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Report Date : |
02.07.2014 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Al Quoz Industrial Area No. 1, 2028 Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
18.03.1995 |
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Com. Reg. No.: |
44513 |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Engaged in the wholesale and retail of electrical items such as cables, wires, switchgear, fuse gear, earthing accessories, industrial and domestic lamps, light fittings and accessories. |
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No of Employees : |
45 |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
United Arab Emirates |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 : DALLAS TRADING CO LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 18th March 1995
Commercial Registration Number : 44513, Dubai
Trade Licence Number : 237225
Chamber Membership Number : 33600
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 45
Activities : Wholesalers and retailers of electrical items such as cables, wires,
switchgear, fuse gear, earthing accessories, industrial and domestic lamps, light fittings and accessories
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Aneeta Singh, Accounts Manager
DALLAS TRADING CO
LLC
Location : Al Quoz Industrial Area No. 1
PO Box : 2028
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3383500
Facsimile : (971-4) 3389800
Mobile : (971-55) 1072308 / 65223000
Email : info@dallastrading.net
Subject operates
from a suite of offices and a warehouse covering 20,000ft2 that are
rented and located in the Industrial Area of Dubai.
Branch Office
(s)
Location Description
·
PO Box:
112550 Showroom
premises
Abu Dhabi
Tel: (971-2) 6321515
Fax: (971-2) 6321525
Name Nationality Position
·
Ahuja
Prakash Topandas Indian Managing
Director
·
Seema
Prakash Ahuja Indian Director
·
Ibrahim
Somji Indian Director
·
Abdullah
Hassan Abdullah Galadari Emirati Director
·
Amjad
Ali Shanntan - General
Manager
·
Aneeta
Singh - Accounts
Manager
·
Mahes
Katri - Sales
Manager
Date of Establishment : 18th
March 1995
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 44513, Dubai
Trade Licence No. : 237225
(Expires 17/03/2015)
Chamber Member No. : 33600
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Abdullah
Hassan Abdullah Galadari 51%
·
Ahuja
Prakash Topandas 24%
·
Seema
Prakash Ahuja 13%
·
Ibrahim
Somji 12%
·
Dallas
Trading Co WLL
Doha
Qatar
·
Dallas International
Co LLC
Muscat
Oman
Activities: Engaged in the wholesale and retail of
electrical items such as cables, wires, switchgear, fuse gear,
earthing accessories, industrial and domestic lamps, light fittings and
accessories.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 45 employees.
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year Ending 31/12/12: Year Ending 31/12/13:
Total Sales UAE Dh 25,147,340 UAE Dh 21,367,037
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Ms Aneeta Singh, Accounts Manager
·
Union
National Bank
Baniyas Street
PO Box: 6811
Dubai
Tel: (971-4) 2211188
No complaints
regarding subject’s payments have been reported.
According to local
sources, subject meets its payment obligations in a timely manner and the company
is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 60.13 |
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|
1 |
Rs. 102.83 |
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Euro |
1 |
Rs. 82.28 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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Report Prepared
by : |
DPT |
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 |
-- |
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.