) Percentage
Faisal Younis Zainal Abdeen Alkhaja 51%
Taher Sami Al Qari 13%
Ahmed Taher Al Qari 12%
Nedhal Taher Al Qari 12%
Ghofran Taher Al Qari 12%
Viet Coffee Ltd
Vietnam
Activities: Engaged in the import and distribution
of general foodstuff products, including coffee and cardamom, black pepper,
chickpeas, clove stem, galangal root, light red kidney beans, pulses
yellow-split-pea, pimento, white kidney beans, popcorn, white pepper, long
pepper, nuts-peanuts-blanched-ns, coconut powder, cassia, citric acid, black
cardamoms, mustard seeds, fennel seeds, pay leaves, black eye beans, cumin
seeds.
Import Countries: India
and Vietnam
International
Suppliers:
ALANA India Ltd India
Anmbex Export India
Apru Ltd Vietnam
Brand Names: ALTAHER and KAHRAMAN
Operating Trend: Steady
Subject has a workforce of 11 employees.
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Year Ending 31/12/11: Year Ending 31/12/12:
Total Sales UAE
Dh 65,000,000 UAE Dh
66,820,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Ahmed Taher Al Qari, Director
Emirates National Bank of Dubai
Baniyas Street
PO Box: 777
Dubai
Tel: (971-4) 2222241
Mashreq Bank Plc
Deira Branch
PO Box: 1250
Dubai
Tel: (971-4) 2229131 / 2221134
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.99 |
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|
1 |
Rs.104.61 |
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Euro |
1 |
Rs.86.17 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
RATING EXPLANATIONS
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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 |
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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.