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Report Date : |
25.06.2014 |
IDENTIFICATION DETAILS
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Name : |
GOLDFINCH GENERAL TRADING LLC |
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Registered Office : |
Mohamed Saleh Al Gurg Building, Office No. 302, Plot No. 3120762, Al Souq Al Kabeer, Musalla, Bur Dubai, PO Box : 241701, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
03.03.2014 |
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Com. Reg. No.: |
1131745, Dubai |
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Legal Form : |
Limited Liability Company |
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LINE OF BUSINESS : |
SUBJECT
IS ENGAGED IN THE WHOLESALE AND RETAIL OF READYMADE GARMENTS AND TEXTILES. |
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No. of Employees : |
3 |
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 Business |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
United Arab Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately 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 |
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Company Name :
GOLDFINCH GENERAL TRADING LLC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Limited Liability Company – LLC
Registration Date :
3rd March 2014
Commercial Registration Number :
1131745, Dubai
Trade Licence Number :
704888
Chamber Membership Number :
230984
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
3
Activities :
Wholesalers and retailers of readymade garments and textiles.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Arvind Kumar, Sales Officer
GOLDFINCH GENERAL
TRADING LLC
Registered & Physical
Address
Location : Mohamed Saleh
Al Gurg Building, Office No. 302, Plot No. 3120762
Area : Al Souq Al
Kabeer, Musalla, Bur Dubai
PO Box :
241701
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3553437
/ 3557060
Facsimile : (971-4)
3553437
Mobile : (971-52)
6370760
Email : goldfinchgeneraltradingcollc@gmail.com
/ goldfinchllc9@gmail.com
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Dubai.
Name Nationality Position
Sureshkumar Goyal Indian Managing
Director
Saif Ahmed Mohamed Saeed Alhamr Emirati Director
Arvind Kumar - Sales
Officer
Date of Establishment : 3rd March 2014
Legal Form : Limited Liability
Company – LLC
Commercial Reg. No. : 1131745, Dubai
Trade Licence No. : 704888 (Expires 02/03/2015)
Chamber Member No. : 230984
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of
Shareholder (s) Percentage
Saif Ahmed Mohamed Saeed Alhamr 51%
Sureshkumar Goyal 49%
Activities: Engaged in the
wholesale and retail of readymade garments and textiles.
Import Countries: Europe
and the Far East.
Subject has a workforce of 3 employees.
Subject is a newly formed business and as a result financial information
is not currently available.
Bank of Baroda
PO Box: 3162
Dubai
Tel: (971-4) 5531955
Fax: (971-4) 5536962
Acc No. 90010200022604
Unknown
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.60.11 |
|
|
1 |
Rs.102.32 |
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Euro |
1 |
Rs.81.75 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
|
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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 |
|
<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.