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Report Date : |
13.05.2014 |
IDENTIFICATION DETAILS
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Name : |
GOLDEN LEAF GENERAL TRADING LLC |
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Registered Office : |
Raqa Al Bateen Plaza Building, Office No. 201, Al Maktoum Road, Deira, PO Box : 231537, Dubai |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
15.04.2007 |
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Com. Reg. No.: |
1008342, Dubai |
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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
computer equipment, electronic products, electrical household appliance spare
parts and construction chemicals for the building industry. |
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No. of Employees : |
4 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 – 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 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
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.
|
Source
: CIA |
Company Name : GOLDEN LEAF GENERAL TRADING LLC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
15th April 2007
Commercial Registration Number : 1008342,
Trade Licence Number :
593940
Chamber Membership Number :
117877
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
4
Activities :
Distributors of computer equipment, electronic products, electrical
household
appliance spare parts and construction chemicals for the building industry.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Ali Redha Ahsanalla
Bayat, Managing Director
GOLDEN LEAF
GENERAL TRADING LLC
Registered &
Physical Address
Building : Raqa Al Bateen Plaza Building, Office No. 201
Area : Al Maktoum
Road
Area : Deira
PO Box : 231537
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2283641
Facsimile : (971-4)
2283642
Mobile : (971-50) 2847000
Email : info@goldenleafco.com
Please note that subject’s previous address was, MM Towers, Mezzanine
Floor, Suite No. M6, Al Maktoum Road, Deira, Dubai.
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
Name Nationality Position
Ali Redha Ahsanalla Bayat Iranian Managing
Director
Saeed Musaood Saeed Mahdi Hashemi Ibrahimi Iranian Director
Kamaluddin Faryan Mohamed Muradi Zahra Iranian Director
Khurshid Ahmad Abbas Ali Emirati Director
Date of Establishment : 15th April 2007
Legal Form : Limited Liability
Company - LLC
Commercial Reg. No. : 1008342, Dubai
Trade Licence No. : 593940 (Expires 11/04/2015)
Chamber Member No. : 117877
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of
Shareholder (s) Percentage
Khurshid Ahmad Abbas Ali 51%
Ali Redha Ahsanalla Bayat ]
]
Saeed Musaood Saeed Mahdi Hashemi Ibrahimi ] 49%
]
Kamaluddin Faryan Mohamed Muradi Zahra ]
Activities: Engaged in the import and
distribution of computer equipment, electronic products, electrical household
appliance spare parts and construction chemicals for the building industry.
Import Countries: Europe, South
Korea and Vietnam.
International
Suppliers:
Samsung South
Korea
Samsung Vietnam
Export Countries: Iran
and China
Brand Names: DIRA
Subject has a workforce of 4 employees.
Companies registered in Dubai, 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.
Emirates National Bank of Dubai
Baniyas Street
PO Box: 777
Dubai
Tel: (971-4) 2222555
Fax: (971-4) 2221110
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.59.73 |
|
|
1 |
Rs.100.82 |
|
Euro |
1 |
Rs.82.22 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NNA |
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 |
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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 |
|
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.