|
Report Date : |
11.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
MONTIAGO GENERAL TRADING LLC |
|
|
|
|
Registered Office : |
U-Bora Tower, Suite No. 904 Business Bay PO Box 8645 Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Date of Incorporation : |
09.02.2014 |
|
|
|
|
Com. Reg. No.: |
1130251, Dubai |
|
|
|
|
Legal Form : |
Limited Liability Company - LLC |
|
|
|
|
Line of Business : |
Subject is engaged in the import and distribution of steel, metals,
pharmaceuticals, chemicals, textiles, garments, ores, minerals, electronics,
petroleum products and agro produce. |
|
|
|
|
No. of Employees : |
05 |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
-- |
NB |
New Business |
-- |
|
|
Status : |
New Business |
|
Payment Behaviour : |
Unknown |
|
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
UAE |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
UAE - 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 : MONTIAGO GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 9th February 2014
Commercial Registration Number : 1130251, Dubai
Trade Licence Number : 703253
Chamber Membership Number : 229969
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 5
Activities : Distributors of steel, metals, pharmaceuticals, chemicals, textiles, garments, ores, minerals, electronics, petroleum products and agro produce.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed :
Mercy
Mhlada, Personal Assistant
MONTIAGO GENERAL TRADING LLC
Building :
U-Bora Tower, Suite No. 904
Area : Business Bay
PO Box : 8645
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2776325
/ 3862780
Facsimile : (971-4)
2776340 / 3862781
Mobile : (971-50)
6539993
Email : mail@montiago.ae / mercy@montiago.ae
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
Name Nationality Position
· Rupin Hemant
Banker Hemant Dhirajlal Banker Indian Managing
Director
· Abdullah Hassan Ahmad
Ali Emirati Director
· Mercy Mhlada - Personal
Assistant
· Vanadit Tulos - Accountant
· Partik Shah - Operations
Manager
Date of
Establishment : 9th
February 2014
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 1130251, Dubai
Trade Licence No. : 703253 (Expires 08/02/2015)
Chamber Member No. : 229969
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
· Abdullah Hassan
Ahmad Ali 51%
· Rupin Hemant
Banker Hemant Dhirajlal Banker 49%
Activities: Engaged in the
import and distribution of steel, metals, pharmaceuticals, chemicals, textiles,
garments, ores, minerals, electronics, petroleum products and agro produce.
Import Countries: Europe and the Far East
International
Suppliers:
· Maple Wood Trade Pvt Ltd India
· Terapolis Asia Ltd China
· Everst Metal FZE Sharjah
· Ukwala FZE Ras
Al Khaimah
Subject has a workforce of 5 employees.
Subject is a newly formed business and as a result financial information
is not currently available.
·
Sharjah Islamic Bank
Al Boorj Avenue
PO Box: 4
Sharjah
Tel:
(971-6) 5547747
·
Mashreq Bank Plc
Deira Branch
PO Box: 1250
Dubai
Tel: (971-4)
2229131 / 2221134
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.61.45 |
|
|
1 |
Rs.97.76 |
|
Euro |
1 |
Rs.76.68 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIS |
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 |
|
|
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.